California-based linked2pay, a banking and payments technology provider, and Push Payments, a real-time payments platform provider, have announced that real-time payments are now an option on the Bank Centric Payments platform.

This enables partners on the bank-integrated platform to offer both real-time and ACH payments, including same-day ACH, as their own fully integrated, white-label product, according to a press release.

"We are excited to work with linked2pay as a partner in the delivery of real-time payments," Travis Dulaney, CEO of Push Payments, said in a statement. "The consolidation of risk management and payment solutions on the Bank Centric Payments platform is ideal as a host environment. It gives our mutual bank and channel partners an extraordinary real-time and ACH value package as they promote faster payments."

Example applications for real-time funds transfer include corporate disbursements for contractors and services; insurance claim payouts to providers; commission and reward disbursements; account-to-account transfers; loan disbursements; and business-to-consumer payments or funds transfers, according to the announcement.

"This gives merchants a new feature within a platform they already use for payments. It also gives them control over the speed of a payment based on the type of transaction so that the speed can match the urgency," said Richard McShirley, CMO of linked2pay.