A digital payments revolution, shaped by member demands and disruptive competitors, is changing the credit union payment model. Two firms want to educate the marketplace on reducing the disintermediation risk.
Wethersfield, Conn.-based Payveris, an online and mobile digital payments company providing integrated payment solutions to banks and credit unions, entered into a consulting agreement with Elk Grove Village, Il-based Transaction Directory, which supplies information about the transaction processing market. Under the agreement, the educational program will highlight the benefits of offering financial institution money-movement services such as P2P in order to better compete with nonfinancial institution payment offerings.
As part of the agreement, Transaction Directory will assist Payveris by creating educational materials and market awareness programs through Transaction Directory's inventory of payments-related content.
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