By PYMNTS
Publication Date: 2026-08-12 19:40:00
With this integration, Sionic can offer real-time, bank-to-bank payments at the point of sale, the company said in a Wednesday (Aug. 12) news release.
“Sixteen years ago, we set out to build the future of low-cost payments in America. Today, that future is here. Instant Bank Pay is the real-time, bank-to-bank payment service for commerce in the U.S.,” said Ronald Herman, Sionic’s founder and CEO. “Using Microsoft Foundry has helped us bring it to merchants, businesses, and financial institutions.”
According to the release, the service uses the FedNow® Service and the RTP® Network through banking partners to send cash digitally within seconds from payers’ checking accounts to payees. Sionic said it had begun a pay-by-bank proof of concept in late 2024, but found there were crucial pieces necessary from both bank rails.
These include no alias directory like the one found with Zelle; no fraud detection for point-of-sale transactions; and no support for payment…