VSoft Launches Bread, the Latest Entry in the Real-Time Payments Sweepstakes
VSoft Corp., a provider of digital-banking and payment solutions to financial institutions, on Wednesday launched the Bread network, a peer-to-peer, consumer-to-business, business-to-consumer, and business-to-business payment network.
Bread enables real-time payments between financial institutions within its network. Money sent and money received is kept within the users’ respective financial-institution accounts, as opposed to a holding account owned by a fintech provider.
In addition to these payments, users can initiate same-day ACH, traditional ACH, and Clearing House Real-Time Payments service if one or both of the user’s financial institution is not in network. VSoft included these alternative payment options to broaden its appeal to consumers and merchants and position itself as a complete payment offering.