About Interchecks

Provides a real-time payout platform that enables businesses to instantly send and receive funds through nine transaction methods, including virtual prepaid cards, eChecks, and RTP. By offering customizable APIs and white-labeled solutions, it reduces transaction costs, accelerates onboarding, and ensures compliance with automated tax verification and reporting.

```xml <problem> Businesses face challenges in efficiently and cost-effectively disbursing funds to various recipients, often dealing with slow processing times, high transaction fees, and complex compliance requirements. The limited number of payout options can lead to customer dissatisfaction and hinder business growth. </problem> <solution> Interchecks provides a real-time payout platform that enables businesses to instantly send and receive funds through multiple transaction methods, including virtual prepaid cards, eChecks, and RTP. The platform offers customizable APIs and white-labeled solutions, allowing businesses to tailor their payout processes to meet specific needs. By automating tax verification and reporting, Interchecks ensures compliance while reducing administrative overhead. The platform's flexibility and speed enhance customer satisfaction and streamline financial operations. </solution> <features> - Instant payouts via Instant Deposit, PayPal, Virtual Prepaid Card, eCheck, Venmo, and RTP. - Support for traditional payout methods including Direct Deposit and physical Checks. - RESTful API for easy integration and customization of payout processes. - White-labeled service to launch a branded payment platform. - Automated Form W-9 collection and real-time name and tax verification with the IRS. - Automated 1099 threshold tracking for tax compliance. - Advanced compliance and security controls, including encrypted data and daily transaction monitoring. - PCI Level 1 and SOC 2 Type II compliance. </features> <target_audience> The primary target audience includes businesses in online gaming, digital assets, and fintech industries that require fast, flexible, and compliant payout solutions for consumers and businesses. </target_audience> ```

What does Interchecks do?

When was Interchecks founded?

Interchecks was founded in 2016.

How much funding has Interchecks raised?

Interchecks has raised 10500000.

Founded

2016

Funding

10500000

Employees

44 employees

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Interchecks

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Executive Summary

interchecks.com 700+

Crunchbase

Founded 2016

Funding

Estimated Funding

$10M+

Team (40+)

No team information available.

Company Description

Problem

Businesses face challenges in efficiently and cost-effectively disbursing funds to various recipients, often dealing with slow processing times, high transaction fees, and complex compliance requirements. The limited number of payout options can lead to customer dissatisfaction and hinder business growth.

Solution

Interchecks provides a real-time payout platform that enables businesses to instantly send and receive funds through multiple transaction methods, including virtual prepaid cards, eChecks, and RTP. The platform offers customizable APIs and white-labeled solutions, allowing businesses to tailor their payout processes to meet specific needs. By automating tax verification and reporting, Interchecks ensures compliance while reducing administrative overhead. The platform's flexibility and speed enhance customer satisfaction and streamline financial operations.

Features

Instant payouts via Instant Deposit, PayPal, Virtual Prepaid Card, eCheck, Venmo, and RTP.

Support for traditional payout methods including Direct Deposit and physical Checks.

RESTful API for easy integration and customization of payout processes.

White-labeled service to launch a branded payment platform.

Automated Form W-9 collection and real-time name and tax verification with the IRS.

Automated 1099 threshold tracking for tax compliance.

Advanced compliance and security controls, including encrypted data and daily transaction monitoring.

PCI Level 1 and SOC 2 Type II compliance.

Target Audience

The primary target audience includes businesses in online gaming, digital assets, and fintech industries that require fast, flexible, and compliant payout solutions for consumers and businesses.