GREENSBORO, N.C.– Vizo Financial said it and its payments CUSO, MY CU Services, have begun onboarding credit unions on the Federal Reserve’s FedNow Service.
Riverfront Federal Credit Union in Wyomissing, Penn., was the first credit union to sign on to the instant payments solution.
“We’re excited to help Riverfront FCU implement the FedNow Service at their credit union,” Rodney May, Vizo Financial’s SVP/chief engagement officer. “We know that this instant payments solution will be extremely beneficial for both the credit union and its members.”
The FedNow Service, the Federal Reserve’s new instant payment offering, officially launched in July 2023 and credit unions to offer 24/7/365 instant payments, allowing their members to send and receive money immediately.
‘Core of Everything We Do’
Vizo Financial said it is certified to offer settlement for the FedNow Service instant payments, as well as provide instant payments receiving capabilities for credit unions. Both services are available through the corporate’s online platform.
“Our members are at the core of everything we do, which is why we’re already implementing the necessary components needed to offer credit unions send capabilities with the FedNow Service, as well,” said May. “We’re hoping to be able to offer these capabilities to our members later this year.”
For info: FedNow® Service page
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