P2P Payments
Ultimate payment flexibility, ultimately secure – it’s P2P reimagined.
Catalyst’s digital payment platform reimagines Peer-to-Peer (P2P) payments for a modern age, breaking down payment silos and creating an open platform for payments to go wherever they are needed, quickly, securely and cost effectively. The solution works across a host of payment rails to deliver funds across leading digital wallets, payment apps, digital accounts and traditional checking and savings accounts.
Since their inception, P2P payment platforms have been walled gardens, forcing users to hold accounts on the same platforms to enable transactions. This receiver-centric model caused needless confusion and the “which service do you use?” dance consumers have grown to hate.
Catalyst’s payment solution is different, allowing senders to take control and move money directly from their credit union to any other consumers or business with a phone number or email address. Payment recipients choose how and where to receive funds, from directly into their own checking account to a host of leading digital wallets and P2P payment services. No longer do senders and receivers need to hold accounts on the same platforms or strand funds on those platforms.
For your members, using any payment service must be easy, fast and secure. Catalyst designed its digital payment platform to work from directly inside your own mobile banking or online banking application – no new apps to download, no special card to carry, no hoops to jump through.
But sending money easily only works if that money is secure. That’s why Catalyst built its digital payment platform on a smart, AI-driven fraud engine that gives your credit union total flexibility in crafting a security stance that matches the needs of your institution and your members, with an online portal available for 24/7 fraud management, rules validation and member service.
When your members benefit so does your credit union. And members are demanding integrated P2P payment options from their banking providers, with trillions of dollars now flowing through P2P platforms around the globe.
It’s imperative that your institution not be left behind. With Catalyst by your side, we can help you leap ahead by providing members with a robust, flexible P2P payment platform that shifts paradigms.
- Retain current and attract new members who demand up-to-the-minute payment technology
- Extend payment services beyond P2P
- Virtually eliminate fraud and losses, protecting your members and your balance sheet
- Reduce costs compared to other payment options on the market
Catalyst’s digital payment platform is built with flexibility as a core tenet. While excelling at P2P payments from consumers to consumers and from consumers to businesses, the platform can power a range of payment types including business-to-business payments, business-to-consumer payments, remittances, e-commerce payments, bill payments and more.