Paymints.io is a technology company focused on the real estate sector. The company offers a secure, digital platform that enables buyers to transfer funds for various types of real estate transactions, including earnest money deposits and cash to close on refinances. Additionally, escrow holders and settlement agents can disburse funds to clients or vendors using the platform. It was founded in 2020 and is based in Charlotte, North Carolina.
Paymints.io's Products & Differentiators
The consumer facing solution offers a Venmo-like experience where the transfer can be initiated from any internet connected device within 90 seconds. The solution reduces delays and uncertainty by providing increased transparency with real-time tracking, a benefit not available with paper checks or wire transfers.
Latest Paymints.io News
Oct 4, 2023
Cross River and paymints.io augment real estate transactions Wednesday 4 October 2023 08:55 CET | News Cross River and paymints.io have expanded their partnership to bring real-time payments to the latter’s customers over The Clearing House ’s RTP network. This collaboration will offer businesses and consumers real-time access to funds, a critical factor when transferring money for high dollar value transactions. Traditional real estate transactions are often hindered by slow and cumbersome payment processes, creating friction in an already challenging macroeconomic and real estate environment. Earlier in 2023, Cross River and paymints.io partnered to modernise real estate transactions with ACH (including same day) as well as domestic wire capabilities. Now, the companies will further streamline financial transactions by eliminating paper checks, reduce settlement times, mitigate instances of wire fraud, and provide real estate professionals, buyers, and sellers with immediate access to funds. Revolutionisng real estate transactions with RTP network integration Adding the RTP network to its suite of existing payment rails enables Ppaymints.io to facilitate the movement of funds and facilitate the receipt of money deposits, client, and vendor disbursements to third parties, as well as intracompany and interdepartmental account to account transfers. By providing a seamless implementation into an organisation's existing infrastructure, Paymints.io equips real estate companies with a compliant and modern payments experience without the time and expense of a complete system replacement. Officials from Cross River said that one of the most impactful benefits of their proprietary banking core is the ability to scale with their partners, allowing players like paymints.io to grow and expand product offerings. paymints.io is transforming financial transactions within the real estate industry and they’re happy to power their real-time payment capabilities. Highlighting the significance of real-time payments, the team at paymints.io stated that integrating RTP instant payment capability into their payment process designed exclusively for real estate transactions signifies more than just adding a payment rail. They see it as a genuine evolution of their product, enabling instant and secure fund transfers for real estate professionals and enhancing the overall transaction experience with real-time visibility. Providing access to real-time payments through API Cross River’s operating system, a proprietary API-based core, creates a streamlined connection between Cross River and The Clearing House’s RTP network, removing the need for reliance on third-party providers for end-to-end, real-time money movement. Combined with its comprehensive regulatory and compliance framework, the company’s infrastructure plays a vital role in supporting the innovation of financial technology, reducing friction in financial transactions, and promoting financial inclusion. The new offering will improve stakeholder experience in a variety of real estate use cases including allowing prospective home buyers to deposit earnest money directly from their checking account when making an offer on a home and providing escrow holders and settlement agents the ability to disburse funds to clients and vendors safely and in real-time —without sharing routing and account numbers. The paymints.io platform, powered by Cross River’s operating system, combines multiple payment rails to facilitate the movement of funds for the entire transaction, giving stakeholders much needed security, transparency, and control of how and when funds are moved. Representatives from The Clearing House expressed their satisfaction in contributing to the transformation of the real estate closing process. They enable banks like Cross River to send secure instant payments for their customers, streamlining the process over the RTP network. The network's USD 1 million transaction limit supports multiple real estate transactions and offers payment confirmation, eliminating uncertainties about payment statuses. Free Headlines in your E-mail Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Paymints.io Frequently Asked Questions (FAQ)
When was Paymints.io founded?
Paymints.io was founded in 2020.
Where is Paymints.io's headquarters?
Paymints.io's headquarters is located at 8000 Corporate Center Drive, Charlotte.
What is Paymints.io's latest funding round?
Paymints.io's latest funding round is Unattributed.
How much did Paymints.io raise?
Paymints.io raised a total of $3M.
Who are Paymints.io's competitors?
Competitors of Paymints.io include DepositLink and 3 more.
What products does Paymints.io offer?
Paymints.io's products include Incoming and 1 more.
Compare Paymints.io to Competitors
Bank Shot is a company that operates in the financial technology sector, with a specific focus on real estate transactions. The company offers a mobile application that facilitates the sending and receiving of payments related to real estate transactions, such as earnest money, commission checks, and broker fees. The app allows users to scan physical checks, which are then cleared within a day, providing a quick, secure, and compliant method of payment. The company primarily serves the real estate industry. It was founded in 2014 and is based in Atlanta, Georgia.
ZOCCAM, founded in 2002, streamlines the home buying experience by enabling the parties to send funds and documents to the title company and lender, as well as verify the borrower's identity. It is based in Dallas, Texas.
Earnnest provides a digital platform. The platform allows buyers to deposit funds directly to an escrow holder to keep agents, buyers, and escrow holders in the loop with automated emails and tracking information. It was founded in 2017 and is based in Greenville, South Carolina.
DepositLink is a company that focuses on providing digital payment solutions within the real estate industry. The company offers a secure platform for real estate companies, escrow agents, and rental companies to collect earnest money deposits, rental payments, agent commissions, refunds, and closing funds electronically, eliminating the need for paper checks and reducing the risk of wire fraud. The company primarily serves the real estate industry. It was founded in 2021 and is based in Milton, Massachusetts.