FRANKLIN, TN (March 18, 2025) |
Core10, a leading provider of middleware products and software development services for financial institutions and fintechs, and PayNearMe, the fintech company bringing progress to payments, today announced a strategic partnership to simplify and enhance loan repayment capabilities for community banks and credit unions
By enabling PayNearMe’s platform with Core10’s Mesh middleware, the partnership enables financial institutions to seamlessly connect an industry-leading payment solution to their core banking system. Banks and credit unions can deploy PayNearMe’s capabilities in just weeks, accelerating their path to modernizing the payment experience.
“Partnering with Core10 is a key step in expanding our reach in the banking and credit union market,” said Michael Kaplan, Chief Revenue Officer at PayNearMe. “Core10’s Mesh platform, with its pre-built connections to major core systems, makes deploying PayNearMe fast and simple. With PayNearMe, banks and credit unions can provide borrowers with a frictionless, mobile-first payment experience – reducing agent-assisted payment interactions by up to 40%. By improving the payment experience, financial institutions can decrease delinquency, reduce call center volume, and lower their cost of acceptance.”
Core10’s existing connections to Jack Henry, Fiserv, CSI, and other major core banking providers enable financial institutions to quickly implement PayNearMe with minimal IT effort. The tight, real-time core integration ensures immediate payment posting and balance updates, improving efficiency and accuracy in transaction processing.
Through PayNearMe, banks and credit unions can offer borrowers a full suite of modern payment options, including PayPal, Venmo, Cash App Pay, Apple Pay, Google Pay, cards, ACH, and cash at 62,000+ retail locations, all within a single integration. This flexibility ensures borrowers can pay using their preferred methods, increasing on-time payments and successful self-service transactions while reducing costly support calls. Additionally, PayNearMe consolidates the reconciliation process, allowing back-office staff to view all transactions in a single file and significantly reduce manual reconciliation costs.
“Core10 is dedicated to helping financial institutions innovate faster,” said CEO Jeff Hanson, Core10. “Our Mesh middleware makes it easy for financial institutions to connect new fintech solutions into their ecosystems, and PayNearMe is an ideal payments partner. Together, we’re helping banks and credit unions deliver exceptional payment experiences that drive down costs through streamlined operations and improved payment success rates.”