"The service is convenient for entrepreneurs, because the alternative is a transfer from a current account using bank details. This causes anxiety and raises the question of trust. Everyone is usually nervous because the transfer takes a long time and depends on the banking day. But the money falls on the card in a couple of minutes. Here your taxi drivers have closed the shift, here they are standing in front of you and you can instantly send them money to their accounts," says Pavel Semenov, Chairman of the Board of Modulbank.
The instant mass payment service can be used from the bank's personal account or you can configure the API and use instant transfers as part of your product or service - for example, in a mobile application. Entrepreneurs use the API connection to organize settlements with counterparties, employees and other individuals. Taxi fleets pay rewards to taxi drivers for the shift. Pawnshops transfer money to customers who have pledged goods. Many businesses use a similar model for settlements with counterparties. For example, an employee in the office can settle with a janitor or other temporary worker using the module for 1C.
As part of the API, it is possible to issue your own tokens, see who is accessing the interface and separate authorization information. You can also independently manage the withdrawal of money from different current accounts. To connect to the API, you need to contact the bank's chat, tell us what kind of work scheme is needed and what the volume of business is. Modulbank has a reserve of server capacity and in most cases, developers will quickly make the necessary settings.