Catalyst News

Catalyst Corporate Now Provides a P2P Solution

by Catalyst Corporate | Feb 09, 2021

Credit unions now have a new choice as they look to enter the fast-growing person-to-person payment (P2P) environment. Catalyst Corporate Federal Credit Union announces its launch of PayMōli this week, providing credit unions an easy onramp to the marketplace.

Catalyst Corporate's P2P mobile payment solution, PayMōli, is easy to implement, allowing credit union members to transfer funds from their account to a friend's account quickly and securely.

“Catalyst Corporate has been working toward this launch date since it initially acquired Georgia-based Aptys Solutions last year,” said Brad Ganey, Chief Operating Officer at Catalyst Corporate. Now a CUSO owned by a consortium of corporate credit unions, Aptys Solutions is dedicated to developing technology-based solutions that help credit unions compete in the faster payments arena.

With Catalyst Corporate‘s solution, there are no installations at a credit union. Members access P2P services through the PayMōli mobile app that credit unions can offer with their own branding.

Ganey notes that PayMōli is processed through ACH, so there are no new operational steps, and there are no third-party middlemen removing funds from member accounts.

PayMōli benefits include:

  • A quick, easy-to-implement P2P solution for credit union members
  • A custom-branded app that is simple to download and allows members to perform P2P transactions in a safe and secure manner
  • Processed as ACH
  • Keeps members’ funds in their checking or savings account
  • Ongoing enhancements will bring new features, such as a real-time option via debit card rails in second quarter 2021

“Offering a safe mobile payment solution gives your credit union a competitive advantage and keeps your members and their money at your credit union,” Ganey said.

Ganey, along with Eric Dotson, Executive Vice President of Aptys Solutions, will address questions about P2P adoption and PayMoli implementation in a live, online educational event, entitled, To P2P or not to P2P? That is the Question. The event is Thursday, February 11 at 1 p.m. Central Time.

More than 150 industry professionals have already registered to attend this 45-minute event designed to provide P2P answers.

There is no cost to attend and registration is now open. Sign up for the P2P educational event here.