How they describe themselves: Knox Payments is a payments and security service that allows merchants to conduct ACH payments. These are transactions wherein customers can pay directly to merchants using their bank accounts. What differentiates the service from its competitors is its primary focus on speed. In addition, Knox Payments does not offer user accounts, and simply functions as a tool for fast online checkouts.
How they describe their product/innovation: Knox Assured: Designed to give a credit card-like instant authorization of transactions.
Knox Verified: Basic ACH transaction with built in account verification.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms