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 Enable the RTP® Network, TCH’s Faster Payments System, for Banks and Credit Unions
GLASTONBURY, Conn.--(June 18, 2019)--Payrailz™, an artificial intelligence (AI), digital payments company offering smarter, more engaging payment experiences to banks and credit unions, has committed to bringing faster payments capabilities to its bank and credit union clients through the RTP® network developed by The Clearing House (TCH). With the RTP network, and as a third party service provider (TPSP), Payrailz will be able to deliver to its bank and credit union clients the most modern payments infrastructure in the world, enabling financial institutions’ consumers and businesses to send, clear, and settle payments immediately while also providing for advanced messaging capabilities.
“Our bank and credit union clients need financial technology tools that align with their personal and business needs. Providing real-time payments is an important step for us, allowing us to deliver important new functionality to our bank and credit union clients and their customers or members, thereby improving their banking experience,” said Payrailz CEO Fran Duggan. “Working with TCH gives us the confidence that we will be able to achieve these goals, while at the same time providing our clients with banking capabilities that they have come to expect in a cost-effective manner. At Payrailz, our vision is to provide smarter, more engaging and faster payment experiences and we are very excited to enable the RTP network to help us further deliver on this promise.”
The RTP network is the first new core payments infrastructure built in the United States in over 40 years and is delivering a wave of payments innovation to benefit customers nationwide. The RTP network enables the real-time gross settlement of payment obligations between financial institutions. For consumers and businesses, the RTP network provides the ability to conveniently send payments and enriched data directly from their accounts at federally insured depository institutions 24/7, and to receive and access funds sent to them over the network immediately.
By implementing the RTP network, Payrailz client financial institutions can join a growing number of financial institutions offering advanced new capabilities to their customers or members. The RTP network currently reaches more than 50% of U.S. accounts and is on track to reach ubiquity by 2020. The RTP network offers a flat pricing structure for all depository institutions regardless of size and does not include volume discounts or have minimum volume requirements.
“Payrailz’ community bank and credit union clients will be able to make and receive real-time payment transactions on the RTP network that will benefit their customers,” said Steve Ledford, Senior Vice President and RTP Product Executive at TCH. “We are committed to providing access to real-time payments capabilities on the RTP network to all U.S. depository institutions, and we are excited to work with Payrailz to bring real-time payments to their clients.”
About The Clearing House
Since its founding in 1853, The Clearing House has delivered safe and reliable payments systems, facilitated bank-led payments innovation, and provided thought leadership on strategic payments issues. The Clearing House continues to leverage its unique capabilities to support bank-led innovation, including launching the RTP® network, a real-time payment system that modernizes core payments capabilities for all federally insured U.S. depository institutions. The Clearing House is the only private sector ACH and wire operator in the United States, clearing and settling nearly $2 trillion in U.S. dollar payments each day, representing half of all commercial ACH and wire volume. As the country’s oldest banking trade association, The Clearing House also provides informed advocacy and thought leadership on critical payments-related issues facing financial institutions today. The Clearing House is owned by 24 financial institutions and supports hundreds of banks and credit unions through its core systems and related services. Learn more at www.theclearinghouse.org.
Payrailz is a digital payments company offering advanced bill payment and money transfer 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’ cloud-based technology engine, including AI, dynamic workflow, open data exchange, and a robust SDK to offer unique payment solutions to their customers. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit www.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"