Zūm Rails provides a payment gateway that integrates various transaction methods, including credit card and EFT, within a PCI-compliant environment to facilitate seamless financial interactions. The platform automates onboarding, risk analysis, and invoicing processes, enabling businesses to receive payments 24/7 and optimize their accounts receivable and payable workflows.
Funding
$7.8M 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 complexities in managing various payment methods, onboarding processes, risk analysis, and reconciliation, leading to inefficiencies in accounts receivable and payable workflows. Integrating multiple payment rails and ensuring PCI compliance adds further overhead and costs.
Solution
Zūm Rails offers a unified payment platform that combines payment gateway functionality with open banking and Banking-as-a-Service (BaaS) capabilities. The platform streamlines financial interactions by automating onboarding, KYC, risk mitigation, invoicing, and reconciliation processes. It supports multiple payment methods, including credit cards, EFT, ACH, Interac, Visa Direct, and Mastercard Send, within a PCI-compliant environment. By aggregating financial data and providing real-time insights, Zūm Rails enables businesses to optimize cash flow, reduce fraud, and enhance customer experiences.
Target Audience
Zūm Rails targets businesses of all sizes that seek to streamline their payment processes, reduce operational costs, and improve financial visibility, as well as partners looking for a comprehensive payment solution to offer their clients.
Features
- Multi-rail payment gateway supporting EFT, ACH, credit cards, Visa Direct, Mastercard Send, and Interac
- Open banking aggregation for instant bank account connections and real-time KYC data
- Automated invoicing and subscription management with customizable billing options
- Advanced fraud reduction tools, including KYC validation, real-time balance monitoring, and sanction screening
- Automated reconciliation features with detailed customer reporting and transaction metrics
- Payment links for easy and secure payment collection via email, text, or digital channels
- Partner portal for managing multiple clients, accounts, and workflows
- BaaS solution for issuing branded physical and digital cards
- Real-time data insights on income trends, expense patterns, and cash flow
- Developer-friendly API and SDK for seamless integration into existing systems