How Our Partnership with REPAY Allows for Instantly Funded Loans

GOLDPoint Systems (GPS) continually strives to find ways to make its services more convenient, versatile, and accessible. Sometimes, this effort takes the form of creating new programs for our clients. Other times, it means teaming up with other companies so we can make use of their products to expand our capabilities and extend our reach.

One such addition to our network of professional partnerships is Repay Holdings Corporation (REPAY, NASDAQ: RPAY), an industry leader in providing vertically-integrated payment solutions. In early September, REPAY officially announced an expansion of its existing integration with GPS. In addition to providing our customers with REPAY’s card and ACH processing systems, this expansion now allows us to offer its Instant Funding service as well.

What is Instant Funding?

Exactly what the name implies. This is not a mundane service treated with marketing spin that makes it sound too good to be true…it really is as simple and useful as the name suggests. Through our integration with REPAY, GPS client institutions can send electronic funds directly to a customer’s eligible debit/prepaid card on the spot.

The benefits of Instant Funding should be readily apparent:

• Less paper is used for creating checks and application paperwork.
• Less need for physical cash.
• Less card printing (as your institution can directly fund a customer’s existing card).
• Extreme convenience to the customer and increased incentive to choose your institution over your competitors.

Susan Perlmutter, CRO at REPAY, says:

“In our many years of working in the payments industry, it’s been clear that fast and convenient payments are what sets businesses apart from their competitors. Our Instant Funding solution now brings speed, convenience, and security to the funding process, removing the delays typically associated with traditional funding methods, such as checks, and providing a comprehensive addition to any payments experience.”

Conclusion

In other words, instant paperless funding is the future, and your institution should reach out to its GPS account manager today to discuss the possibility of implementing this service for your customers. If you needed any more convincing, here’s Jeff Collinsworth, CEO, and President at GPS, giving REPAY and Instant Funding his stamp of approval:

“REPAY has been a pleasure to work with and has provided our company with a number of solutions to make payment acceptance easier for our clients in the lending industry. Now with Instant Funding, we’re excited to offer our customers a faster and more convenient funding option that only makes our solutions more seamless.”