GREENSBORO, N.C.–Vizo Financial Corporate FCU is reporting that through its service provider, Aptys Solutions, it has become among the first to complete testing and certification for the FedNow Service, the Federal Reserve’s new instant payment offering that is set to launch next month.
As the corporate noted, the service is aimed at enabling credit unions to offer 24/7/365 instant payments, allowing members to send and receive money immediately.
Vizo Financial said it has completed the certification requirements and testing for the settlement side of the instant payment transactions and will be ready on day one of the FedNow Service.
To achieve certification, Vizo Financial said that it and Aptys Solutions have met the requirements of the FedNow Service testing program and attested that they are prepared to meet the requirements to successfully operate in a 24/7/365 instant payments environment.
‘Cutting Edge’
“Vizo Financial is proud to be one of the first in our industry to become certified for the FedNow Service settlement capability for send and receive capabilities,” said Jeff Stoner, SVP/chief technology and strategy officer. “The payments landscape is ever evolving, so we find it imperative to stay on the cutting-edge of payment services. We are excited to be able to help our member credit unions implement instant payments at their institutions. Vizo Financial and our payments CUSO, MY CU Services, are prepared and ready to help our member credit unions usher in this new instant payment service.”
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