Invoice payment solution InvoiceASAP has partnered with leading fintech Adyen to streamline access to FedNow’s instant deposits for its customers.
The company will leverage Adyen’s single global solution, Adyen for Platforms, which enables users to sign up, sell and get paid through a single solution.
Paul Hoeper, InvoiceASAP CEO, said: “InvoiceASAP is building the most advanced Invoice to Pay solution. Adyen gives us access to the most advanced payment products and tools, including FedNow for Instant Deposits.
“We are fully focused on providing the fastest velocity of bank deposits for our over 23,000 merchants. By combining Adyen’s Instant Payouts and new Cash Out functionality, we can provide our users with unmatched velocity.”
InvoiceASAP merchants are primarily field service businesses that require quick access to capital for expenses. As an early adopter of Adyen’s Cash Out feature, the firm is able to offer its users instant access to pending funds, bypassing the usual multi-day waiting period.
Adyen was among the first fintech platforms certified by the Federal Reserve to utilise its instant payment infrastructure, FedNow, last summer.
The Dutch payment service is leveraging its FedNow certification to meet the needs of Fintech solution providers such as InvoiceASAP, aiming to make the money moving process faster and more efficient.
Davi Strazza, President of Adyen, North America, added: “Our partnership with InvoiceASAP underscores Adyen’s commitment to continued innovation.
“Our FedNow certification allows for instantly-available deposits and cash advances, enabling InvoiceASAP users to better manage cash flow, scale operations, and invest in the tools they need to thrive.”