Sionic Brings Instant Bank Pay to Microsoft Marketplace

Real-time payments company Sionic has launched its instant bank pay service through Microsoft Marketplace. This integration enables real-time, bank-to-bank payments at the point of sale.

The FedNow Service and the RTP Network are used to send cash digitally within seconds from payers' checking accounts to payees. This process is facilitated by banking partners.

Sionic's founder and CEO, Ronald Herman, stated, '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.'

The service uses AI agents to negotiate with sellers and remove financial institutions from the scenario unless an escalation is needed.

This offering comes at a time when many businesses still have work to do to improve their real-time payment capabilities. Recent PYMNTS Intelligence research found that nearly every firm surveyed has secure bank connectivity, but often only covers selected payments or limited parts of the payment process.