It’s time for real-time payments

In a world where technology is advancing at an exponential rate, why does making a payment still feel like the equivalent of snail mail? RealPay by CO-OP is speeding things up by offering real-time payments, a service most of us will look back on and wonder how we lived without. Paper checks & ACH will quite literally be given a run for their money!

Let’s dig in to what exactly RealPay is. RealPay is an account-based payments solution that offers real-time Person to Person (P2P) payment services for participating credit unions and their members. Members can send money to themselves or friends with accounts at any financial institution in the U.S. or its territories. With a simple and intuitive user interface, members are empowered to manage their payments on their own terms. Consumer-to-Business (C2B) payments is also in the works.

Consumers want fast payments, and they want them from the institutions they trust. Credit Unions are able to utilize 3 options based on their unique specifications and budget including stand alone, branded, and integrated solutions.

  1. Sprig by CO-OP is an online and mobile app ideal for credit unions that prefer a P2P solution that requires minimum time, involvement, and cost.
  2. CO-OP Mobile-Configurable mobile banking app has the RealPay option, but can also be branded by the credit union.
  3. RealPay API easily integrates with a credit unions’ existing app.
continue reading »