The acquisition, spearheaded by veteran FinTech entrepreneur and OV Loop CEO, Will Graylin, enables instant processing of real time payments (RTP) for OV Loop’s partner banks, billers and consumers.
January 26, 2021 09:00 AM Eastern Standard Time
BOSTON--(BUSINESS WIRE)--OV Loop, Inc., the connected commerce company, announced today the acquisition of Push Pay, Inc. d/b/a PayFi, the first fintech company to offer U.S. banks and commercial enterprises RTP capabilities for instant and lower-cost financial transactions.
“As a next-gen financial technology company, it’s important for us to lead the way in providing innovative and reliable services that reduce the friction and cost of commerce,” said OV Loop CEO, Will Graylin. “Our customers will benefit from easier, safer, and faster payments, invoicing and collections, with superior customer experiences.”
OV Loop’s new PayFi solution includes the ability for organizations to send and receive RTPs and request payments through the OV Loop platform. OV Loop users can also securely and easily authorize the instant transfer of funds through participating banks with their personal credential manager.
“We are proud to have implemented our first RTP processing installation in 2020,” said Travis Dulaney, Founder of PayFi. “Being part of the OV Loop offering means we can bring this service to U.S. banks, billers and consumers at a much larger scale.”
About OV Loop
OV Loop is a connected commerce platform company, founded by the proven fintech innovators that started Samsung Pay®, LoopPay®, Roam Data® and Hypercom®, whose payment inventions are already being used by hundreds of millions of consumers and tens of millions of merchants around the world. OV Loop provides safer and smoother commerce experiences for consumers and businesses. The OV Loop app is a personal credential manager and messenger for consumers to safely store their digital credentials (payment cards, bank accounts, passwords) and easily use them virtually everywhere (in-store, online, in-app & in-message.) OV Concierge™ is a collections and support tool for businesses to deliver more convenient and cost effective 3-in-1 (invoice/pay/chat) commerce messages to their customers, across virtually any channel, to improve commerce experiences and relationships.