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Purdue Federal selects Payrailz for payments services and joins CU Railz

By Pavithra R

September 22, 2020

  • Payrailz
  • Purdue Federal
  • USA
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Payrailz, a digital payments company offering advanced bill payment and money transfer solutions to banks and credit unions (CUs) across the United States has announced that it has been selected by Purdue Federal Credit Union for payments services. Besides, Purdue Federal is also joining Payrailz’ credit union service organization (CUSO), CU Railz, as an investor.

Established since 1969, West Lafayette-based Purdue Federal was looking forward to providing their members, many of whom are alumni, students, faculty or staff of Purdue University, with innovative digital banking tools. The CU wanted to ensure their members had access to payments services without the need to rely on other payment apps.

“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. 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,” said Bob Falk, Purdue Federal President and CEO.

By joining CU Railz, Purdue Federal is investing in the Payrailz’s vision and will help to shape the future of the payments experience. CU Railz was founded to enable CUs to take control of their future by partnering with Payrailz to develop new, innovative technologies and services that will revolutionize the payments experience. The Purdue Federal credit union will participate in the CUSO’s board of directors to provide input into creating smart, engaging payments experiences.

Payrailz will provide Purdue Federal with bill pay and person to person (P2P) payment services, with plans to add account to account (A2A) payments in the future. Its smart payment platform, PayWayz will empower Purdue Federal to create a smart, simple and engaging payment experience for members.

“Purdue Federal has a unique opportunity because of its university-focused membership. Having an innovative mobile payments strategy is important, especially with a membership base consisting of professors and students affiliated with the nearby university. Purdue Federal is a great example of how credit unions can and should put members first and adapt to their needs in order to retain members, and even grow,” said Fran Duggan, CEO Payrailz.

Founded in 2016, Payrailz is a digital payments company offering advanced payment capabilities and experiences including consumer and business bill pay, new account funding, P2P, B2B, B2C, external and internal transfers, and other related solutions to banks and credit unions.

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