Rewards Issuers Now Have The Option to Quickly Deliver Payments Via Direct Deposit – Thanks to the Virtual Incentives’ API and Stripe’s Platform
August 26, 2022 – NEW YORK – Virtual Incentives, the payment platform that drives engagement and inspires action, today announced its clients can now use the Stripe platform to deposit rewards payments directly into recipients’ bank accounts. Connecting to Stripe’s platform directly through the Virtual Incentives API enables organizations to make next-day payments through the Automated Clearing House Network (ACH) to recipients in the US and Canada.
Virtual Incentives supports businesses and government organizations that are looking for a seamless and cost-effective way to automate the delivery of payments to their incentive recipients. Virtual Incentives makes it easy for its clients to deliver payouts, incentives, or rewards to customers or employees through multiple fast delivery options including to their email addresses, mobile apps, and bank accounts.
“Creating an easy and meaningful payment experience requires offering recipients choice and convenience in their payment delivery options,” said Ashley McCutcheon, Vice President of Product Development, Virtual Incentives. “Our partnership with Stripe plays a critical role in our ability to help our clients offer a wide range of payments and financial services to ensure they meet the high expectations of today’s digitally savvy consumers.”
Stripe Connect provides Virtual Incentives’ clients with the fastest and easiest way to integrate the direct deposit option into their rewards programs. Stripe delivers the ability to issue payments to recipients quickly and reduce operational overhead with its global routing and payout engine.
Virtual Incentives is constantly working to develop new ways for its clients to deliver reward payments that their target audiences find engaging and easy to use. In addition to expanding delivery options, the Virtual Incentives roadmap includes enabling payment recipients to select from multiple, innovative formats such as cryptocurrency, shares of stock, or rebates applied to student loan payments.
About Virtual Incentives
Virtual Incentives is the payments platform for engagement and action. Its mission is twofold: make it quick and easy for its clients to deliver payouts, incentives, or rewards to their customers or employees anywhere in the world; and to help its clients learn more about their customers and employees. Virtual Incentives delivers more than 40 million payments per year across 57 countries in 72 currencies. Virtual Incentives sets itself apart through its tailored approach to customer service and its technological innovation that enables companies to create payment experiences that deliver value, engagement and transparency. For more information about Virtual Incentives, visit www.virtualincentives.com.