Sionic
“Can a real-time pay-by-bank infrastructure provider displace card networks at the U.S. point of sale by acting as a TPSP delegate across RTP, FedNow, and Fiserv NOW Network rails?”
Founded in 2010 as Sionic Mobile Corporation, the company initially operated as a mobile commerce and customer loyalty/rewards platform. It pivoted to become a real-time bank-to-bank payment infrastructure provider, building its Instant Bank Pay and Verified Rapid Payments (VRP) platform on top of The Clearing House RTP network, the FedNow service, and Fiserv's NOW Network. Sionic's current strategy is to position itself as a Third-Party Service Provider (TPSP) delegate for financial institutions participating in real-time payment rails, enabling merchants to accept account-to-account payments and bypass card interchange fees while offering a proprietary AI-based fraud detection layer.