Sionic and Google Cloud expand partnership to boost bank-to-bank payments

By Delisha Fernandes

Sionic, a provider of omni-commerce, bank-to-bank payment services, announced an expansion of its long-standing partnership with Google Cloud with the integration of Google Cloud’s generative AI (gen AI) technology into Sionic’s Verified Rapid Payments (VRP) Commerce Gateway.

Sionic is committed to bringing real-time, bank-to-bank payments to checkouts in the US market. Using Google Cloud’s gen AI significantly streamlines customer care efforts, including onboarding and dispute resolution processes for payers and payees, resulting in a frictionless, enhanced customer experience.

Unlike credit card payments, where payers dispute transactions with the card issuer, Sionic’s services allow payers and payees to resolve disputes directly and instantly with one another, relieving the burden on financial institutions providing the deposit accounts. Both parties have access to each other’s TrustMe scores before payment transactions are approved, helping to reduce disputes before they occur.

“Generative AI is transforming industries, including the financial sector,” said Manvinder Singh, managing director, Partnerships at Google Cloud. “Our integration with Sionic demonstrates the power of AI in revolutionising payment solutions and improving customer experiences.”

Sionic’s trust-based services can deliver digital cash payments between payers and payees through online, mobile, in-store and in-vehicle experiences. Payees receive cash deposits in their bank accounts within seconds and bypass expensive credit card fees. With improved onboarding processes, users may seamlessly navigate through Sionic’s Pay-by-Bank (PbB) microsite, aided by AI-guided assistance.

“At Sionic, we are committed to delivering exceptional payment solutions that prioritise security, customer care, and operational efficiency,” said Matt Watson, chief technology officer at Sionic. “By integrating Google Cloud’s gen AI, we can offer our customers a superior experience. This integration enhances our solutions and reinforces our strong partnership with Google Cloud.”