Your Customers are Looking for Instant Payments
451 Research reports that nearly half of consumers are inclined to open an account with a real-time payment-supporting banking service provider. To retain these customers, consider InstantPay Connect, our real-time payment solution in partnership with Pidgin. InstantPay Connect offers immediate, secure transactions across multiple payment channels, such as the FedNow Service and The Clearing House’s RTP Network. InstantPay Connect, powered by Pidgin’s instant payments platform, keeps funds secure within your community bank during transactions, eliminating waiting or transfer periods. Your benefits include:
- Access to multiple payment channels
- Robust profile and risk management tools
- Seamless integration with your core provider
- Single-sign-on integration with BBCONNECT
- and more.
More About Pidgin
Pidgin is a new, innovative and secure faster payments ecosystem, enabling financial institutions, business owners and individuals to process transactions faster and with lower fees. Engineered to deliver innovation both today and in the future, no matter how payments evolve, Pidgin allows financial institutions to send and receive faster payments almost instantly, but in a more secure way than virtual wallet alternatives.
FAQs
Won’t faster payments mean faster fraud?
While no payment rail is free from fraud, faster payments shouldn’t mean faster fraud. InstantPay Connect offers adaptable solutions to match your bank’s risk profile and fraud mitigation needs. Customize customer transaction limits and profiles for enhanced control. Pidgin’s step-up authentication leverages existing mobile banking app security protocols, adding an extra layer of user confirmation. Additionally, geolocation restrictions can be implemented to deter fraudulent activities.
Why should my community bank adopt an instant payments solution?
Implementing an instant payments solution can provide your community bank with a substantial competitive edge. It sets you apart from financial institutions that lack this offering, opening doors to increased revenue, enhanced efficiency, real-time central-bank money settlement, and reduced interbank settlement risk.
Why should I adopt InstantPay Connect instead of another provider’s solution?
There are several compelling reasons to opt for instant payments facilitated by ICBB, powered by Pidgin, as opposed to alternative providers. InstantPay Connect stands ready for immediate implementation, in contrast to other service providers that may lack immediate availability. Furthermore, choosing InstantPay Connect eliminates the need for you to invest in building your own payments hub, granting your bank access to managed operations, multiple payment rails, competitive pricing, invaluable administrative data, and essential post-commitment support resources.
Why should I adopt InstantPay Connect instead of partnering with my core provider?
Choosing InstantPay Connect over a solution provided by your core provider minimizes your bank’s reliance on the core provider, affording you increased leverage and negotiating agency in future interactions. This strategic decision underscores a commitment to optimal efficiency and flexibility for your community bank.
Who might use InstantPay Connect?
InstantPay Connect has a wide range of applications, including A2A payments, C2B bill pay, B2B transactions, P2P payments, B2C transactions, and Government/Municipal Payments. Major chains like Wendy’s, Grubhub, DoorDash, and UberEATS are gearing up to embrace instant payments. The Treasury also has future plans for its use. For your business customers, InstantPay Connect can enhance value by streamlining the Accounts Receivable to Accounts Payable process.
How does the Instant Payments integrate with my core provider?
InstantPay Connect powered by Pidgin is designed with core integration in mind. Our platform integrates with several core service providers with new integrations added regularly. You can tailor your Pidgin platform interface to your bank’s mobile banking experience. Also, the Pidgin business portal allows single sign-on integration with BBCONNECT.