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Written by Karl Kaluza
on November 15, 2017

 

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The number of Person 2 Person (P2P) users is expected to rise to about 120 million by the year 2020. Companies like Venmo, Paypal, and Square Cash all offer your members the product they are looking for – the ability to pay anyone through their phone or email. Instead of missing out on these transactions, why not offer your members the ability to pay anyone, at any time through their trusted credit union?

Member Access Pacific (MAP) offers credit unions a completely customizable P2P payment option. Our Pocket2Pocket program from CU24 product will allow your members to pay the babysitter, roommates, friends and virtually anyone with an email or phone number in real time.

 

P2P payments can be brought to your credit union through a simple integration, and our expert team will work with you to design a program to meet your member’s needs. Our P2P products were developed with credit unions in mind, unlike other third-party options. That is why with MAP’s Pocket2Pock program you decide if a fee makes sense for your credit union members. You also choose any policies and disclosures you would like to accompany the program.

 

Once implemented, your members will have access to a payment app designed to match your credit union's brand seamlessly. The app requires no back-end changes to be made by your credit union, saving you time and money. This product is genuinely turnkey and ready to use whenever your credit union is prepared to launch its new product.

 

Not only does MAP offer an affordable product with a low entry cost, but P2P payment solutions also save your credit union money by reducing the number of check transactions all while building member loyalty. Offering a desirable digital payment option creates valuable cross-sell opportunities, which can increase the profitability of your members.

 

Our Pocket2Pocket product uses the latest technology and is 100 percent secure. Each payment transferred uses a PIN to eliminate the risk of fraud and will put your members’ minds at ease. Best of all, our product does not require registration, unlike other mobile payment options. So it is truly the quickest, most convenient P2P option.

 

Studies have found that 22 percent of consumers are willing to switch to a credit union if they offer a P2P service. Stop losing out to third-party P2P companies and provide your members the payment option they are looking for by contacting MAP today.

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