Scrapping Cash: Onbe and ScrapRight Provide 600 Scrap Yards with Instant, Modern Payouts
With states restricting the use of cash in recommerce transactions, Onbe’s solution enables scrap yards and recycling centers to pay sellers with compliant digital options.
CHICAGO & PHILADELPHIA–(BUSINESS WIRE)–Onbe, a leading corporate payouts platform, is partnering with recycling management software company ScrapRight to make payouts more secure and accessible for over 600 scrap yards and their thousands of sellers. Integrating ScrapRight’s platform with Onbe’s digital payout gateway helps scrap yards replace cash or check payments with modern and instant options that provide a more convenient, faster experience for sellers in their choice of payout.
While some scrap yards pay sellers with checks, Onbe and ScrapRight’s solution equips scrap yards to provide a more accessible experience for sellers that meet their payment preferences, as 92% of consumers prefer at least one digital or electronic payment method when receiving a payout, according to Onbe’s 2024 Payouts Landscape. Through instant issue, virtual and physical cards, sellers can receive funds instantly and have their choice of off-the-card options, such as adding funds to popular payment apps and mobile wallets for easy bill pay and spending.
“Onbe is proud to partner with ScrapRight to bring the convenience and choice-driven solutions provided by instant payouts to the recycling sector, helping them better serve their diverse sellers,” said Melissa Hentschel, Chief Client Officer of Onbe. “Today, the overwhelming majority of consumers prefer digital payment options, and our solution equips scrap yards to meet this demand by leveraging the industry-leading recycling management platform they rely on daily.”
Nearly half of the scrap yards using ScrapRight’s services are in states with new laws that restrict or prohibit cash payments for recommerce transactions. The partnership between Onbe and ScrapRight helps scrap yards respond to regulatory changes by replacing cash with fast and flexible payouts, creating a convenient experience for sellers regardless of their banking status.
“Transitioning from cash to other payment methods, such as instantly issued physical and virtual cards is not just the law in many states; it’s also more secure and cost-effective,” said Shon Duty, Founder and Chief Executive Officer of ScrapRight. “As the latest addition to our end-to-end platform, Onbe’s digital payouts gateway lets scrap yards eliminate the risk and expense of cash management, simplify their operations, and provide a better payout experience—a win for our customers and their sellers.”
Through the partnership between Onbe and ScrapRight, scrap yards can save time and resources by offloading the administrative burden of managing payouts while reducing the expense of processing payouts via checks. In addition, scrap yards can alleviate their escheatment concerns by leveraging the solutions offered by Onbe and ScrapRight. By streamlining the payout process, scrap yards can stand out with a seamless seller experience, a key component to helping scale efficiently and maximize profits in the coming years.
About ScrapRight
Proudly serving thousands of daily users totaling millions of monthly transactions, ScrapRight is the #1 TOP RATED, fully featured, best supported, most innovative, intuitive, and easiest-to-use recycling software in the scrap industry. We want EVERY scrap yard to be in 100% compliance with powerful tools to manage the buying, inventory tracking, & selling of materials. We offer turn-key and self-install solutions; serving large enterprise level organizations down to the smallest solo operation.
About Onbe
With more than 25 years of industry experience and offices in Chicago, Philadelphia and London, Onbe is a fintech that manages and modernizes customer and workforce disbursements for corporate clients ranging from mid-market to the Fortune 500. Onbe’s team of experts and technology platform offers clients a turnkey solution to offload their entire B2C payment operations, relieving them of the cost, complexity and risk that come with orchestrating these payments in-house. Backed by top-tier investors, Onbe delivers on today’s consumer expectations for instant, digital and seamless payments. To learn more, visit www.onbe.com and follow us on LinkedIn.
Contacts
Joseph Netto, Sr. Director of Communications
[email protected]
