CU*Answers Introduces Electronic Payment Processing

CU*Answers, data processor to nearly 200 credit unions nationwide, recently announced a new partnership with Payveris and Vanco, a partnership that will allow CU*Answers clients to receive electronic bill payments from their members. The data processor expects this bill pay enhancement will improve the lending experience its clients can offer members since payment time for electronic transmittal is much quicker than it is for paper checks. CU*Answers clients who opt to have their transactions processed exclusively through Payveris can have this service set up for free, with no monthly costs or transaction fees. Clients who opt to have transactions processed through any other bill pay vendor partnered with Vanco will be charged a nominal setup fee as well as a monthly service fee and transaction fees.