Payments

Sila launches instant settlement with ACH

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August 24, 2023

Sila, a fintech, launched Instant Settlement to provide customers with access to ACH debits on its platform. With this service, customers don't need to pre-fund transactions and can eliminate delays of ACH debits, according to a press release.

Sila pre-funds customer's digital wallets for better cash flow management. They must maintain sufficient funds in a reserve wallet to handle any return risks.

"With Instant Settlement, we are revolutionizing the way businesses and individual's access and manage their funds," Shamir Karkal, co-founder and chief strategy officer at Sila, said in the release. "We understand the importance of transaction speed in today's fast-paced business landscape, and by offering Instant Settlement, we are providing our customers with a competitive advantage that sets them apart in their respective industries."