QRails provides an API-driven platform that enables businesses to implement prepaid card programs and earned wage access solutions, facilitating flexible funds disbursement and payment processing. This technology addresses the need for efficient payment options in the financial services sector, enhancing financial wellness for employees and streamlining payroll operations for employers.
Funding
$8.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face challenges in efficiently disbursing funds and providing flexible payment options to employees and customers. Traditional payment methods can be slow, costly, and inconvenient, particularly for unbanked or underbanked individuals. Existing earned wage access solutions often involve third-party fees and complex integrations.
Solution
QRails offers an API-driven issuer processor platform that enables businesses to implement innovative payment solutions, including prepaid card programs and earned wage access (EWA). The platform provides a suite of APIs for flexible funds disbursement, payment processing, and program management. QRails' EWA solution, AnyDay, allows employees to access earned wages when needed without fees for employers or employees. The platform supports virtual and physical cards, mobile wallets, and integrates with payroll and time & attendance systems.
Target Audience
QRails targets businesses, fintech companies, and workforce management (WFM) providers seeking to offer innovative payment solutions, including earned wage access and prepaid card programs, to their employees or customers.
Features
- API-driven platform for building custom payment solutions
- Supports prepaid cards, virtual cards, and mobile wallets
- Real-time funds disbursement capabilities
- Integrated earned wage access (EWA) solution (AnyDay)
- Payroll and time & attendance system integration
- White-label options and SDKs for custom app development
- Program management tools for operational support
- Cloud-based issuer processor for payment processing