The solution can lead to more timely payments, reduced administration, and a better customer experience for companies.

"The ability to do the direct deposits, the ability to do the auto debits ... it causes people to keep the business at the bank," says Bill Schretter, a certified financial planner at Allworth ...

This new feature will allow Pix’s 150 million users to set up automatic debits for recurring payments like streaming services and utility bills. According to EBANX, a regional fintech firm ...