NorthOne partners with The Bancorp Bank; introduces real-time payments

By Edlyn Cardoza

NorthOne recently announced that they are breaking new ground in the FinTech space by joining The Clearing House’s Real-Time Payments network in partnership with The Bancorp Bank, N.A.

With The Clearing House’s innovative Real-Time Payment network, NorthOne will help businesses receive payments instantly 24 hours a day, 365 days a year, and serves as a platform for innovation, allowing NorthOne to deliver new products and services to customers.

This update provides NorthOne customers with a competitive advantage to receive payments instantly. Future updates will soon provide customers with the ability to send real-time payments.

With 61% of small businesses struggling due to poor cash flow management, the launch of real-time payments will directly remove a major barrier to success for the businesses NorthOne serves by making it faster for them to get paid.

NorthOne’s Co-Founder and CEO, Eytan Bensoussan, said, “This is a huge milestone not just for our team but for the Fintech Industry as a whole. Most importantly, this update is going to make a huge difference for our customers. For small business owners, cash flow and liquidity are paramount. By removing payment waiting times, we’re able to free up a frustrating technical bottleneck for our customers, making it easier for them to operate their business efficiently.”

This new announcement is just the beginning as NorthOne gears up for a massive year in 2023 on the heels of its $67 million raise. They are building a financial platform that acts as the sophisticated finance department small businesses could once only dream of. The launch of real-time payments is an integral part of that puzzle.

From construction workers to barbers, mechanics to restaurant owners, NorthOne was built to solve big problems for the small businesses on main streets across America. By connecting all the dots of the financial back office, they can transform the bank account from a basic utility to a financial platform that gives their customers a greater shot at success.