By The Fintech Times

Payments platform Dash Solutions has expanded its strategic collaboration with Visa, leveraging Visa’s digital payment network, Visa Direct, to deliver real-time payments to billions of cards and accounts.

This agreement enables Dash customers to send real-time payments to eligible cards, bank accounts as well as digital wallets, enhancing their ability to provide efficient and flexible payment solutions.

CEO of Dash Solutions, Stephen Faust commented: “At Dash Solutions, we understand that flexibility and choice are paramount in today’s payment landscape. Our collaboration with Visa Direct empowers us to offer an unparalleled disbursement experience through our SpendIT SendIT offering.

“This means businesses can tailor solutions to their specific needs, ensuring every payout is as efficient and user-friendly as possible.”

The combination of Visa-branded digital cards and Visa Direct for the Dash Solutions payment suite creates new opportunities for customers in healthcare, insurance and other sectors. Configurable solutions are core to Dash Solutions’ strategic vision for real-time payments.

SVP of product strategy and partnerships at Dash Solutions, Maggie O’Toole described Dash’s integration with Visa Direct as “a game-changer”.

“It’s not just about faster payments – it’s about giving consumers the power and flexibility to manage their money on their own terms. This allows us to redefine the payment experience, putting control and convenience directly into the hands of the consumer.”

Embracing digital solutions

Despite 82 per cent of healthcare providers continuing to issue patient refunds via paper checks, a shift towards digital solutions is beginning among leading organisations. One prominent healthcare provider, which previously only disbursed refunds through checks, now digitises these payouts almost instantly.

This change not only meets end users’ expectations for a digital experience but also significantly enhances the refund process by providing access to payments within minutes. With these digital refunds, end-users can promptly make online or in-store purchases using their Dash Visa card or easily transfer the funds to their preferred accounts. This flexibility ensures a more convenient and efficient use of their refunds.

The healthcare provider itself reaps benefits from this digital transition by cutting costs associated with paper checks and streamlining payment flows. This move towards digital refunds represents a significant improvement in operational efficiency and customer satisfaction.

“Consumers expect a frictionless money movement experience”, Jim Filice, VP, North American Money Movement at Visa also added. “We are thrilled to be working with Dash Solutions to deliver real-time1 payments with Visa Direct that empower end-users with financial flexibility.”

Dash Solutions, headquartered in Birmingham, Alabama, acquired KyckGlobal last year, which brought direct integrations with major payment networks, including Visa Direct, into the Dash Solutions platform. Dash Solutions’ ownership of the KyckGlobal platform also eliminates the need for additional third-party processors, resulting in customer cost savings and streamlined operations.