New service enables real-time, bank-to-bank payments at the point of sale

ATLANTA: Sionic, a leader in real-time, bank-to-bank payments at the point of sale, today announced the availability launch of its Instant Bank Pay service alongside Fraud Detection Service in Microsoft Marketplace, the unified online destination for customers to buy trusted cloud solutions, AI apps, and agents to meet their business needs. Sionic customers can now discover and deploy trusted solutions through Microsoft Marketplace, with smooth integration and streamlined management across Microsoft Azure and other Microsoft products.

The service uses the FedNow® Service and the RTP® network through banking partners to move cash digitally within seconds from payers’ checking accounts to payees’ accounts, with an average 60% savings over credit and debit cards. Payers receive instant Perks for paying with their accounts at participating merchant and business payees.

“Organizations like Sionic are helping advance U.S. payments with solutions that foster innovation while expanding the value and reach of the FedNow Service,” said Nick Stanescu, executive vice president and chief FedNow executive. “As the ecosystem continues to grow and evolve, we move toward our long-term goal of delivering reliable, efficient and widely accessible instant payments for all.”

Sionic embarked on a pay-by-bank proof of concept in late 2024, only to discover components critical to commerce transactions missing from both bank rails: no alias directory like that of Zelle; no fraud detection for point-of-sale transactions; and no support for payment disputes. Sionic used Microsoft Foundry to fill those voids. For example, a customer requesting a refund triggers an AI agent to negotiate with an agent representing the seller. This removes the financial institution from the process unless an escalation is required.

"Sixteen years ago, we set out to build the future of low-cost payments in America. Today, that future is here. Instant Bank Pay is the real-time, bank-to-bank payment service for commerce in the U.S.," said Ronald Herman, founder & CEO, Sionic. "Using Microsoft Foundry has helped us bring it to merchants, businesses, and financial institutions."

“We’re pleased to welcome Sionic to Microsoft Marketplace,” said Cyril Belikoff, vice president, Microsoft Azure Product Marketing. “Marketplace connects trusted solutions from global partners with customers worldwide, making it easy to find and deploy apps that work seamlessly with Microsoft products."

Microsoft Marketplace is a single destination to find, try, and buy trusted cloud solutions, AI apps, and agents to meet your business objectives. Choose from a growing collection of solutions tailored to your unique needs, available both in Marketplace and directly within Microsoft products.

Sionic will be announcing go-to-market financial institution partners in the coming weeks.

The services are available for subscription in the Microsoft Marketplace:

Instant Bank Pay

Fraud Detection Service

About Sionic

Atlanta-based Sionic is a leader in faster digital payments, delivering real-time, bank-to-bank payments at the point of sale. Sionic’s market-first Instant Bank Pay service enables U.S. financial institutions participating in either real-time bank payment rails to offer their personal and business customers instant cash payments -- whether online, mobile, or in-store. Sionic's AI-based Fraud Detection Service (FDS) is the first to protect real-time, Account-to-Account (A2A) payments at the point of sale. Merchants accepting A2A payments bypass expensive card swipe fees and receive cash deposits within seconds. Consumers may also receive Perks from participating merchants when paying with their bank accounts using Apple® or Google® wallets. To learn more, visit www.sionic.io, follow us on X, or connect with Sionic on LinkedIn.

Fonte: Business Wire