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Galileo rolls out wire transfer API for fintechs

Finextra

NASDAQ: SOFI), today announced it is arming fintechs with wire transfer capabilities, enabling them to better serve consumers and businesses by offering another option for fast, secure money movement. Galileo Financial Technologies, a leading financial technology company owned by SoFi Technologies, Inc.

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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

If you’ve been accepting and using electronic payments in your business, you’ve probably come across two of the most popular terms in the digital payments scene— automated clearing house (ACH) and wire transfer. International wire transfers can take up to 7-10 days Costs and fees Around 1% of the payment amount.

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Galileo Financial Technologies Helps Fintechs Meet Demand for Fast, Secure Money Movement With Wire Transfer Capabilities

Fintech Finance

NASDAQ: SOFI), today announced it is arming fintechs with wire transfer capabilities, enabling them to better serve consumers and businesses by offering another option for fast, secure money movement. According to Fedwire Funds Service, in 2023 it processed more than 193 million wire transfers.

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The Difference Between ACH and Wire Transfers

Clearly Payments

Whether you’re dealing with routine bills, processing paychecks, or handling high-stakes international transfers, understanding the nuances of electronic fund transfers (EFTs) is crucial. When it comes to electronic payments, two major players stand out in the United States: ACH transfers and wire transfers.

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ACH vs Wire Transfers

Paymerang

The terms “ACH transfer” and “wire transfer” are frequently used interchangeably. You may even find the phrase “ACH/wire transfers accepted” on some business websites, making it reasonable to assume the two are the same.

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Galileo Financial Technologies launches wire transfer capabilities

The Paypers

Galileo Financial Technologies has announced the launch of wire transfer capabilities in order to help fintechs meet the demand for fast and secure money movement.

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Wire Transfer vs Direct Deposit: Which is Best for Your Business?

Paystand

However, two stand out regarding security, convenience, and cost-effectiveness: wire transfer and direct deposit. Online B2B payment platforms have the substantial advantage of offering customers many payment methods.