CU*Answers Reduces Pricing for Fiserv Bill Pay Services

CU*Answers announced a monthly price reduction of more than 15% and the introduction of new features for its EasyPay powered by Fiserv online bill payment tools. The reduced pricing is available to all existing Fiserv bill pay clients that migrate to the CUSO’s Cooperative Site model. The migration was offered free of charge (a savings of $3,000) to allow all CUSO credit unions to take advantage of the reduced pricing.

In addition to reduced prices, new optional features will also be offered to members, including A2A bill payment transfers, same-day bill payments, and overnight checks. The CUSO’s arrangement with Fiserv allows for credit unions to be paid a portion of the fee that members pay for these special services, anyway from $0.65 to $3.00 per transaction, paid directly to the credit union. Credit unions also can take advantage of new risk mitigation services as part of their overall bill pay package.

This price reduction represents the second year of a multi-year effort to redesign its online bill pay options, to drive down bill pay expenses for credit unions and create a new and improved experience for members. Future enhancements include more P2P payment tools, new tools for the CUSO’s It’s Me 247 Mobile Web Banking platform, as well as integrating bill pay features directly into It’s Me 247 online banking pages.