Sila

Sila is a payment gateway that streamlines financial transactions by providing a unified API for various payment functions. It supports ACH payments, including standard and same-day transfers, as well as ACHNow, a proprietary solution for near real-time funds availability.

Key features of Sila include the ability to create and manage digital wallets backed by insured banks, allowing users to store, send, and receive funds internally or link them to external accounts. Additionally, Sila enables businesses to assign virtual accounts with unique routing and account numbers, facilitating payment reconciliation and multi-user environments.

Sila also integrates identity verification processes, including Know Your Customer (KYC) and Know Your Business (KYB), to streamline customer onboarding and ensure regulatory compliance. Users can link their bank accounts securely through leading aggregators like Plaid and MX.

The platform includes a fraud scoring engine to assess transaction risk and prevent chargebacks. Developers can utilize a fully functional sandbox environment to simulate ACH transfers, identity verification, and other critical flows during development.

Overall, Sila offers a comprehensive suite of payment tools designed to simplify financial management and enhance transaction efficiency.

This description was generated by AI (artificial intelligence). AI can make mistakes. Check important info.

Website: silamoney.com

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