May 18, 2021

Dover Federal Credit Union Launches Real-Time P2P Payments with Payrailz

-Credit Union and Payrailz Collaborate to Provide Members with a Faster Payments Experience –

Glastonbury, CT – May 18, 2021 – Payrailz®, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, announced that Dover Federal Credit Union will now offer real-time P2P payment services via the Payrailz platform.

With real-time payments as the new standard for sending and receiving money, Dover Federal recognized it needed to find a new partner that understood its needs and could innovate and collaborate to make faster payments a reality. Payrailz shared this vision for the future of payments and brought a combination of clear understanding and proven experience with the latest in payments technology to the table that backed up this vision. By working in tandem with Payrailz, Dover Federal now offers members access to easier, more convenient P2P payments with immediate availability via the Payrailz platform.

Dover Federal Credit Union and Payrailz worked hand in hand to create a payment experience that is not only better for members on the front end, but one that works seamlessly on the back end. A project of this caliber took an incredible amount of teamwork and transparency from both companies, but the end result demonstrates what can be accomplished when everyone shares the same vision and passion for taking the payments experience to the next level.

“Payrailz continues to be a terrific partner for Dover Federal and continues to create value for our members. As we have worked closely with them over the past few years, it has become apparent that they are a partner and not a vendor.,” said Travis Frey, CIO of Dover Federal Credit Union. “Recently working with their development team on a real-time person to person payment option leveraging the Symitar SymXchange API, it has once again proven to us that they dedicated to creating quality work on our existing platforms.”

“We love to work with financial institutions that share our vision for smarter, faster, more engaging payments experiences and Dover Federal has been an incredible credit union to work with,” said Fran Duggan, CEO of Payrailz. “Everyone approached this project with an attitude of teamwork and because of this open collaboration, we were able to deliver on a vision that many credit unions only see as a dream for the distant future. Real-time payments are no longer a nice-to-have, but a must-have and we are so proud to be able to help Dover Federal get ahead of the curve.”

About Dover Federal Credit Union

Originally founded on Dover Air Force Base in 1958, Dover Federal Credit Union ($608M) is a not-for-profit financial institution with 8 branch locations and 45,000 members. Voted the Reader’s Choice Credit Union of the Year and the First State Favorite Credit Union for the past 4 years, Dover Federal continues to help their members get there, wherever that may be.  To learn more about Dover FCU visit www.doverfcu.com.

About Payrailz®

Payrailz is a digital payments company offering advanced payment capabilities and experiences including consumer and business bill pay, external and internal transfers, new account funding, P2P, B2B, B2C, and other related solutions to banks and credit unions. In a society that increasingly has become focused on a “do it for me” culture, Payrailz’ smart technology makes the difference. Payrailz creates smarter payment experiences for the financial services industry that are predictive and more engaging than currently available alternatives. Financial institutions can confidently embrace Payrailz’ API-first and cloud-native technology engine, to offer unique payment solutions to their consumers and businesses. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit payrailz.com, follow them on Twitter @PayrailzFacebook or LinkedIn, or contact Mickey Goldwasser at 860.430.9245.

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