Checkbook ensures payment efficiency and security while helping SMEs reduce manual errors, save time, boost operation scalability, and improve cash flow management.
SAN ANTONIO, Jan. 21, 2025 /PRNewswire/ — Frost & Sullivan researched the business-to-business (B2B) digital payment industry and based on its analysis, recognizes Checkbook with the 2025 United States Transformational Innovation Leadership Award. The company leads the B2B digital payment transformation by delivering a solution that challenges traditional payment methods. Its platform offers businesses a more efficient and reliable way to manage payments without the payee’s prior enrollment. This one-sided payment system revolutionizes the process by eliminating the need for recipients to provide any details upfront. By enabling payments through email or phone numbers, Checkbook reduces onboarding friction for recipients, accelerating the payment process. The platform also integrates real-time payments into everyday business operations, offering companies efficient and reliable payment solutions. This focus on simplifying the payee experience fills a long-standing gap in the B2B payment space where pre-enrollment is typically required. Furthermore, removing payee enrollment requirements saves significant operational costs, reducing the typical expenses from hundreds of dollars to pennies per payment.
Checkbook’s platform allows operation across multiple domestic and cross-border payment rails, including digital checks, Automated Clearing House (ACH), Zelle(r), and push to card based real-time payments. With Checkbook, businesses can access a full payment suite without relying on various vendors for different payment types, providing a more efficient and unified system. This cost-effective and streamlined approach balances speed, quality, and security, solidifying the company’s position as a market disruptor.
Checkbook’s platform offers a tailored solution, allowing businesses to send out bulk payments seamlessly through a comma-separated values(.csv) file upload or API integration. This functionality and the flexibility of various disbursement methods enable businesses to manage payout processes efficiently. The company also enhances the recipient’s experience by giving them control over how they receive their funds, whether by digital check, ACH transfer, or other methods, ensuring a smoother process and improving overall satisfaction.
Ain Sarah Aishah, best practices research analyst at Frost & Sullivan, observed, “Checkbook addresses key industry pain points. Its platform reduces onboarding friction and enables real-time payments, enhancing operational efficiency and agility.”
Checkbook platform’s open API also allows businesses to integrate Checkbook into their existing systems, facilitating automation and payment tracking. This capability is especially significant for industries that rely heavily on freelance workforces, where efficient payment processing directly impacts operational effectiveness. By automating these processes, SMEs can reduce manual errors, save time, improve cash flow management, and significantly boost operations scalability. Checkbook strengthens its digital payment process by implementing rigorous security measures that build trust between businesses and payees. It offers flexibility by allowing users to input their details, giving them control with additional verification at the recipient’s end. Visa Direct enables the company to enhance the speed, efficiency, and security of its payment processes. It facilitates the delivery of funds to over three billion eligible cards and bank accounts globally, playing a crucial role in securing real-time transactions for Checkbook’s clients. Leveraging Visa’s global network, Checkbook provides seamless and secure client payment experiences, meeting industry expectations for payment speed and accessibility. Its strategic partnerships, commitment to compliance, and comprehensive security framework give the company a competitive edge in delivering a holistic payment solution. By continuously enhancing its offerings and expanding into new markets, the company remains a leader in driving the future of digital payments.
“Checkbook’s innovative solution ensures seamless and secure payment processes, positioning it as a frontrunner in the B2B digital payments space. Its platform’s one-sided payment system, streamlined bulk payment solutions, and stringent security measures set it apart in the competitive market. Checkbook’s high customer satisfaction rates are a reflection of its dedication to delivering reliable, efficient, and user-friendly payment solutions,” added Dewi Rengganis, senior industry analyst at Frost & Sullivan. As Checkbook expands its reach and continues to innovate, it is well-poised to meet the future demands of a global digital economy. For its strong overall performance, Checkbook earns Frost & Sullivan’s 2025 United States Transformational Innovation Leadership Award in the B2B digital payment industry.
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
“We’re delighted to receive Frost and Sullivan’s 2025 Transformational Innovation Leadership Award. We’ve been working for years building an innovative and highly efficient digital payments system for businesses and it is truly refreshing to get this seal of approval from a company that is highly respected. We look forward to building and launching many more products in the future.” PJ Gupta, CEO, Checkbook.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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Contact:
Ashley Shreve
E: ashley.shreve@frost.com
About Checkbook:
Checkbook enables businesses to send payments at scale. With Checkbook’s modern payments platform, customers can send payments with just an email address or phone number. Recipients do not need to create an account, log in, download an app or share sensitive bank account information. This saves time and money over traditional payment methods while providing a better experience for end users and our customers, helping them to make the pivotal transition from physical to digital payments. Today, Checkbook is powering the payments engine of many of the world’s largest financial services companies.
For more information, contact us to start the discussion on your payment needs
Contact:
Jana Raghavan
P: 6177924557
E: jraghavan@checkbook.io
SOURCE Frost & Sullivan
