Redstone Federal CU, Fiserv extend partnership for P2P payments and A2A transfers

Monday 25 May 2020 09:19 CET | News

Redstone Federal Credit Union has extended its partnership with Fiserv to offer person-to-person (P2P) payments and account-to-account (A2A) transfers.

The move came as these services are gaining increased traction due to rise in demand for digital payment functionalities. Through this partnership extension, the CU will be able to send money to other people and transfer money between their own accounts.

As the US-based credit union saw a growing interest among members in P2P and real-time payments, it assessed how to offer these functionalities to members, and thus reviewed its options, and selected turnkey service for Zelle from Fiserv along with TransferNow from Fiserv for A2A transfers.

Turnkey Service for Zelle from Early Warning will enable P2P payments for Redstone members. It assists with the onboarding process for financial institutions, to reduce costs and accelerate time-to-market for Zelle, according to IBS Intelligence. Customers can send and receive money with Zelle for free using a US mobile phone number or email address. It allows funds to be transferred directly from one bank account to another.

Zelle and TransferNow will be introduced to Redstone members in summer 2020, integrating with the credit union’s existing core platform, DNA from Fiserv.

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Keywords: Redstone Federal, CU, Fiserv, US, partnership, P2P payments, A2A transfers, payments , real time payments, money transfers
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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