Finovate Demo Video Archives

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Presenter Profile:

How they describe themselves: Payfinia is an independent payments company, providing community financial institutions (CFIs) with an open payment platform supporting instant payments and digital wallet services. Payfinia partners with third-party digital service providers and Fintechs to embed instant payments into various money movement workflows, providing CFIs with a diverse payments ecosystem. Its platform supported the first FedNow Service “send” transaction and enables CFIs to leverage embedded fraud controls to minimize potential risk and monitor transaction activity.

How they describe their product/innovation: Payfinia’s flagship offering, Instant Payments Xchange (IPX), is a secure, scalable, real-time money movement service. Through collaboration with Matera, Payfinia developed a composable payment service enabling a customer to scan a secure payment QR code presented on an invoice using a CFI’s mobile app and instantly pay the invoice using the FedNow Service. Using the native fraud controls in the IPX platform and new X9 QR code standard, QR code payments can occur across multiple networks-including FedNow, RTP, ACH, and digital assets.

Product distribution strategy: Through financial institutions, Through other fintech companies and platforms

Credit Union/Community Bank Fit: Credit unions and community banks

Contacts:

Bus. Dev.: Keith Riddle (General Manager), [email protected], 614-202-8583
Press: Gabriela Fowler (PR Account Representative), [email protected], 678-781-7229