Extending
the services offered under the Remittance Processing Method, the
Bill Payment Front End Method offers credit unions a electronic bill payment system that allows members to submit
payments via the internet. This method is designed for credit unions
currently offering a home banking system without bill payment capabilities,
or those seeking a stand-alone electronic bill payment interface.
The Corporate's role is to work behind the scenes handling back-end
processing of payments requested.
MY CU® Services' "Front End" can
be branded to suit your credit union. This allows MY CU® Services
to process requested payments 'behind the scenes", so that
the bill payment system you offer to your members is uniquely yours.
In addition the system is front end independent. This means it can
easily be integrated with Single Sign On products offered by any home banking provider,
or it can function as a stand-alone product.
Processing and Settlement
Your members use the system by signing on and
scheduling payments online. MY CU® Services
will generate a file of bills the next morning to be paid in an
ACH format and will either transmit the file to your credit union
or make it available for you to download. Once you have verified
the funds, payments are sent to the merchants, and your credit union's
designated settlement account is debited. This settlement account
can be held at the financial institution of your choice.
The Difference
While service is key to our success, our uniqueness
lies in the fact that we are a credit union system solution for
EBP. As a Corporate Credit Union CUSO, we are a member owned institution
dedicated to providing the services credit unions need at a price
they can afford.
If your credit union is interested in more information on MY CU® Services Bill Payment program, please Click Here to view our product demos or contact Jaime Agostino at
888-985-7280 extension 3906, or by email at jagostino@mycuservices.com.
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