Marvin (Mickey) S. Goldwasser
95 Glastonbury Blvd., Suite 105
Glastonbury, CT 06033
Payrailz offers smart and engaging payment experiences for the financial services industry. Our company was built around the central mission of making payments and money movement smarter and more engaging.
We enable financial institutions to better meet the expectations of their users by offering a payment solution with a “do it for you” approach that keeps users well informed and in control. Our personalized, responsive service ensures we provide support when you need assistance.
Payrailz helps financial institutions exceed expectations by offering solutions users expect today while constantly innovating to meet needs of the future.
Smart Pay is a new generation of electronic bill presentment and payment with all the features you’ve grown to expect from a bill-pay solution plus the ability to interact conversationally with digital assistants and messaging bots. Our AI-driven capabilities alleviate the stress of making payments by delivering insights about your bills and payment accounts.
Our forward-thinking electronic bill presentment and payment experience offers the beautiful design, ease of use and security needed to engage customers. View your billing information and pay anyone with a choice of delivery times – emergency/immediate, same day, next day, future date, recurring schedule or simply “set it and forget it” with our auto-pay capabilities – and payment methods.
Person Pay (P2P)
Person Pay enables frictionless digital payment experiences between consumers. It provides the freedom to send, request and split money electronically with friends, family or any individual with an account at a financial institution in the United States – simply by providing their email address or mobile phone number. Payments can be delivered in real time, same day, next day, or on a future date.
External Transfers (A2A)
Responding to consumer expectations requires being able to facilitate transactions across any banking relationship. This service lets consumers transfer money between accounts at your financial institution and accounts they hold at other financial institutions in the United States. With our advanced authentication solutions, you can rest assured that transfers are delivered accurately and securely. Transfers can be delivered in real time, same day, next day, on a future date or a recurring schedule.
New Account Funding
With our advanced authentication and account funding solutions, you can rest assured that new account opening deposits are delivered accurately and securely so you can reduce your operating costs and lower abandonment rates.
Business Smart Pay
Business Smart Pay is a new generation of electronic bill and invoice presentment and payment with all the features you’ve grown to expect from a business bill pay solution plus the ability to interact conversationally with digital assistants and messaging bots. Our AI-driven capabilities can improve your cash flow and deliver insights about your invoices and payment accounts.
Business Bill Pay
Businesses need smarter payment solutions that allow them to spend less time on their finances and more time on their business. Payrailz Business Bill Pay’s intuitive design makes interactions for bill and invoice presentment and payment simple and engaging. Businesses can establish user entitlements, view their billing information, make one-time, future-dated, recurring and automatic payments, as well as invoice payments to their business partners – or anyone they need to pay.
Customer Pay (Disbursements)
Customer Pay enables frictionless digital payment experiences between your business clients and their customers. It provides them the ability to disburse payments electronically to their customers holding accounts at financial institutions in the United States – simply by providing an email address or mobile phone number. Payments can be delivered in real time, same day, next day, or on a future date.
External Transfers (A2A)
Responding to your business clients’ expectations requires being able to facilitate transactions across any banking relationship. This service enables your businesses to move money between accounts at your financial institution and accounts they hold at other financial institutions in the United States. Transfers can be delivered in real time, same day, next day, on a future date or recurring schedule.
New Account Funding (A2A)
Make getting started with your financial institution as easy as possible with solutions like New Account Funding, which allows businesses to fund newly opened deposit accounts from checking and savings accounts they hold at other financial institutions in the United States. With our advanced authentication solutions, you can rest assured that transfers are delivered accurately and securely.
Payrailz to Pilot the Mastercard Bill Pay Exchange
GLASTONBURY, Conn.--(December 18, 2019)---Payrailz®, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions announced that in an effort to help consumers view, manage and pay bills with greater ease it is working with Mastercard to pilot, test and support the Mastercard Bill Pay Exchange, which provides real-time bill payment capability directly from digital banking apps.
Under this pilot program, Payrailz will integrate its Smart Payments Platform solution with the Mastercard Bill Pay Exchange enabling consumers to have centralized access to bills from their financial institution’s website or mobile app, providing a more secure and easier way to link billing accounts, view bills and make payments through the Payrailz platform.
With Bill Pay Exchange, consumers can receive their bills faster and see their bills live. Consumers can pay those bills either with cards, real-time payments or traditional bank transfers, and receive confirmation of payment from the biller in real-time, all within their banking app or website.
Additionally, as a part of the Mastercard Bill Pay Exchange, Payrailz joins a network dedicated to enhancing consumers’ bill pay experience, particularly telecom, utility, rent, credit card, mortgage and other personal bills. The program enables consumers to pay these bills directly through their financial institution by using a single touch point. This removes the need to set up multiple direct accounts with each service provider.
This solution will give billers access to a new billing and payment channel, which can reduce the cost of mailing paper bills and processing checks, provide streamlined reconciliation and lower customer support costs due to added payment transparency. Billers will also have the option of accepting cards, real-time payments or traditional bank account payments as they do on their own websites.
“Since first announcing Bill Pay Exchange, Mastercard has continued to evolve this digital solution to benefit consumers, billers and financial institutions alike,” said Ronald Shultz, executive vice president, New Payment Flows, North America, Mastercard. “With this solution, Payrailz will be able to bring speed, transparency and efficiency to bill payments.”
“The Mastercard Bill Pay Exchange represents a major shift in the way consumers, billers and financial institutions will handle bill payments,” said Fran Duggan, CEO of Payrailz. “We are honored to be involved in this initiative and see this cooperative approach to transforming the bill pay experience as a necessary and timely development. At Payrailz, we continue to seek new and innovative ways to enhance the payments experience for all parties, and this pilot is one important way we are pursuing this corporate goal.”
Payrailz is a digital payments company offering advanced payment capabilities and experiences including consumer and business bill pay, external and internal transfers, new account funding, P2P, B2B, B2C and other related solutions to banks and credit unions. In a society that increasingly has become focused on a “do it for me” culture, Payrailz’ smart technology makes the difference. Payrailz creates smarter payment experiences for the financial services industry that are predictive and more engaging than currently available alternatives. Financial institutions can confidently embrace Payrailz’ API-first and cloud-native technology engine, to offer unique payment solutions to their consumers and businesses. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit payrailz.com, follow them on Twitter @Payrailz, Facebook or LinkedIn, or contact Mickey Goldwasser at 860.430.9245.
Download white paper below: "Creating a Smarter, More Engageing Payments Experience"