USALLIANCE Financial, a Rye, N.Y.-based credit union (CU), has chosen the FIS Payments One platform to simplify and modernize its collection of credit and debit card digital payment offerings for its members, according to a Thursday (June 24) announcement.
“Payments One is built to make payments simpler by giving financial institutions a single platform for all of their card processing with digitally-native capabilities and the tools they need for this new era of digital payments,” Bill Hampton, head of the Credit Union Division at FIS, said in the announcement. “We are thrilled to be working with a leader in the credit union space like USALLIANCE who will be able to leverage Payments One’s flexible architecture to support customized credit and debit offerings for the communities it serves.”
FIS Payments One, which is developed on open application programming interfaces (APIs), gives customers the flexibility to access third-party offerings by the way of the FIS Code Connect ecosystem. Moreover, the Payments One system equips USALLIANCE with a full view of debit, credit and automated teller machine (ATM) card transactions “from initiation to authorization and settlement,” according to the announcement.
“As we sought to enhance our card offerings to our clients and cardholders, we found the FIS Payments One platform to be unique in the market for its simplicity, flexibility and advanced digital features. With a consolidated payments offering, we can continue to focus on our members’ needs and better compete in a fast-changing market,” Kevin Randall, EVP at USALLIANCE Financial, said in the announcement.
USALLIANCE, which was established in the 1960s, currently manages over $2 billion in assets for over 125,000 members.
The news comes as FIS posted results that displayed organic growth as banks moved to update their infrastructure and merchants accommodated the continued shift by consumers to spend throughout digital channels. More specifically, earnings of $1.30 outpaced the Street by 5 cents, and consolidated revenues of $3.2 billion were up 4 percent, and slightly outpaced the Street.