Silverback Pay – Money Movement

Services

Silverback-Send

Disburse funds to bank accounts in real-time*

  • Funds received & accessible in any bank account within minutes
  • Mastercard and Visa cards/accounts
  • Safely reach any bank account
  • Available 24/7/365
  • Push-to-prepaid card options available (using Silverback-Prepay)

Silverback-Pull

Withdraw funds from bank accounts in real-time*

  • Funds withdrawn from bank account within minutes
  • Funds available instantly
  • Multiple fund accessibility/settlement options available
  • All bank accounts across Canada & USA can be reached
  • Multi-network connections & routing options
  • Available 24/7/365
  • Enables instant account-to-account payments/transfers
  • Enables instant Request-to-Pay, Account Funding or Deposits, Collections and other Payments

Silverback-Prepaid

Card issuing & program management service*

  • Funds available on prepaid cards within minutes
  • Develop, implement & manage a prepaid card program for your clients/staff/payees
  • Reloadable & Single-load options available
  • Physical, virtual & digital options
  • Enabled for all major mobile wallets
  • Enabled for Samsung Pay, Google Pay, & Apple Pay
  • Flexible fee structure to suit your needs

Silverback-X

Card issuing & program management service*

  • Disburse funds to 120+ Countries
  • Making cross-border payments directly to bank accounts, mobile wallets, and available for cash pickup
  • AML & Sanction screening to reduce compliance efforts on end-user (CAAS)
  • Disbursement funds directly to 90% of bank accounts worldwide
  • FX & Treasury Management, large exchange volumes & local expertise enable very competitive FX rates

Silverback-Verify

Card issuing & program management service*

  • Real-time* for KYC
  • Ensures regulatory & network compliance
  • Facial recognition with match & likeness tests
  • 50+ forensic tests performed on IDs in real-time* for authentication
  • Digital Data extraction from ID
  • AI-Powered Authentication

Silverback B2B Solutions

Rapid Merchant Settlements

  • Rapid and Instant Settlements greatly benefit merchants with immediate access to the funds for purchasing inventory, paying employees, and covering expenses.
  • A handful of merchant account providers now offer some form of real-time settlements to help smaller, independent businesses since the pandemic.
  • Merchants frequently have frustrations with bank policies regarding holds and reserves. Most accounts require a hold period, ranging from 1 to 14 days, depending on the size of the reserve, amount of funds found in the account, the merchant’s account status, and the type of business.

Accounts Payable

  • Merchants are not the only ones challenged by slow, cumbersome settlements. Employees, contractors, and freelancers often struggle due to delayed payments. Real-time payments can speed up the process and give them access to their funds in an instant.
  • Avoid sending wires overseas for freelancers by using the cross-border solution.
  • Industries realize significant cost savings and improved customer satisfaction with real-time payments instead of the much-maligned paper checks – which are harmful to the environment, expensive to produce, distribute, and process.
  • Replacing cheques ensures payouts are faster, safer, and at lower fees.

Cross-Border Payments

  • Real-time payments can expedite international money transfers without compromising security.
  • Sending and receiving money across international borders is inconvenient. It’s common for an international money transfer to take two weeks or more to settle — an unacceptable timeframe given the maturity and capabilities of the internet.
  • Wire Transfers can be cumbersome, expensive, and require manual approvals & submissions with inconvenient timelines. Eliminate extensive timelines and unreasonable fees that come with Wires by switching to our Cross-Border Solution.

Online Marketplace

  • Cash flow is key for any business and no different for online sellers.
  • With more businesses being able to provide rapid payouts to sellers, the online marketplace helps ensure seller success.

Silverback B2C Solutions

Insurance / Healthcare

  • Payout Insurance claims in real-time*.
  • Paper cheques & EFTs are slow, inefficient, and expensive.
  • Funds can be received and be accessible in MINUTES.
  • Helps decrease the cost of issuing, processing, & handling cheques.

Gig Economy

  • Pay your gig workers in real-time*, whenever they want, including same-day payouts when jobs are completed, directly to bank accounts.
  • Gig companies can transform traditional payment processes into differentiating digital experiences.
  • Using APT-X, pay freelancers globally, right from your domestic account.

Earned Wage Access (EWA)

  • EWA solutions allow workers to access their earned wages between traditional monthly or bi-monthly pay cycles, including on nights, weekends, and holidays.
  • Provides workers with the option to receive their off-cycle pay directly to their eligible debit card account – without the need to physically deposit any money into their account.
  • Streamlines the onboarding process for employers and offers workers an easy way to get off-cycle pay digitally.
  • EWA Solutions can also attract and retain employees that want flexible payroll options.

Lotteries & Gambling

  • Getting paid faster allows gamers to better control their cash flow, enabling them to access their winnings instantly and spend on additional experiences.
  • Payout lotteries & gambling winnings in real-time*.
  • The option of receiving cashless payouts instantly and on demand is a significant competitive advantage within the industry.
  • Online gaming and gambling is surging, and the need to have instant digital payout of winnings in this online world is vital to the guest experience.
  • Cash and cheque handling is expensive; through this digital solution, casinos can lower those costs.
  • The pandemic has only increased the demand for cashless payouts, with more people being conscious of using cash & coins.

Government Aid

  • Our solution can ensure recipients have instant access to funds whether they have a bank account or not in a safe and simple manner. No need for recipients to walk around with cash.
  • Recipients no longer need to use outdated payment methods like cheques or cash.

Cross-Border Payments

  • Real-time payments can expedite international money transfers without compromising security.
  • Sending and receiving money across international borders is inconvenient. It’s common for an international money transfer to take two weeks or more to settle — an unacceptable timeframe given the maturity and capabilities of the internet.
  • Wire Transfers can be cumbersome, expensive, and require manual approvals & submissions with inconvenient timelines. Eliminate extensive timelines and unreasonable fees that come with Wires by switching to our Cross-Border Solution.

Rapid Merchant Settlements

  • Rapid and Instant Settlements greatly benefit merchants with immediate access to the funds for: purchasing inventory, paying employees, and covering expenses.
  • A handful of merchant account providers now offer some form of real-time settlements to help smaller, independent businesses since the pandemic.
  • Merchants frequently have frustrations with bank policies regarding holds and reserves. Most accounts require a hold period, ranging from 1 to 14 days, depending on the size of the reserve, amount of funds found in the account, the merchant’s account status, and the type of business.

Accounts Payable

  • Merchants are not the only ones challenged by slow, cumbersome settlements. Employees, contractors, and freelancers often struggle due to delayed payments. Real-time payments can speed up the process and give them access to their funds in an instant.
  • Avoid sending wires overseas for freelancers by using the cross-border solution.
  • Industries realize significant cost savings and improved customer satisfaction with real-time payments instead of the much-maligned paper checks – which are harmful to the environment, expensive to produce, distribute, and process.
  • Replacing cheques ensures payouts are faster, safer, and at lower fees.

Travel

  • Customer experiences would be greatly enhanced if they had instant access to the refund or compensation.
  • Travel and tourism industries should aim to payout their guests in real-time to improve the quality of service and to prevent any hindrance to the travel plans of guests.
  • Airline companies need to compensate guests with instant refunds/reimbursements.
  • Flight delays require compensation not only as a voucher option but instant refunds/reimbursements as well.

Lending

  • For a borrower, it is not only important to get approved for the loan as fast as possible, but also to have access to the funds as fast as possible.
  • No need to rely on outdated & disbursement methods like cheques and EFT.