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Payveris Launches Loan Payments To Provide Financial Institutions With Integrated Real-Time Payment Methods And Channels

Banking CIO Outlook | Thursday, September 01, 2022

The Instant Payment Network®, the market's only complete ecosystem of real-time digital bill presentment, payment, and money movement capabilities, powers the new Payveris service.

Fremont, CA: Payveris, a Paymentus division, developed the MoveMoneySM Platform, an Open API, cloud-based platform that enables more than 265+ financial institutions to control, simplify, and expand more engaging intelligent digital payment and money movement possibilities to their users over any application or device while significantly reducing operating costs and future-proofing their IT investment.

Payveris launched Loan Payments®, a cutting-edge loan and debt payback solution with the broadest range of real-time payment methods and channels available on the market. Loan Payments® is intended to assist financial institutions in meeting expanding consumer demand for quick, simple, and secure payment methods and channels – all while lowering operational costs and promoting stronger customer engagement and loyalty.

According to a poll, 89 percent of customers desire additional real-time payment choices from their digital banking experience. Consumers demand additional payment options, speed, and convenience from their loan payment services, just as they do from other aspects of their financial life, and are dissatisfied with the status quo from financial institutions. According to a recent J.D. Power survey, non-bank loan servicers had a 17 percent boost in client satisfaction, while banks experienced a 4 percent raise. Financial institutions may use Loan Payments® to provide a full omnichannel experience that customers have grown to anticipate when shopping or paying bills. Loan Payments® accepts cash, debit card, and e-check/ACH as payment methods. Loan Payments® also gives customers the option of paying by internet, mobile, SMS, PayPal app, Amazon Alexa, Walmart, or in-person at their bank or credit union. Loan Payments® allows consumers of financial institutions greater choice over how they organize and schedule payments, in addition to added convenience and flexibility.

Loan Payments® got created by Payveris' parent business Paymentus, which was named the "Best in Class" market leader for Biller Direct EPPP solutions by Aite-Novarica.

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