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REPAY Announces Partnership with CU*Answers to Integrate Card Processing for Credit Unions

·3 mins read

The newly integrated partnership will optimize card processing and ACH transactions capabilities for credit unions

Repay Holdings Corporation (NASDAQ: RPAY) ("REPAY"), a leading provider of vertically-integrated payment solutions, today announced its partnership with CU*Answers, the 100% credit union-owned, data processing Credit Union Service Organization (CUSO). As an integrated partner, REPAY will enable U.S.-based credit unions utilizing CU*Answers’ CU*BASE platform with the ability to streamline processing efficiencies by securely accepting ACH and card processing via web, mobile, Interactive Voice Response (IVR) phone pay or text-to-pay through SMS messaging.

Through REPAY’s proprietary ACH and Debit Card processing platform, credit union members can self-serve and submit payments via multiple digital channels, including a fully branded virtual lobby with the ability to setup one-time or recurring payments. In addition to traditional Interactive Voice Response (IVR) to facilitate phone payments, Credit Unions can also deploy SMS-based text-to-pay as well as the REPAY Mobile App to enable acceptance of payments 24/7 via mobile phones with no requirement for live agent assistance. These flexible and secure payment methods help improve collection efforts and bring added convenience and personalization to the member experience, providing the ability to swiftly match the payment preferences of each individual.

"REPAY has a long history of servicing the needs of credit unions across the country, so partnering with CU*Answers – as a CUSO cooperative themselves – was a natural fit," said Susan Perlmutter, Chief Revenue Officer of REPAY. "The events of the first half of the year have made it clear that credit unions must adapt to the ‘next normal’ to not just survive, but thrive in this virtual world by equipping themselves to become strong financial partners who are ready, willing, and abundantly able to adjust to changing member preferences, industry trends, and world events. We feel REPAY’s partnership with CU*Answers offers an incredibly strong, reliable, and proven solution that credit unions can rely upon with great confidence to deliver on that promise."

Celebrating its 50-year founding anniversary, CU*Answers is a 100% credit union-owned CUSO located in Grand Rapids, Michigan. As a Cooperative, CU*Answers shares the same operating structure as Credit Unions, which are built by their members who fund and direct the organization through elections of leaders, allowing individual interests to align with community needs. The company builds core solutions, not just core software. CU*Answers offers a wide variety of services for credit unions including its flagship CU*BASE processing system in both an online (SaaS) and in-house environment, self-service options featuring the It’s Me 247 Online Banking product, electronic check processing services and much more.

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

About CU*Answers, Inc.

CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 50 years ago, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing nearly 2 million members and over $21 billion in credit union assets. For more information, visit www.cuanswers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200831005090/en/

Contacts

Investor Relations Contact for REPAY:
RepayIR@icrinc.com

Media Relations Contact for REPAY:
RepayPR@icrinc.com