Credit Unions & Payrailz™ collaborate to create new CUSO, CU Payz
Date: 2019-08-10   Author: Paroma Bhattacharya  Category: #news

Credit Unions & Payrailz™ collaborate to create new CUSO, CU Payz

  • CU Payz offers its members the capability to become CU Payz owners.
  • members would also have a say in product direction and the ability to present innovative, new services of their members.

PayrailzTM, a renowned digital payments organization providing more engaging and smarter payment experiences to credit unions and banks, declared, at the end of Members Development Company FinTech Expo at Chicago, the roll out of CU Payz, a new CUSO.

CU Payz was created to allow credit unions to manage their respective futures by collaborating with Payrailz and developing innovative, new services and technologies that would transform payments experience.

The creation of the new CUSO was a result of the relationship between Constellation Digital Partners and established CUSOs MDC. CU Payz comprises of six primary credit unions, including TwinStar Credit Union, Meritrust Credit Union, and Coastal Credit Union among others.

Open to every CUSO and credit union, CU Payz offers its members the capability to be the CU Payz owners. Moreover, their suggestions would also be considered for product direction, ability to present innovative and new services to the members and set favorable pricing.

Member CU Payz credit unions would also impact the creation of novel experiences and payment technologies, which is especially significant as they contest in an immensely competitive environment.

The CEO of Constellation Digital Partners Ltd., Kris Kovacs stated that with increasing competition in the industry, credit unions are searching for more creative ways to tackle the increasing discrepancy among traditional tools developed for the world of financial services and the swiftly changing industry players. Kovacs further added that the new CUSO is committed to enable credit unions to adapt as well as compete better.

The CEO OF Payrailz, Fran Duggan stated that some current providers are restricting credit unions, and company strongly believes that it will provide them a solution that would allow them to contest with other technology competitors entering in the market.

Source Credit:

https://www.businesswire.com/news/home/20190808005073/en/Credit-Unions-Payrailz%E2%84%A2-Partner-Form-New-CUSO



About Author


Paroma Bhattacharya

Paroma Bhattacharya

Paroma currently works as a content developer for AlgosOnline. Fortified with a post-graduation degree in Journalism and Mass Communication, she delved head long into a writing career, creating resourceful and information enriched content in diverse fields. Apart from...

Read More

More from Paroma


Post Recommendents

Nomura Holdings to acquire U.S. M&A firm Greentech in US$92m deal
Author: Pankaj Singh

Nomura Holdings, a financial holding company in Japan, has recently announced that it will buy Greentech Capital Advisors, a mergers and acquisitions advisory company from the U.S. that specializes in renewable energy. This will be the company&rsq...


Perfect Day raises $140 Mn in a Series C funding round led by Temasek
Author: Saipriya Iyer

Perfect Day, a US-based food technology startup that has innovated new processes of creating dairy products by using casein, reportedly announced that it raised $140 million in a Series C funding round. This investment...


Current Health raises $11.5 million in Series A funding round
Author: Pankaj Singh

Current Health, a renowned New York based universal patient management platform, reportedly announced that it has closed a $11.5 million Series A funding round which was co-led by UK based MMC Ventures.