Embedded payment technology provider VoPay has introduced its digital transaction and cash management banking platform dubbed TXB.
The new platform is designed to support banks and credit unions in launching application programming interface (API)-first transaction banking and cash management services.
According to VoPay, TXB’s approach simplifies and automates corporate treasury operations. It provides businesses with greater control and flexibility in managing their finances.
It will also enable financial institutions across North America to introduce a portfolio of API-first solutions.
The solutions will support virtual accounts, multi-currency cash management, multi-layer ledger management, and process automation across various payment rails, as well as real-time visibility and centralisation of cash.
TXB’s key features include sending, receiving, and managing white-label payments and accounts globally. It will also help to get end-to-end visibility, from initiation to beneficiary credit, with details on the payment journey, charges, and credit timing.
Besides, the new platform originates payments and collections on demand.
TXB also delivers real-time liquidity management, allowing the automation for key treasury functions for better efficiency. It also combines business banking capabilities directly into products.
VoPay founder and CEO Hamed Arbabi said: “We are thrilled to unveil TXB, the latest evolution of the VoPay platform.
“This launch is a direct response to the evolving needs of businesses as we continually strive to anticipate and address the next frontier in business solutions, empowering organisations to scale and operate with greater efficiency.”
“I am immensely proud of the innovative spirit exhibited by our team and the unparalleled uniqueness of this product. With unwavering support from our partners and customers, TXB is poised to elevate VoPay to new heights on a global scale.”
