One month after launching its InstantPay solution, Checkbook.io is back in the fintech headlines with news of its partnership with event production booking platform Castifi. The hub for event and media production managers is leveraging technology from Checkbook to make it easier to ensure that short term workers get paid as quickly as possible.
“Many of the cast and crew members that we work with can’t wait 2-3 weeks to get paid, which is the industry norm,” Castifi founder and CEO Rum Sheikhani said. “Our users regularly tell us about the difficulties of managing everyday expenses and (the) uncertainty around when they will get paid.” Sheikhani noted that the partnership with Checkbook has helped workers get paid in two business days or less, which she called “a game changer for our core business.”
Checkbook offers a secure payments alternative for companies that avoids the inefficiency – in time and cost – of paper checks. The company’s Digital Checks enable recipients to get payments online without requiring them to create an account or enroll in a specific digital wallet. With Checkbook, as soon as the recipient authenticates their bank account, they will see that the money is being sent to them. Recipients can deposit the funds online, print their digital check and make a remote deposit capture with their mobile device, or get their funds transferred instantly on their debit card.
Culver City, California-based Castifi was founded in 2015. The company has raised $600,000 in seed funding, and helped event managers in more than 250 productions find, hire, manage, and pay their cast and crew. Most recently, Castifi was involved in the digital series, Grown, produced by Adaptive Studios.
Founded in 2015 and headquartered in Sunnyvale, California, Checkbook demonstrated its digital check technology at FinovateSpring 2017. The company celebrated surpassing the two million user mark last fall. Check out our profile of the company from last December, in which Checkbook CEO P.J. Gupta explained how accounting firms are taking advantage of digital check technology.