Expedited payment is an added feature that enables next day payment for a consumer's most urgent bills such as mortgage payments, insurance premiums or credit cards that carry significant late penalties.

The expedited payment service is priced significantly lower than late payment fees or next-day air package delivery services, which are often the only option for ensuring that an urgent payment will arrive on time. Financial institutions offering expedited payments benefit by expanding their online services with a valuable convenience option while gaining a new source of fee income.

"Our members value services like expedited payments that save them time, money and give them peace of mind," said Fred Kent, chief executive officer of First Credit Union of Arizona. "While we don't anticipate our members paying every bill with expedited payments, it can make all the difference for those situations that are truly urgent. The iPay solution works seamlessly with our online credit union software and the transaction is very easy to conduct through our Internet portal."

"The expedited payment service was designed to solve problems and save money for consumers," said Steve Hooper, chief payments officer of iPay Technologies. "Everyone has to rush to pay a bill sometimes. It's stressful, inconvenient and expensive to run out to an overnight service to ensure your payment gets delivered the next day. Financial institutions offering expedited payments may become heroes to their clients by offering a valuable online service at the most critical time - right when they need it. The increased customer satisfaction from expedited payments will help ensure customer loyalty to the financial institution and their online banking products."