REPAY Reports Second Quarter 2019 Financial Results and Increases Outlook for Full Year 2019

ATLANTA–(BUSINESS WIRE)–Aug. 14, 2019– Repay Holdings Corporation (NASDAQ:RPAY), a leading provider of vertically-integrated payment solutions, today reported financial results for its second quarter of 2019.

“We are pleased with our results in the second quarter, which included year-over-year organic growth in card payment volume and gross profit of 27% and 33%, respectively.In addition, we expanded our integrated payment processing services into Canada, which was a strategic next step for the Company,” said John Morris, CEO of REPAY. “We have an excellent opportunity to modernize the large, fast growing and underserved verticals we currently address by delivering high quality payment technology.”

“We are thrilled to have completed our business combination with Thunder Bridge last month and secured a new credit facility, which provides us liquidity for growth, including future market expansions as well as strategic M&A, including the acquisition of TriSource Solutions, which we announced today,” continued Morris. “In addition, we are excited to work with our new Board and benefit from their deep experience in the payments space. We look forward to their guidance and support as we position our business for continued growth.”

Three Months Ended June 30, 2019 Highlights

  • Card payment volume was $2.2 billion, an increase of 27% over the second quarter of 2018
  • Total revenue was $36.2 million, an increase of 17% over the second quarter of 2018
  • Gross profit was $17.1 million, an increase of 33% over the second quarter of 2018
  • Net income was $4.2 million, a decrease of 7% over the second quarter of 2018
  • Adjusted EBITDA was $10.4 million, an increase of 24% over the second quarter of 2018
  • Adjusted Net Income was $7.8 million, an increase of 23% over the second quarter of 2018

Six Months Ended June 30, 2019 Highlights

  • Card payment volume was $4.7 billion, an increase of 30% over the first half of 2018
  • Total revenue was $75.5 million, an increase of 18% over the first half of 2018
  • Gross profit was $35.0 million, an increase of 32% over the first half of 2018
  • Net income was $9.0 million, an increase of 93% over the first half of 2018
  • Adjusted EBITDA was $21.8 million, an increase of 22% over the first half of 2018
  • Adjusted Net Income was $16.7 million, an increase of 22% over the first half of 2018

The financial information for the three and six months ended June 30, 2019 and the three and six months ended June 30, 2018 included in this press release reflects, and is based upon, information of REPAY prior to giving effect to the business combination with Thunder Bridge Acquisition Ltd. completed on July 11, 2019 (as further discussed below).

Adjusted EBITDA is a non-GAAP financial measure that represents net income adjusted for interest expense, depreciation and amortization and certain other non-cash charges and non-recurring items. Adjusted Net Income is a non-GAAP financial measure that represents net income adjusted for amortization of acquisition-related intangibles and certain other non-cash charges and non-recurring items. See “Non-GAAP Financial Measures” and the reconciliations of Adjusted EBITDA and Adjusted Net Income to their most comparable GAAP measure provided below. Gross profit represents total revenue less interchange and network fees as well as other costs of services.

Subsequent Events

On July 11, 2019, Repay Holdings, LLC, together with its parent, Hawk Parent Holdings, LLC (together, “Hawk Parent”), and Thunder Bridge Acquisition, Ltd. (“Thunder Bridge”), a special purpose acquisition company, announced that they completed their previously announced business combination under which Thunder Bridge acquired Hawk Parent for approximately $580.7 million in total consideration. Upon completion of the business combination, Thunder Bridge changed its name to Repay Holdings Corporation, and its Class A common stock began trading on the Nasdaq Stock Market under the ticker symbol “RPAY” on July 12, 2019.

On August 14, 2019 the Company announced the acquisition of TriSource Solutions for up to $65 million, which included a performance based earnout. The acquisition was financed with a combination of cash on hand and proceeds from borrowings under REPAY’s existing credit facility.

2019 Outlook

The addition of TriSource Solutions is expected to contribute between $8.0 million and $10.0 million in total revenue and between $2.25 million and $2.75 million in Adjusted EBITDA to the remainder of 2019.

REPAY now expects the following financial results for full year 2019, which reflects expected contributions from TriSource:

 Full Year 2019 Outlook
 Previous GuidanceUpdated Guidance
Card Payment Volume$9.2 billion$9.6 – 9.75 billion
Total Revenue$159.2 million$157.0 – 162.0 million
Gross Profit$71.6 million$74.0 – 76.0 million
Adjusted EBITDA$44.0 million$45.3 – 46.8 million

Revenue information for the full year 2019 outlook is presented in accordance with Accounting Standards Codification (“ASC”) 605. REPAY expects to adopt a new standard, ASC 606, when financial results for the full year ended December 31, 2019 are reported. In addition, REPAY does not provide quantitative reconciliation of forward-looking, non-GAAP financial measures such as forecasted 2019 Adjusted EBITDA to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have significant impact on such calculations, and providing them may imply a degree of precision that would be confusing or potentially misleading.

Conference Call

REPAY will host a conference call to discuss second quarter 2019 financial results today at 5:00 pm ET. Hosting the call will be John Morris, CEO, and Tim Murphy, CFO. The conference call can be accessed live over the phone by dialing (877) 407-3982, or for international callers (201) 493-6780. A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 or (412) 317-6671 for international callers; the conference ID is 13692995. The call will be webcast live from REPAY’s investor relations website and the replay will be available at https://investors.repay.com/investor-relations.

Non-GAAP Financial Measures

This communication includes certain non-GAAP financial measures that REPAY’s management uses to evaluate its operating business, measure its performance and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure that represents net income prior to interest expense, depreciation and amortization, as adjusted to add back certain non-cash and non-recurring charges, such as loss on extinguishment of debt, non-cash change in fair value of contingent consideration, share-based compensation charges, transaction expenses, management fees, legacy commission related charges, employee recruiting costs, loss on disposition of property and equipment, other taxes, strategic initiative related costs and other non-recurring charges. Adjusted Net Income is a non-GAAP financial measure that represents net income prior to amortization of acquisition-related intangibles, as adjusted to add back certain non-cash and non-recurring charges, such as loss on extinguishment of debt, non-cash change in fair value of contingent consideration, transaction expenses, share-based compensation expense, management fees, legacy commission related charges, employee recruiting costs, loss on disposition of property and equipment, strategic initiative related costs and other non-recurring charges. Adjusted Net Income is adjusted to exclude amortization of all acquisition-related intangibles as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible amortization supplements GAAP financial measures because it allows for greater comparability of operating performance. Although we exclude amortization from acquisition-related intangibles from our non-GAAP expenses, management believes that it is important for investors to understand that such intangibles were recorded as part of purchase accounting and contribute to revenue generation. REPAY believes that Adjusted EBITDA and Adjusted Net Income provide useful information to investors and others in understanding and evaluating its operating results in the same manner as management. However, Adjusted EBITDA and Adjusted Net Income are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for net income, operating profit, or any other operating performance measure calculated in accordance with GAAP. Using these non-GAAP financial measures to analyze REPAY’s business has material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in REPAY’s industry may report measures titled Adjusted EBITDA, Adjusted Net Income or similar measures, such non-GAAP financial measures may be calculated differently from how REPAY calculates its non-GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, you should consider Adjusted EBITDA and Adjusted Net Income alongside other financial performance measures, including net income and REPAY’s other financial results presented in accordance with GAAP.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “guidance,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding REPAY’s industry and market sizes, future opportunities for REPAY and REPAY’s estimated future results, including the full year 2019 outlook. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

In addition to factors previously disclosed in prior reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: a delay or failure to realize the expected benefits from the business combination; a delay or failure to integrate and realize the benefits of the TriSource acquisition and any difficulties associated with operating in the back-end processing markets in which REPAY does not have any experience; changes in the payment processing market in which REPAY competes, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in the vertical markets that REPAY targets; risks relating to REPAY’s relationships within the payment ecosystem; risk that REPAY may not be able to execute its growth strategies, including identifying and executing acquisitions; risks relating to data security; changes in accounting policies applicable to REPAY; and the risk that REPAY may not be able to develop and maintain effective internal controls.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about REPAY or the date of such information in the case of information from persons other than REPAY, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding REPAY’s industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for lenders, while enhancing the overall experience for consumers.

The financial updates included in this press release for the historical periods indicated below reflect, and are based upon, the information of REPAY prior to giving effect to the business combination with Thunder Bridge Acquisition Ltd.


View source version on businesswire.com: https://www.businesswire.com/news/home/20190814005701/en/

Source: Repay Holdings Corporation

Investor Relations Contact for REPAY: 
repayIR@icrinc.com

Media Relations Contact for REPAY: 
Kristen Hoyman 
khoyman@repay.com

REPAY Announces the Acquisition of TriSource Solutions

ATLANTA–(BUSINESS WIRE)–Aug. 14, 2019– Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”) (“the Company”), a leading provider of vertically-integrated payment solutions, today announced the acquisition of TriSource Solutions (“TriSource”), for up to $65 million, which includes a performance based earn out. The acquisition was financed with a combination of cash on hand and proceeds from borrowings under REPAY’s existing credit facility.

TriSource, founded in 2007, provides back-end transaction processing services to independent sales organizations (“ISO’s”) and operates as a direct ISO on behalf of its owned portfolios and external sales agents. TriSource is headquartered in Bettendorf, IA with an additional office in East Moline, IL. Since 2012, TriSource has been REPAY’s primary third-party processor for back-end settlement solutions and a valuable partner that has supported the Company’s growth.

“TriSource will enable us to build more intelligent payment solutions and bring these solutions to our customers faster. Additionally, we see the potential for strong organic growth in TriSource’s back-end settlement business, and our long partnership with TriSource has illustrated its inherent value proposition. We are looking forward to leveraging TriSource’s capabilities to drive continued growth. Further, the acquisition enhances our M&A strategy, as having our own back-end transaction processing capabilities will allow us to reduce future targets’ transaction processing costs and to expedite other synergy realization efforts. The TriSource acquisition will be immediately and meaningfully accretive to earnings,” said John Morris, CEO of REPAY.

“We are excited to join the REPAY team,” said Deborah Brown, COO of TriSource Solutions. “We have partnered with REPAY for many years and believe they will help us to accelerate our processing business growth. We look forward to working alongside the REPAY team to drive long term growth at the combined company.”

“TriSource owners Henry Harp and Bill Brockway, along with the company’s executive management team, have built a top-tier organization. I’ve had the pleasure of working alongside the TriSource team over the past seven years and believe adding them to the REPAY family will be beneficial to all parties. I would like to take this opportunity to welcome them to our organization,” said Shaler Alias, President of REPAY.

Transaction Details

  • REPAY acquired TriSource for up to $65 million
    • $60 million was paid at closing
    • Up to $5 million is structured as a performance based earn out
  • The acquisition was financed with a combination of cash on hand and borrowings under REPAY’s existing credit facility
  • Annualized Adjusted EBITDA is expected to be approximately $7.0 million
  • Combined net leverage expected to be approximately 3.5x on a post-transaction basis1

1 Calculated based on the estimated twelve months ended September 30, 2019 Adjusted EBITDA of REPAY and TriSource on a combines basis, after giving effect to new borrowings under the existing credit facility and assuming that all cash and cash equivalents, on a combined basis, offset REPAY’s post-transaction indebtedness.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding REPAY’s industry and market sizes, future opportunities for REPAY and REPAY’s estimated future results, including the full year 2019 outlook. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

In addition to factors previously disclosed in prior reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: a delay or failure to realize the expected benefits from the business combination; a delay or failure to integrate and realize the benefits of the TriSource acquisition and any difficulties associated with operating in the back-end processing markets in which REPAY does not have any experience; changes in the payment processing market in which REPAY competes, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in the vertical markets that REPAY targets; risks relating to REPAY’s relationships within the payment ecosystem; risk that REPAY may not be able to execute its growth strategies, including identifying and executing acquisitions; risks relating to data security; changes in accounting policies applicable to REPAY; and the risk that REPAY may not be able to develop and maintain effective internal controls.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about REPAY or the date of such information in the case of information from persons other than REPAY, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding REPAY’s industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for lenders, while enhancing the overall experience for consumers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190814005646/en/

Source: Repay Holdings Corporation

Investor Relations for REPAY: 
repayIR@icrinc.com

Media Relations for REPAY: 
Kristen Hoyman 
khoyman@repay.com

REPAY Launches ‘Instant Funding’ in Canada

Visa Direct enables seamless real-time1 push payments for 24/7/365 access to funds

ATLANTA–(BUSINESS WIRE)–Aug. 13, 2019– Repay Holdings Corporation, (NASDAQ: RPAY) (“REPAY”) a leading provider of vertically-integrated payment solutions, announced today the launch of its Instant Funding product in Canada. Instant Funding is a new and innovative service that allows lenders to send funds directly to eligible Visa debit and prepaid cards via electronic transactions enabled by Visa Direct and made available through REPAY’s financial institution partner.

Instant Funding transactions are processed in real-time2 via Visa Direct, Visa’s real-time push payments platform, which reverses a normal transaction, “pushing” the funds to an eligible Visa debit or prepaid card. With REPAY Instant Funding, Canadian lenders and finance companies can disburse funds 24/7/365 and replace traditional checks and EFT transactions with real-time transactions, which means customers no longer have to wait days for funds to become available.

“After a successful launch in the U.S., we are extremely excited to bring our Instant Funding product to the Canadian market,” said Susan Perlmutter, Chief Revenue Officer of REPAY. “Our technology removes the friction and processing delays often associated with traditional fund disbursements and enables lenders to provide fast, convenient and secure funding experiences to their customers.”

“In partnership with REPAY, we’re eager to deliver a payment solution to help lenders run their businesses more efficiently,” said Brian Weiner, Vice President & Head of Product, Visa Canada. “We launched Visa Direct because we understand that easy, convenient and secure access to funds is critical to enabling growth for lenders.”

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for lenders, while enhancing the overall experience for consumers.

___________________ 
1 Actual fund availability depends on receiving financial institution and region. Visa requires fast-funds enabled issuers to make funds available to their recipient cardholders within a maximum of 30 minutes of approving the transaction. Please refer to the Visa Direct team and the Visa Direct Original Credit Transaction Global Implementation Guide for more information. 
2 See citation 1

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20190813005087/en/

Source: Repay Holdings Corporation

For REPAY 
Investor Relations: 
repayIR@icrinc.com 

Media Relations: 
Kristen Hoyman 
(404) 637-1665 
khoyman@repay.com

REPAY and Visa Canada Announce Partnership to Expand Online Payment Acceptance in Canada

ATLANTA–(BUSINESS WIRE)–Aug. 13, 2019– Repay Holdings Corporation, (NASDAQ:RPAY) (“REPAY”) a leading provider of vertically-integrated payment solutions, and Visa Canada announced today a strategic partnership that will seek to expand debit card and online payment acceptance for the Canadian personal loans market.

The partnership aims to bring speed and convenience to the traditional debt repayment process by reducing the complexity of online payments and lowering the costs associated with debit card acceptance.

Together, the companies are making it easier for Canadian lenders and finance companies to accept debit cards as a form of repayment in a card-not-present environment. Visa has made debit card payments a viable alternative to cheques and ACH. Paying off debt with a Visa debit card has major advantages for both the consumer and for the lender – for consumers, debit card payments offer zero liability*, making them a safe and secure payment method. For lenders, it improves customer service by making the billing and payment experience easy. This is crucial, because the billing and payment experience is the most influential driver of customer satisfaction in lending1. REPAY’s payment technology gives consumers the flexibility to make their loan payments with a debit card and transforms the online payment process into an easy, convenient and pleasant experience.

“We believe this initiative with Visa will bring innovation and convenience to a previously underserved market,” said John Morris, CEO of REPAY. “Our omni-channel integrated payment platform removes the friction from the debt repayment process by giving merchants the ability to securely accept debit cards 24/7/365 in an automated setting.”

“We’re excited to partner with REPAY to offer merchants the opportunity to greatly improve customer service with an easy, safe, and fast payment solution,” said Brian Weiner, Vice President & Head of Product, Visa Canada. “Widening the acceptance of Visa Debit for debt repayment means more convenience for millions of Canadian Visa Debit cardholders, and efficiencies for lenders and merchants.”

About REPAY 
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers.

1 Source: AYTM 2017 Debt Repayment Survey, Quantitative research to understand consumer landscape and preference; Commissioned by Visa; Target: 400 US, Men and Women, 18+ years old; July 17-18, 2017
*Visa Zero Liability is not applicable to anonymous Visa Prepaid, Corporate and Commercial cards. Required keeping account and PIN safe. Other conditions and restrictions apply. Cardholders should refer to their issuer cardholder documentation for more details.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190813005081/en/

Source: Repay Holdings Corporation

For REPAY 
Investor Relations: 
repayIR@icrinc.com

Media Relations: 
Kristen Hoyman 
(404) 637-1665 
khoyman@repay.com

Speed of Payments: Which Payment Method is Fastest?

When people consider adding payment processing to their business operations, their first thought is credit and debit cards quickly followed by ACH and check processing. The truth is, there are a lot of options out there, and they all come with their own unique benefits.

While digital payment methods, such as digital wallets and near field communication (NFC) payments, are growing in popularity, the three primary non-cash payment methods are credit/debit cards, ACH, and physical checks. It’s sensible for businesses to offer multiple payment methods – it’s a convenience for customers and ultimately means more payments and fewer delinquencies for the business.

But of the three most common methods, which one is the fastest?

ACH is Getting Faster

If you are a B2B business, your payments program has to include ACH processing. In a 2018 Statista survey, 53% of survey respondents identified ACH as the most preferred B2B payment method in North America.

The good news is ACH processing is faster than checks, especially with the arrival of same day funding. Same day ACH lets businesses collect funds faster and reduces the risk of returned ACH transactions due to insufficient funds. If payments are made before the cutoff time, the funds are available in about 3-4 hours, no later than 5pm EST that same day. If the transaction is processed after the cut off time, funds are available the next banking day by 9am RDFI (receiving depository financial institution) local time. Of course, there are exceptions. High-value transactions above $25,000 are not yet eligible for same day funding, but NACHA recently passed a rule that will increase the per-transaction dollar limit for same day ACH transactions from $25,000 to $100,000 effective March 20, 2020. Another important thing to note is ACH transactions can’t be processed on banking holidays when the Federal Reserve Bank is closed.

Checks

Although checks are still around and popular, they were by far the least preferred payment method in the survey. There’s really no surprise here, thanks to several reasons, including:

  • Travel Time: if physical checks are mailed, 3-5 days are wasted before the payment even begins to be processed.
  • Resource Drain: a person must handle the checks, which takes away from other duties and responsibilities. In order to maintain good financial controls and prevent embezzlement, a second person usually deposits or posts the checks.
  • Process Time: whether you receive or send them, it takes time and money to cut, mail and process the checks. Small businesses can lose between $4-20 processing a check.

So how long does it take a check to clear? It’s a good question and no one seems to know for sure. The biggest variable is the bank because every bank’s policy is different. When it comes to checks, two banks are involved – the merchant’s bank and the consumer’s bank. Best case scenario, funds become available 24-48 hours after the check is deposited, but it can sometimes take much longer. Even with remote check deposit, banks still place a hold on the funds.

According to PYMNTS.com, checks are still around because they meet three main criteria for businesses:

  1. Checks move money from one entity to another.
  2. They allow data and documents to travel along with the payment (for proper tracking, diligence, accounting, and taxes).
  3. Businesses can develop workflows around them.

While checks are a prominent form of payment, their dominance is shrinking due to their resource requirements and time constraints.

Card Payments

Merchants who accept card payments are generally funded for those transactions within 24 to 48 hours – much faster than the funding time for most paper check scenarios. The settlement time for card payments is now even faster thanks to push payment technology. With this new technology, funds are available within 30 minutes; in most cases, however, they are available within seconds after transaction approval. The real-time processing and funding of push payments eliminates the waiting period associated with ACH and paper checks.

The Fastest Combo

So which payment method is fastest? It’s a combination of ACH with its same day funding enhancements and push-to-card payments. Both enable funds to clear the same day, giving you quick, if not immediate, access to money.