Glastonbury-based digital payments company Payrailz has partnered with Michigan-based CU*Answers to resell Payrailz’s services to CU*Answers’ credit union clients.
CU*Answers works with more than 204 credit unions in 28 states and Washington, D.C., and will offer Payrailz’s peer-to-peer and loan payments services to these credit unions, Payrailz said in a statement. Payrailz added that the partnership will give these credit unions’ members a more modern digital payments experience.
The Payrailz platform allows for multiple P2P recipient options, including real-time capabilities such as member-to-member, debit card and the RTP network. The platform also uses artificial intelligence and machine learning to help consumers manage monthly bills, transfers and loan payments.
“We were very impressed with Payrailz’ vision for AI and the tangible ways they are improving the digital payments experience. Their ability to make payments predictive and proactive could be a game-changer for credit unions and their members,” Scott Collins, executive vice president of national sales and marketplace relationships at CU*Answers, said in the statement. “We also align with their commitment to operational excellence and are confident in Payrailz’ seasoned team to efficiently supply our credit unions with a more modern payments platform that helps them stand out in a competitive payments market.”
CU*Answers is a complete service provider for credit unions. Payrailz said in the statement that the focus on real-time payments and transfers supports CU*Answers’ “effort to keep up with the latest industry developments and members’ shifting expectations.”
“CU*Answers has an incredible network of forward-thinking credit unions. We are looking forward to working with them and proud to support them as they work to provide cutting-edge technology solutions for their members,” Fran Duggan, CEO of Payrailz, said in the statement. “Payments are a critical part of any banking relationship, and with so much competition in the payments space today, our solution helps CU*Answers credit unions to stand up to that competition and give their millions of members the best experience available.”