CHICAGO & PHILADELPHIA--(BUSINESS WIRE)--Onbe, a market-leading corporate disbursements platform, today announced the launch of its latest product, Push-to-Debit for Canadian dollars. Using this near real-time, cash-equivalent option, businesses have the ability to send funds to their workforces and consumers by easily pushing a payment in Canadian dollars to a recipient’s personal or business checking account via a linked debit card.
Onbe removes the risk and complexity of disbursements with comprehensive, fully managed solutions built for enterprise scale, making it simple and cost-effective for companies to modernize the way they pay. Now, companies disbursing Canadian dollars can leverage Push-to-Debit alongside traditional payment form factors such as checks and physical prepaid cards, as well as Onbe's digital payment modalities, including virtual cards that can be seamlessly added to popular mobile wallets. The addition of Push-to-Debit enables companies to offer recipients additional payment choice and a simpler way to use their funds for saving, investing, or seamless bill pay.
“Launching Push-to-Debit in Canada is an exciting next step for Onbe as we continue our drive to help businesses deliver fast, recipient choice-driven payment experiences without added cost, risk and administrative burden,” says Sean Healey, Chief Product Officer of Onbe. “Now, businesses paying in Canadian dollars can seamlessly add this option to their existing physical and digital disbursement solutions, offering added speed and convenience for their customers and workforces.”
Onbe has offered its popular Push-to-Debit solution in the U.S. since early 2020, creating opportunities to push funds to the over 950 million debit cards in circulation. Expanding Push-to-Debit to Canadian dollar transactions increases available options for Onbe’s clients by facilitating reach to 30 million debit cards. Onbe has delivered comprehensive payment solutions for over a decade in Canada across a variety of industries including financial services, automotive, telecom, and industries dominated by freelancers, consultants and independent contractors.
“The environment in which we’re now living and working—with increased demands for speed and flexibility by consumers worldwide—calls on businesses to embrace faster, digital payment capabilities such as Push-to-Debit as part of their customer experience,” says Bala Janakiraman, CEO of Onbe. “Expanding our solution offering to include Canadian debit accounts is one of many steps we’re continuously taking to make disbursements faster, simpler and more efficient for businesses and their customers and workforces.”
Onbe, with offices in Chicago, Philadelphia and London, manages and modernizes customer and workforce disbursements for companies ranging from mid-market to the Fortune 500. Backed by top-tier investors and with over 25 years of industry experience, Onbe’s team of experts and technology platform eliminate the added cost, risk, and complexity of orchestrating disbursements in-house. www.onbe.com