VSoft Partners with Payrailz to Integrate Intuitive Payment Services
VSoft Corp., a global provider of information and technology solutions for financial institutions, announced a partnership with Payrailz, a digital payments company offering smarter, more engaging and secure payment experiences to banks and credit unions. VSoft will integrate Payrailz’s payment services into its digital banking platform, Arya.
Announced during this year’s Symitar Educational Conference & TechConnect, the partnership will enable financial institutions that use Arya to offer their account holders an improved and smarter payments experience with Payrailz. Retail account holders can use the service to view billing information and transact payments with specified delivery times, including immediate, same day, next day, or on a pre-determined future date.
Automated and recurring payments can also be scheduled. Business and commercial account holders will benefit from advanced automation tools to streamline processes including establishing user entitlements, viewing billing information, as well as invoice payments to their business partners or other payees.
Payrailz’s technology draws inspiration from other industries that have leveraged advancements in technology and artificial intelligence to meet the growing demand to automate tasks for users. Payrailz believes the industry is ready for a “do it for me” solution to better manage their payment needs and has built a powerful engine driven by predictive smart technology to turn payments into an afterthought for consumers.
According to a study from Javelin, banks and credit unions are the first place that most consumers turn to for transacting bill payments, facilitating $3.5 trillion in payments for several bills, including $442 billion that is transacted via smartphones and tablets. This research highlights the importance of providing digital banking services that help account holders consolidate their financial activity and banking purchases, which boosts customer loyalty and long-term profitability for the financial institution.
