FIS Teams With Neural Payments To Bring Embedded P2P To Banks And Credit Unions Over The NYCE Debit Network
FIS is offering the Neural Payments white-labeled P2P solution to its client banks and credit unions, embedded in mobile banking and powered by FIS scale and the NYCE debit network.
FIS announced that it is making the Neural Payments solution available to its client institutions, using FIS’s global scale and the NYCE debit network to bring embedded peer-to-peer payments to a wider range of banks and credit unions.
What FIS Institutions Get
- P2P inside the mobile banking app. FIS enables Neural Payments’ white-labeled solution to be embedded directly in the institution’s app, so members never visit a third party to send money.
- Send to anyone. Recipients do not need to bank with an institution that uses Neural Payments, download an app or register a new card.
- Recipient choice. Payments can be settled to a debit card or popular mobile wallets, with FedNow and The Clearing House RTP available, and recipients can claim funds within seconds.
- Real-time for closed-loop payments. For payments between linked debit accounts, settlement happens in real time within FIS clients’ existing products.
FIS described the combination of its industry reach and NYCE debit rails with Neural Payments as a way to streamline money movement for increasingly digital consumers.
“Aligning with FIS to bring our white-label P2P offering to financial institutions is a natural next step in the evolution of our long-standing relationship. This solution is already reshaping the P2P landscape with its open-loop system that transcends traditional banking boundaries.”
Mick Oppy, Co-Founder and CEO, Neural Payments
A Long-Standing Relationship
Neural Payments is an alum of the FIS Fintech Accelerator and won the accelerator’s 2022 Demo Day Award. This partnership extends that relationship to FIS’s client base of banks of all sizes and credit unions.
See how P2P works or book a demo.
Frequently Asked Questions
Is Neural Payments available to FIS clients?
Yes. FIS announced on August 15, 2024 that it is offering the Neural Payments solution to its client institutions, including banks of all sizes and credit unions.
What role does the NYCE network play?
FIS uses its NYCE debit rails and scale to power the Neural Payments P2P experience, bringing real-time money movement to a wider range of institutions.
Do recipients need to bank with an FIS institution or use Neural Payments?
No. Recipients can claim a payment even if their institution does not use Neural Payments, choosing how to receive it, such as a debit card or popular mobile wallet, often within seconds.
How do FIS institutions learn more?
FIS client institutions can contact FIS digital sales, or book a demo with Neural Payments.
