News from the Wire

Pioneer FCU picks Payfinia’s Instant Payment Xchange

Wednesday, December 18, 2024 — 13:45:34 (EST)

PORTLAND, Ore. — December 18, 2024 — Pioneer Federal Credit Union (Pioneer FCU, $746 million in assets and 50,000 members) selected Payfinia’s Instant Payment Xchange (IPX), an open, real-time payments framework, to elevate cash management services for its retail and business banking members.

Mountain Home, Idaho-based Pioneer FCU needed a money movement solution that offered a self-service, instant payment option for credit transfer send and receive. IPX delivers enhanced instant payment capabilities that bring significant value to Pioneer FCU’s members, consumers and businesses, as well as layered security controls to mitigate fraud.

“Pioneer FCU is dedicated to introducing solutions that make a real difference in our members' financial lives. Adding an instant payments solution was a no-brainer,” said Tracey Miller, SVP of Operations at Pioneer FCU. “With IPX, we’re empowering our members to manage their finances more effectively and provide immediate access to their funds.”

“At Payfinia, we prioritize a digital trust-first approach, ensuring secure and reliable payments that enhance cash management for Pioneer FCU’s members,” said Nizar Jamal, CTO and COO of Payfinia. “We’re thrilled to partner with Pioneer FCU to deliver real-time send and receive payment capabilities, offering its account holders immediate access to funds and greater control over their financial lives.”

With nearly two-thirds of U.S. households living paycheck-to-paycheck, according to recent estimates from PYMNTS, CNBC and SurveyMonkey, access to real-time payments is critical for financial stability. IPX helps alleviate financial stress for Pioneer FCU members by enabling immediate access to funds, whether to cover daily expenses or effectively manage business cash flow. Additionally, IPX enhances back-office operations and payment settlement functions for the Pioneer FCU staff.

To learn more about Payfinia, email info@payfinia.com or visit payfinia.com.

About Pioneer Federal Credit Union

Pioneer Federal Credit Union is known for its commitment to the deep-rooted credit union philosophy of “People Helping People.” Its commitment to improving the quality of life for its members and the people in the community dates back over seventy years. Pioneer goes there with innovative, substantive, and low-cost financial solutions by delivering financial rewards through a comprehensive line of products and services to complement any lifestyle and budget so its members get to where they need to be financially.

About Payfinia Inc.

Payfinia Inc. is an independent payments company, providing community financial institutions (CFIs) access to and ownership of their instant payments services. Payfinia’s flagship product offering, the Instant Payments Xchange (IPX), is a secure, scalable and affordable real-time money movement service. Additionally, Payfinia partners with third-party digital providers to integrate instant payments with traditional payment and money movement solutions, extending the technology provider’s capabilities, while also providing member FIs a more robust payments ecosystem. To learn more about Payfinia, visit payfinia.com.

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Source: Company press release.