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PayPal and Fiserv Partner to Allow Paycheck Deposits Into Venmo Accounts
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Businesses Can Deliver Branded Digital Payouts To PayPal And Venmo Accounts Via Carat From Fiserv - Carat Enables Businesses To Disburse Funds At Scale To Payment Apps Such As PayPal And Venmo Through A Single API
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PayPal And Fiserv Come Together For New Direct Deposit Option: Gig Workers Will Benefit
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ALPHARETTA, Ga., June 3, 2021 /PRNewswire/ The whole world is battling Coronavirus outbreaks, and the situation in India has been dire as medical and healthcare systems in the country are overwhelmed with the massive number of new cases and high deathrates. The Atlanta area has a large presence of Asian Indian businesses and communities, and many in the community have been affected as they hear the plight of their family and friends in India. Seven local Atlanta Tech Entrepreneurs answered the call and have raised over $225,000 to support humanitarian efforts throughout India. Partnering with Sewa International, a Hindu faith-based, humanitarian, nonprofit service organization that specializes in disaster relief and rehabilitation, they will ship much-needed oxygen concentrators to the country.
State Farm taps Fiserv to speed disbursements
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Carat,
Fiserv’s omnichannel commerce platform, to pay out approved claims digitally to customers who opt in to the service.
How it works: Eligible policyholders will receive an email or text linking them to a State Farm-branded portal made with Carat’s white-labeled technology. From there, they can select the payment method of their choice, including debit cards, bank accounts, and even digital wallets like
PayPal, and receive their disbursement quickly typically within minutes, Nandan Sheth, Fiserv’s head of Carat and digital commerce, told Insider Intelligence.
Quotable: “Enhancing the consumer experience is why we wanted to get into this, [especially] due to the capabilities and suites of solutions that we can enable for clients,” Sheth said.