Sionic launches “Pay-By-Bank” real-time payment (RTP) service for US merchants

New service offers direct customer point-of-sale deposits to merchants via mobile, online, in-store or in-vehicle experiences

ATLANTE, June 14, 2022–(BUSINESS WIRE)–Zionic, a leading provider of consumer-to-business omni-commerce payment solutions, today announced the launch of the industry’s first real-time payment service enabling cross-bank digital cash deposits at the point of sale. In addition to receiving funds immediately, merchants benefit by avoiding costly credit card swipe fees. The company has aligned with leading financial institutions, payment processors and e-commerce partners to bring pay-by-bank to the customer checkout experience.

Sionic’s RTP service includes an option for merchants to incentivize their customers to pay with their bank accounts rather than expensive rewards-based credit cards. Pay-by-Bank benefits include instant cash back (discount), spend x, get y or free goods and services – all at the sole discretion of each merchant.

“This is a good step forward to help traders fight inflation,” said Ronald Herman, Founder and CEO of Sionic. “From local businesses to global corporations, merchants continue to be plagued by credit card fees. In 2020, these fees amounted to over $110 billion. Consumers have also racked up an abundance of late fees from those same credit card companies.Bringing instant digital banking payments to commerce offers a new way to reallocate value more equitably to merchants and consumers. The Great Reassignment digital payments is here.”

About Sionic

Atlanta-based Sionic is leading the great digital payments reallocation by offering instant bank-to-bank transfers from consumers to merchants. Sionic’s first-to-market, ULink™, brings real-time direct deposits to the point of sale via mobile, online, in-store or in-vehicle experiences. The company has partnered with leading financial institution owners of the RTP network for banking payments and CyberSource, a Visa solution, for secure processing of card payments. Merchants who accept real-time payments avoid costly card swipe fees and immediately receive cash deposits at the point of sale. Consumers receive special benefits for paying with their bank accounts.

For more information, visit or follow the company on Twitter at @Sionic_io

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For Zionic
Anna Stanley/Catherine Laws
251.517.7857/678.781.7206 /

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