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Tyfone launches Payfinia Inc. to disrupt instant payment experience

By Gloria Mathias

October 16, 2024

  • Embedded Finance
  • FinTech USA
  • Global Payments
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Tyfone, Payfinia, Instant Payments Solutions, Payments Technology, Global payments, Payments News, Fintech USA, Embedded finance, Tyfone, a digital banking solution, has announced the formation of Payfinia Inc., a separate entity dedicated to providing solutions that redefine instant payments.

This new venture leverages Tyfone’s expertise in digital banking user experience (UX) and intellectual property (IP), which it developed through the successful deployment of the Instant Payment Xchange (IPX), a secure, scalable, and affordable money movement gateway to the FedNow Service.

The Instant Payment Xchange (IPX) has already converted nearly 30% of Same-Day ACH Credit transactions to Send transactions on push instant payment systems, offering a digital experience that seamlessly routes existing payment solutions through networks like FedNowWith the launch of Payfinia, Tyfone is poised to further revolutionise instant payments by elevating the digital user experience across the landscape.

Payfinia will offer solutions grounded in digital trust and security, enabling organisations across industries to access real-time payments with unprecedented efficiency and reliability. By shifting its IP and technology, including advanced UX and security protocols, from Tyfone to Payfinia, the company is poised to set a new standard in instant payments.

“We’ve seen remarkable results with our Instant Payment Xchange, achieving 50% less fraud compared to Same-Day ACH and fourfold reductions over other P2P solutions,” said Siva Narendra, CEO of Tyfone. “As we launch Payfinia, we’re doubling down on security with cryptographic, deterministic methods aimed at countering AI-driven fraud risks while ensuring instant payments remain efficient, secure, and accessible. This is just the beginning of Payfinia’s impact across industries.”

Laurent Desmangles, an expert in the financial technology sector, stated, “The shift to real-time payments is a transformative development for the financial sector as a whole. Innovations in this space are paving the way for faster, more secure transactions that benefit both consumers and businesses. As the industry embraces these advancements, we will see improvements in efficiency and trust, which are essential for modern financial ecosystems.”

In addition to partnering with financial institutions, Payfinia is also partnering with bank and credit union core processors and third-party digital providers to integrate instant payments into their traditional payment and money movement use cases, including A2A, P2P, Bill Payment, B2B, and B2C disbursements. This will extend the technology provider’s capabilities while providing users with a more robust payment ecosystem.

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