Zūm Rails and its direct integration to its partners allow funds to move quickly and with visibility over the status of each transaction. That means there is no waiting 2-3 days just to find out whether a transaction is successful.
Funds are moved between 3 stakeholders:
- Funding Source: This is your business bank account. To be able to start moving funds you will need to link your bank account information using Zūm Portal.
- Zūm Wallet: This is a virtual account you can use to manage funds. If you need to move funds directly from a Funding Source to a User, or the opposite, the funds will pass through Zūm Wallet automatically.
- User: This represents the payee for accounts payable, or the payer for accounts receivable. More details can be found under the Users section.