Instant Funding with Astra
Time is Money (Literally!)
Time to money is one of the most vital metrics in fintech. How quickly can I get a user through the onboarding process and onto spending money through their new card? Traditionally onboarding experiences can take up to 4 business days from receipt of a new card to being able to use that card for spend and those 4 days are important. Enter Instant Funding!
Astra’s Instant Funding Solution
Instant Funding is our latest solution that enables your users to transfer funds between any two debit cards, instantly! It’s a 24/7/365 service that isn’t tied to ACH windows, weekends, or federal holidays. Users enjoy the satisfaction of funding their card instantly (available for use immediately), while your business reaps the benefits of increased inbound deposits. Support a larger user base with a wider range of supported financial institutions.
How does it work?
Users link external debit cards (any Visa or Mastercard debit card) through our PCI-compliant SDK form, while client-issued debit cards are securely registered through our backend. Through our Routines endpoint, users will select an externally linked debit card and specify the amount they wish to transfer to their client-issued debit card. Like magic, the funds instantly land and are available to use right then and there.
Ease of integration
New to the Astra Platform? No problem! We have extensive documentation and sandbox environments which means that you can try all of the functionality of Astra without even signing a contract – often in as little as a few weeks. When you decide to go live, you will have a dedicated comms channel in Slack and an integrations partner to help make sure your application is ready for prime time.
Already an Astra customer? You are just a few steps away from being able to leverage Instant Funding for your customer accounts. By adding a simple card entry screen to your onboarding flow you can now capture card details and use them to spin up instant funding transactions into your customer’s new card. Our Instant Funding solution leverages the same SDK and API as your Accelerated ACH solution, with the addition of a couple of new endpoints.
For more information, check out our Accelerated ACH solution. Want to create a best-in-class onboarding experience for your users? Get in touch!