WETHERSFIELD, Conn.--Payveris, next generation online and mobile digital payments company, and credit union-owned cooperative CU*Answers have announced a working partnership to provide a fully integrated online banking and payments experience to their client credit unions and their members.
Payveris offers a full range of bill payment, money movement and interbank transfer solutions which innovatively brings together financial institutions, consumers and businesses within the digital payments process.
According to the companies, the partnership will leverage Payveris' modular, API driven digital payments platform and CU*Answers' seamless solution approach to further strengthen CU*Answers' member-focused banking solutions and to further provide their member credit unions with a cost effective and competitive edge in the marketplace.
In addition, CU*Answers has made a financial investment into privately held Payveris and the company's efforts to innovate the payments space while keeping credit unions at the center of commerce.
"Some people might think our commitment to this investment and partnership is simply a bill pay vendor adjustment, but that would be a mistake," commented CU*Answers CEO Randy Karnes. "CU*Answers wants to position its networks and owner-client credit unions right in the middle of the payment system revolution, and that takes creative partners and creative solutions. This announcement signals our full commitment to that, and links our network to a new creative-force-to-be in the future of member directed payments. We look forward to the value we will deliver to our clients and I could not be more excited than to add the Payveris team to the effort."
Payveris' cloud-based digital payments platform capitalizes on the value of a single platform that offers a seamless digital payment and money movement experience whether it's paying a bill, transferring between financial accounts or paying a friend or merchant.
Throughout the past year, both the CU*Answers and Payveris development teams have been collaborating and working side by side to deliver native bill pay functionality within CU*Answers' "It's Me 247" Online and Mobile Banking offerings.
“The overall goal has been to offer a more cost effective yet powerful payments solution that will be quicker, more convenient, and blended throughout the member user interface to make it more accessible to every type of member. CU*Answers will be introducing this offering to their client credit unions over the coming year,” the companies said.