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Collaboration provides Moov's customers and resellers with funds-in/funds-out capabilities for eligible debit cards and faster card acquiring settlement speeds
DENVER, CO / ACCESS Newswire / March 5, 2025 / Moov Financial, a leading provider of modern payment processing infrastructure, today announced a relationship with SouthState Corporation (NYSE:SSB), ranked among the top 30 largest banks in the United States, to allow Moov's customers to benefit from near-instant online payments via funds-in/funds-out capabilities to eligible debit cards through Moov's direct processor integrations to the major card networks Visa and Mastercard.
Through this relationship, customers can now transfer funds almost instantly from their bank accounts to their Moov Wallet using their linked debit card and card network debit rails. Similarly, users can quickly move money from their Moov Wallet back to their bank accounts by leveraging their linked debit cards, providing a seamless and near-instant transfer experience in both directions.
These capabilities will be supported by Moov's direct integration to Visa Direct and Mastercard Send, transforming traditional multi-day transfer processes into seamless, near-real-time transactions.
"When account-to-account transfers typically take three to five days, offering real-time transfer options for consumers and small businesses is a game-changer," said Wade Arnold, CEO of Moov. "Real-time money movement demands real-time oversight and reconciliation, and the collaboration between Moov, SouthState Bank, and Google Cloud can position entities to be prepared for emerging standards while allowing for integrated oversight and governance."
The Moov and SouthState Bank relationship will also improve payment data management by using Google Cloud's data and analytics capabilities through the introduction of Moov's Data Sync technology. This new solution enables real-time data streaming, replacing traditional daily batch file processes to enhance efficiency and risk management. By utilizing BigQuery, Google Cloud's unified data platform, and Looker, Google Cloud's complete AI for BI platform for data analytics and reporting capabilities, both organizations can access a consistent and secure shared dataset. The integration with Analytics Hub, Google Cloud's data exchange platform, enhances customer data privacy by advancing data-sharing practices via BigQuery encrypted connections.
"We are proud of our relationship with Moov to bring near-instant payment access to more and more businesses," said Kurt Shreiner, Executive Vice President and President of SouthState's Corporate Financial Services. "Combining Moov's innovative technology with SouthState's payments capabilities delivers an unmatched solution for modern payments."