January 16, 2019

Payrailz, Mich. digital-pay vendor ally

Photo | Contributed
Photo | Contributed
Payrailz launched in Nov. 2017.

Glastonbury financial-technology vendor Payrailz says a Michigan digital-pay vendor to credit unions has signed up for its digital payments service that assists billpayers.

Chelsea, Mich.-based Mahalo Technologies Inc., which provides online and mobile banking services for credit unions, is partnering to offer Payrailz's new platform, embued with artificial intelligence, to its credit unions for customers' bill-paying needs. Financial terms were not disclosed.

Payrailz introduced its platform last fall that lets banking customers receive push notifications to a smartphone about upcoming bills and, with a text response. Customers, in turn, can authorize the bank to pay those bills.

U.S. banks and credit unions are increasingly using digital tools from fintech providers to enhance their depositors' banking experience.

Last June, Payrailz announced a partnership with Billshark, a Massachusetts bill-reduction service to be bundled with Payrailz services.

Payrailz CEO Fran Duggan previously estimated that by the end of 2018, nearly 250,000 banking customers will be paying more than 1 million bills a month through Payrailz.

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