Pidgin is a powerful payments application that facilitates faster payments between consumers utilizing a variety of payment rails including real-time payments (RTP), ACH, and card payments. The Pidgin app is a safer, more efficient and faster way for consumers to move money designed to keep funds in the credit union. Often times these funds sit in a competitor’s digital wallet rather than the member’s account at the credit union. As volume on these types of applications continues to increase, a credit union’s net interest margin and liquidity could be significantly impacted. Pidgin allows consumers to conveniently and securely move money directly from their credit union accounts. Unlike other P2P applications, Pidgin can bypass the digital wallet structure and initiate a credit push directly between financial institutions in the RTP network.
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Corporate America Credit Union is live on both the RTP network and FedNow Instant Payments System. We are excited to offer this cutting-edge service option to our member credit unions. We are also offering Rise loan payment platform for your members to pay their loans from anywhere, anytime.
Take a look at our faster payment products that will enable you to give your members the flexibility they want and provide new opportunities for your credit union, too.
CACU Becomes Funding Agent for Real Time Payments Network
As a Funding Agent, CACU will allow member credit unions to efficiently manage their liquidity on the network at a lower cost and will fund and manage positions in the RTP Network’s joint Federal Reserve bank account on behalf of its members. CACU will be able to facilitate the settlement and 24/7 liquidity management for its credit unions in the RTP network.
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Videos
Who is The Clearing House?
How does the settlement work?
RTP Myths, Mystery, & Misunderstanding
or more information, please contact Corporate America at (800) 292-6242 or services@corpam.org.