CO-OP to provide RealPay gateway to Zelle Network
24 October 2016 | 2652 views | 0
Source: Co-Op Financial Services
CO-OP Financial Services today announced a strategic partnership with Early Warning to offer credit unions access to the Zelle Network.
Early Warning’s Zelle Network, a financial institution-led digital payments network in the U.S., will enable members of participating credit unions to send money to anyone with a U.S. bank or credit union account.
The CO-OP partnership with Early Warning will enable participating credit unions to implement Zelle capabilities in late 2017.
RealPay by CO-OP already offers credit unions the ability to make person-to-person (P2P) payments from one bank account to another. By offering access to Zelle, credit union members will gain the ability to send and receive faster P2P payments from the convenience of their mobile phones or online banking platform. Credit union members will also gain the ability to make payments using only the recipient’s email address or mobile number, which limits the sharing of sensitive bank account details like routing numbers.
“CO-OP is committed to offering the latest mobile and online payment services to its credit unions and making transactions as convenient and secure as possible for their members,” said Todd Clark, President/CEO, CO-OP Financial Services. “Partnering with Early Warning greatly expands the ability of credit union members to make faster P2P payments, an innovation that will help credit unions grow through enhanced member interaction and loyalty with their institution.”
RealPay by CO-OP is available to credit union members in three products to meet specific credit union needs: 1) Integrated within a credit union’s own mobile banking app or online banking channel as an application programming interface (API); 2) As a function of Sprig by CO-OP, the company’s turnkey mobile app; and 3) As a function within the brandable and configurable CO-OP Mobile app.
“Credit unions are essential to bringing faster payments on the Zelle Network to all U.S. consumers nationwide,” said Paul Finch, Chief Executive Officer, Early Warning. “As a technology leader in the credit union movement, we are pleased to partner with CO-OP Financial Services and look forward to working with them to deliver faster payments to credit union members nationwide.”