VoPay Verify - Bank Account Verification in Real-Time

VoPay Verify provides enterprises with instant bank account technology, eliminating the delays and inefficiencies that stem from traditional micro-transaction authentication methods.

The first of its kind in Canada and the United States, this solution will tackle some of the biggest challenges organizations face with small-value transactions for bank account validation. VoPay’s innovative solution empowers enterprises to rapidly authenticate and confirm any US or Canadian bank account, eliminating the protracted waiting times of up to 24 hours or more for micro-transactions to finalize.

The Current Challenges for Bank Account Verification

Today’s micro-deposit verification processes can take over 24 hours to complete. This causes major delays throughout the entire financial operation and negatively impacts the user experience. The slow process is problematic for business operations that need a fast and secure solution to verify bank account details.

The ability to instantly authenticate and confirm a US or Canadian bank account is a game-changing solution for businesses that need quick onboarding and faster financial transaction verification processes.

The Benefits of Fast and Frictionless Bank Account Validation

A quick verification process is crucial for every financial operation; this is where VoPay Verify excels.

With VoPay Verify, you gain:

• Enhanced security measures
• Improved accuracy in data collection
• A positive user experience
• To verify and onboard customers faster than ever before, accelerating growth.
• Prompt feedback loop to decide to proceed with or halt a transaction
• A rapid execution of transactions, making it difficult for fraudsters to manipulate or intercept the verification process

Integration Options - VoPay Portal or VoPay API

Integrate VoPay Verify easily into your platform or business with the following:

• VoPay's Fully Managed Service: Let us handle both the back-end logic and front-end user experience, with the option for full white labelling tailored to your brand.
• Custom Implementation Using API Endpoints: Design and build your own workflows using dedicated endpoints for micro-transactions, giving you the flexibility to customize the implementation according to your specific requirements

Bank Account Authentication Use Cases

Use Cases

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Gig Economy: Authenticate users and their bank accounts swiftly.

• Lending: Validate borrower accounts to mitigate default risks.
• Property Management: Ensure tenant accounts are accurate and operational.
• Account-to-Account Transfers: Confirm ownership of unfamiliar bank accounts.
• Payroll: Guarantee correct bank details of employees to avoid errors.

Get Started with VoPay Verify

VoPay Verify will be available from February 1st, 2024.

If you are an existing customer, please reach out to your Account Representative or submit a ticket through the VoPay portal.

If you are a new customer, please reach out to our expert Fintech Advisors HERE.

Verify recipes available HERE.