LAS VEGAS — Perfect for procrastinators, Silver State Schools Credit Union is already seeing quick uptake of its latest leading-edge offering, a banking-based expedited payments service from Online Resources Corp.
The service allows members to make guaranteed same-day payments in return for a service fee of $6.95, an amount chosen because it's less than a typical late fee on a credit card or other payment and still provides an opportunity for revenue for the $966 million institution.
"A lot of the reason we did this was not so much the money we could make," said Mike Randall, Silver State Schools' vice president of information technology and chief information officer. "It's the realization that the economy we're in finds people holding their money until the last second more and more, waiting until the due date or maybe even afterward to pay their bills."
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