Space Coast Credit Union rolls out Princeton eCom online payment processing system

Source: Princeton eCom

Princeton eCom, the leading single source provider of integrated electronic payment and bill presentment solutions for banks and billers, today announced it has been chosen by Space Coast Credit Union of Melbourne, Florida (SCCU) to provide its PayAnyone solution to process payments for the credit union's online banking service.

"Space Coast Credit Union's commitment to offering our members convenience and flexibility is reflected in the service we provide through our online banking," said Timothy M. Antonition, Executive Vice President, Retail Operations, SCCU. "Princeton eCom enables us to expand bill payment options for our members while improving operational efficiencies and costs."

PayAnyone(TM) will enable SCCU to improve operational costs by benefiting from transaction-based pricing as well as significantly reduced claims and higher electronic remittance rates. The costs of handling claims will be reduced through Princeton eCom's Real-Time Digital Scanline (RTDS) that validates billing information as the payor enters the data -- significantly reducing the risk of payments being rejected or delayed at a later time. Through the use of RTDS, Princeton eCom clients have achieved an unprecedented industry claims rate of two per 10,000 transactions. In addition, Princeton eCom's Consumer Draft Model allows bill payments via check to be drawn directly from the member's account allowing members additional control of the timing of payments while gaining the efficiency of making all bill payments online.

"Establishing and building an online presence with customers is critical to remaining competitive as is maintaining customer adoption and loyalty," said Ron Averett, President and CEO of Princeton eCom. "Princeton eCom's suite of solutions are proven in their effectiveness to drive e rates and improve customer satisfaction while enabling greater savings in the cost of operations."

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