Mastercard has integrated its push payments platform, Mastercard Send, with AptPay's digital payments hub solution to provide real-time funds distribution. With this integration, businesses can send digital payments through bank accounts, digital wallets or prepaid cards, according to a press release.

Businesses can approve, reject or reverse payments in real-time with this service, and in turn they can also cut back on cheques.

"Over the last few years, digital transformation and faster payments have been top priorities for many industries. COVID-19 has created the perfect storm, highlighting the problems caused by not having these priorities in place. AptPay's Digital Payment Hub enables companies to execute on these priorities and weather the storm," Suganthan Vishnu Krisnarajah, CEO of AptPay, said in the release. "Using our APIs, companies can easily implement Mastercard Send to process payouts where the end-to-end process is much faster than legacy payment types. Customers can also rely on AptPay's compliance services to ensure transactions are safe and secure, and meet the compliance needs for their industry."