Payments

Innovative Digital Payments Solutions

In our mobile and online world, digital payments have been and continue to be rapidly adopted. Member demand is increasing for these touchless payment offerings.

To stay ahead of the curve and keep your credit union top-of-mind and top of the digital wallet, use these digital payments tools.

 

Digital Wallets  

Digital wallets virtually store cardholder payment information and allow users to securely complete transactions using their smartphones, smartwatches, or other devices. If shopping online, digital wallets can eliminate the need for the user to input card information for each transaction.

Major, well-known digital wallets include Apple Pay, Amazon Pay, Samsung Pay, and Google Pay, but additional options continue to enter the market. Many retailers also act as a digital wallet, retaining card information in-app.

Being top-of-wallet means being first-in-app when describing digital wallets.

Key benefits to digital wallets include:

  • Touchless Capability: With no need to dip or swipe a card, the need to touch a POS terminal is limited
  • Top of Wallet/First App: Default card set becomes the primary form of payment
  • Convenience: No need to carry a physical card
  • Flexibility: Ability to complete in-app and online transactions
  • Speed: Quicker transaction time
  • Security: Cashiers no longer see names or card numbers because tokenization encrypts payment information

Our team can assist your credit union with the push provisioning capability required to securely push the card account information to the mobile wallet of choice.

Digital Issuance

Digital Issuance allows for an electronic version of a preactivated debit or credit card to be delivered to cardholders while they await delivery of a physical card. This allows members to immediately use the card in digital wallets and for online shopping. Offered through our partnership with Fiserv, Digital Issuance cards are delivered seamlessly through integration with CardHub®.

“Real-time payments are becoming the standard for both personal and business payments. Credit unions must consider providing these services to compete with offerings by both FinTechs and Big Techs. Faster payments, like RTP, will serve as a platform for credit unions to create new and innovative products and services.”

Rebekah Higgins
Synergent Chief Growth Officer

 

Faster Payments

Real-time payments are becoming the standard for both personal and business members alike. Faster Payments is a flexible solution that is positioned for growth and will serve as a platform for credit unions to create new and innovative products and services in the future.

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PayCenter Helps Credit Unions Remain Competitive and Agile

Synergent has partnered with Jack Henry & Associates to provide JHA PayCenter, a payments hub that enables access to real-time payments. Member-facing solutions currently include Zelle and RTP Receive, and Fed Now.

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Additional Services You Might Be Interested In

Offer Immediate Payments with the RTP Network

The RTP Network, which falls under the JHA PayCenter umbrella, enables credit unions to offer immediate payment services for all types of transactions.

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Make Fast Day-to-Day Payments with FedNow®

FedNow® was created by the Federal Reserve to help individuals and businesses make fast, convenient day-to-day payments.

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Provide Members with P2P Payment Options with Zelle

Zelle is an easy-to-use person-to-person (P2P) payments solution. It has full integration with mobile and online banking solutions, as well as with the Jack Henry™ Symitar® core.

 

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