Payrailz, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, announced that is has been selected by Purdue Federal Credit Union ($1B in assets) for payments services. Additionally, Purdue Federal is joining Payrailz’ credit union service organization (CUSO), CU Railz®, as an investor.
Read More: GlobalFintechSeries Interview with Gerard Griffin, CEO at AnyDay
.@PurdueFed selects @payrailz to support #payment strategy
Based in West Lafayette, Ind., Purdue Federal sought to provide their members, many of whom are students, alumni, faculty or staff of Purdue University, with the most innovative digital banking tools. Of these tools, the credit union wanted to ensure their members had access to payments services without the need to rely on other payment apps.
Read More: GlobalFintechSeries Interview with Jill Homan, President at DeepTarget
By joining CU Railz, Purdue Federal is investing in Payrailz’ vision and will help to shape the future of the payments experience. CU Railz was founded to enable credit unions to take control of their future by partnering with Payrailz to develop new, innovative technologies and services that will revolutionize the payments experience. As strategic partners, members of CU Railz will influence the development of new payment technologies and experiences, which is particularly important as they compete in the highly competitive banking environment. The credit union will participate in the CUSO’s board of directors to provide input into creating smart, engaging payments experiences.
“At Purdue Federal, we live out the credit union philosophy of ‘people helping people’ and in order to help our members, providing innovative payments capabilities is vital,” said Bob Falk, Purdue Federal President and CEO. “Purdue Federal and Payrailz have a shared vision to provide credit union members with payments solutions that meet their current and future needs to help set them up for financial success.”
Read More: SafeButler and Liberty Mutual Partner to Offer Instant Renters Insurance
