Sankaet Pathak
Oct 9, 2017 · 2 min read

Solving bill pay is an important piece of the puzzle to build out a full stack deposit product. So today we are announcing version 1 of our bill pay product.

Here are some of the features:

Fits right into our existing transactions API

We have built bill pay on top of our existing transactions API. The idea being, you can pay a bill from any type of Synapse managed deposit account, to a CHECK-US account type. Making this a part of our existing transactions API is crucial, because it means that now developers only need to spend 10–15 minutes to add bill pay functionality into their existing products.

It’s ubiquitous

Since the primary distribution mechanism of the bill pay product is a physical check, it ensures that regardless of who the merchant is, we are able to fulfill the bill payment.

Low cost

Depending on your contract, bill pay would cost anywhere from $1 to as low as 50¢. No percentages or complicated fees.

Automated exception handling

Since the bill pay product is built on our transactions API, it also inherits all the timeline and subscription features, making it very easy for developers to automate exception handling around failed bill pays.


Our Bill Pay product is now in public beta. If you wish to integrate this into your existing products, please feel free to reach out to us at hello@synapsepay.com.

Originally published at Synapse’s Blog on Oct 09, 2017.

Synapse

Operating System For Modern Banking

Thanks to Hillary Quirk

Sankaet Pathak

Written by

Founder and CEO @synapsefi

Synapse

Synapse

Operating System For Modern Banking

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