Irondale, AL (March 27, 2024) |
First Florida Credit Union, headquartered in Jacksonville, FL, is the first credit union to go live on both the RTP Network and FedNow Service to receive payments via the Pidgin Exchange payments platform. Members of First Florida can now instantly receive payments and access funds transferred to them using either of these payment rails, 24/7/365.
First Florida partnered with Corporate America Credit Union to utilize Pidgin Exchange to connect to both networks to further member capability in the faster payments arena.
“Increasingly, members want real-time solutions for their banking needs,” said Brent Lister, President and CEO of First Florida. “Incorporating RTP and FedNow payment rails into our transfer infrastructure removed a barrier to immediate access to transferred funds. The decision aligns with our promise to listen and be responsive to our members' needs.”
Pidgin Exchange is a service provider providing technology that enables transactions to move across either the RTP or FedNow rails. “We look forward to supporting this member-focused institution and further fueling the adoption of real-time payments across the country,” said Abhishek Veeraghanta, Founder and CEO of Pidgin.
Corporate America Credit Union is not only working with Pidgin and First Florida to facilitate these transactions, but will also serve as the settlement point for the credit union. Chief Innovation Officer Lisa Coffey is extremely passionate about credit unions staying competitive and relevant in today’s landscape of digital payments. “Our industry must remain vigilant when it comes to new payment channels and giving our members what they want. Consumers have proven they want fast, easy, and reliable ways to move money and CACU is dedicated to offering these solutions.”
Pidgin Exchange offers an open API, meaning core providers can connect easily for a seamless body of work. For more information email services@corpam.org.