US-based BaaS provider Pathward has extended its partnership with paytech Dash Solutions and launched custom payout solution SpendIT SendIT. Combining Pathward’s embedded finance capabilities with Dash’s disbursement solution for digital payments, SpendIT SendIT is a unified payout system that features real-time delivery of various payment types and offers flexible access for consumers to spend or send the funds they receive.

Dash Solutions serves the growing need for instantaneous and seamless disbursements to consumers, aiming to streamline the payout process for businesses and reduce administrative expenses. According to the press release, despite the annual commercial spend of over USD 100 trillion, many companies still count on conventional payment methods like checks and ACH. Dash's new approach involves disbursing funds to recipients as virtual cards through email or SMS.

Streamlining disbursements with virtual cards for real-time financial flexibility Dash Solutions’ disbursement feature delivered as a virtual card via email or SMS – streamlines the digital payment process by offering a single and secure solution for all payment types. The solution provides flexible payout and disbursement options for corporate payers and easy portability of funds for the consumer. Most importantly, it will grant consumers real-time access to funds, enhancing consumers’ financial flexibility, while also increasing efficiency and reducing costs for payers by eliminating manual processes such as physical check delivery to recipients.

Using SpendIT SendIT, consumers can spend funds through their virtual card with mobile wallet provisioning, allowing them access to add funds to mobile pay wallets, such as Apple Pay or Google Pay. For consumers who choose not to transact with the virtual card, the solution enables consumers to transfer funds to other accounts they own, including PayPal and Venmo, push to debit cards, bank ACH transactions, or check. Officials from Pathward said their company excels on the strength and growth of their partnerships, and the combined advantage of collaborating with Dash Solutions brings a unique synergy.

Their partnership with fintechs has the power to solve tough challenges with large-scale programmes that create greater flexibility, accessibility, and inclusion in the financial system. They are happy to partner with Dash Solutions for the rollout of SpendIT SendIT. Together, they are tapping into an unmet need in embedded finance and the solution aims to deliver swift disbursement and access to funds.

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