Extending
the services offered under the Remittance Processing Method, the
Bill Payment Front End Method offers credit unions a generically
branded 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. Visit www.mycubpdemo.com
for an interactive tour of the Bill Payment Front End.
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 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 at least one day in advance. 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.
Quality Control
A step above the status quo. MY CU® Services'
EBP high quality standards are what you would expect from a corporate
credit union.
MY CU® Services, LLC does not:
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