Nation’s largest online small business lender will use Ingo Money to disburse loan funds to customer’s small business debit cards in real time

NEW YORKOct. 23, 2017 — OnDeck (NYSE: ONDK), the nation’s largest online lender to small business, announced today agreements with Ingo Money and Visa to enable real-timefunding of loans to small businesses via their debit cards, powered by Visa Direct. OnDeck will be the first company in the online lending industry to offer real-time access to capital via a customer’s existing small business debit card.

 The move by OnDeck comes in response to small business demand for improved cash flow and faster payment experiences. A recent survey found 70% of small business owners report they have a small business debit card, and of those without debit cards, 87% of them said they would get a new debit card to take advantage of real time transfers.2OnDeck plans to use Visa Direct through Ingo Money’s technology platform to disburse loan proceeds securely in real time to its line of credit customers via their existing small business debit cards. Visa Direct is Visa’s real-time push payments platform allowing companies to leverage Visa’s global scale to develop faster payments solutions for ubiquitous reach to consumers or small businesses with a debit card.

“Over the last decade, OnDeck has grown to be the largest online lender to small businesses by relentlessly innovating and unleashing new technologies that benefit small business owners,” said Noah Breslow, CEO of OnDeck. “By partnering with Ingo Money and Visa to deliver real-time capital to our customers, we will empower small businesses in the next decade to achieve their goals with the fastest and most flexible credit solutions in the market.”

“Small business owners increasingly expect their money to operate at Web speed,” said Ingo Money CEO Drew Edwards. “OnDeck is pioneering real-time money loan disbursements for small business customers, delivering an enhanced lending experience for borrowers while saving time and money over traditional check and ACH disbursements.”

“Thanks to big data and new technology, online lenders like OnDeck can underwrite a small business customer in minutes, however, it still may take days to actually get the money into the customer’s bank account,” said Cecilia Frew, Head of Visa Direct, North America. “By adding push-to-card capabilities, the funds now reach the customer’s account in minutes, and even on weekends and holidays. Leveraging the Visa Direct platform, Ingo and OnDeck can now quickly bring innovative solutions that solve a meaningful pain point for small businesses – faster access to cash flow and liquidity.”

Ingo PushTM, the turnkey push payments service from Ingo Money, allows OnDeck customers to receive funds via a vast network of eligible debit or prepaid card accounts, including eligible Visa cards; online and mobile wallets; and a network of more than 40,000 cash-out distribution points.

Ingo Money’s “push payments in a box” solution provides the ability to send funds instantly to millions of cards with speed and reliability, built-in PCI-compliant payment interfaces, and bank sponsorship and security checks through one simple API integration. As part of the agreement with OnDeck, the Ingo Money platform will manage regulatory, network routing, risk management and reconciliation needs for the company.

OnDeck plans to offer the Instant Funding service to its Line of Credit customers beginning in early 2018.

About OnDeck
OnDeck (NYSE:  ONDK) is the leader in online small business lending. Since 2007, the Company has powered Main Street’s growth through advanced lending technology and a constant dedication to customer service. OnDeck’s proprietary credit scoring system – the OnDeck Score® – leverages advanced analytics, enabling OnDeck to make real-time lending decisions and deliver capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the online lending industry’s widest range of term loans and lines of credit. To date, the Company has deployed over $7 billion to more than 70,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau.  For more information, please visit

About Ingo Money
Ingo Money is the instant money company.  Founded in 2001 with a mission to digitize the paper check, our push payments technology enables businesses and banks to disburse instant, safe-to-spend funds to more than four billion consumer debit, prepaid, credit, private label credit and mobile wallet accounts. This transformation of traditional payments helps businesses reduce cost and delays while dramatically improving the consumer experience. Headquartered in Atlanta, you can learn more at, or  Follow us on LinkedInGoogle+ and Twitter.

About Visa Inc.
Visa Inc. (NYSE:  V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit and @VisaNews.


Actual fund availability varies by financial institution. Visa requires U.S. issuers to make funds available to its cardholders within a maximum of 30 minutes of approving the transaction.


Source: Visa Inc. US Small Business Debit Card Survey, September 2017


Jim Larkin

Michael Azzano
Cosmo PR for Ingo Money

Sarah Hamblen
Visa Inc.

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