Partnership brings text-based loan repayment and merchant payment processing solutions to Finovifi’s growing Marketplace
BIRMINGHAM, Ala. — September 11, 20326 — Finovifi today announced that TRX Services, an Atlanta-based provider of payment processing and financial technology solutions, has joined the Finovifi Marketplace, expanding the payment capabilities available to community banks and credit unions.
Through the partnership, Finovifi financial institutions will have access to two key TRX Services offerings: MessagePay, a conversational loan repayment platform, and a comprehensive Merchant Services program designed to help financial institutions provide modern payment acceptance and processing capabilities to their business customers.
“Payments are an important part of how community financial institutions compete, serve their customers and build stronger relationships,” said Coy Ogle, Head of Partnerships at Finovifi. “TRX brings us solutions that address both sides of that opportunity. MessagePay makes loan repayment easier for consumers, while their merchant services capabilities give banks and credit unions another way to deliver value to their business customers.”
MessagePay simplifies the loan payment process by allowing borrowers to receive payment reminders and make payments from their mobile phones. Rather than navigating multiple logins or complicated payment portals, borrowers can interact with secure text messages and use ACH or debit card payment options.
For returning users, payments can be completed with a simple text response and authorization, creating a faster experience for the borrower while helping financial institution teams reduce payment-related calls and manual collection activity.
Customizable reminders allow institutions to communicate in their own voice, while real-time payment processing gives both borrowers and financial institution teams greater visibility into payment status.
TRX Services also provides merchant acquiring and payment processing solutions that financial institutions can offer to business customers as an extension of their treasury and cash-management services.
TRX supports a broad range of payment types and environments, including credit and debit cards, ACH, digital payments, point-of-sale, e-commerce, mobile, contactless and virtual terminal transactions. Its merchant platform also provides centralized reporting and payment-management capabilities.
The combination enables financial institutions to offer business customers modern payment capabilities while maintaining a relationship-focused service model.
“Financial institutions are looking for ways to make payments simpler for both consumers and businesses without adding unnecessary complexity,” said Joy West, Vice President, Banking Channel at TRX Services. “Joining the Finovifi Marketplace gives us an opportunity to bring MessagePay and our broader payment-processing capabilities to more community banks and credit unions that want to improve the payment experience for the people and businesses they serve.”
TRX Services emphasizes secure payment processing through technologies including encryption and tokenization and provides solutions across multiple payment channels.
“TRX is a strong addition because these are practical solutions tied directly to everyday banking,” Ogle added. “Whether it is making it easier for a borrower to pay a loan or helping a business accept payments, the focus is on reducing friction and improving the customer experience.”
TRX Services joins a growing network of technology and service providers available through the Finovifi Marketplace, connecting community financial institutions with specialized solutions across payments, fraud prevention, compliance, cybersecurity, digital banking and other critical areas.
To learn more about TRX Services and other solutions available through the Finovifi Marketplace, visit finovifi.com/marketplace.
Headquartered in Atlanta, Georgia, TRX Services provides payment processing and financial technology solutions for businesses, software providers, banks and credit unions. Its offerings include merchant payment processing, MessagePay loan repayment technology, accounts receivable and payable solutions, chargeback prevention and other payment services designed to simplify financial operations and improve the payment experience.
Learn more at trxservices.com.
Finovifi helps community financial institutions reduce risk, simplify operations and modernize banking. Its technology ecosystem includes solutions across fraud prevention, compliance automation, BSA/AML monitoring, ACH fraud monitoring, core banking, digital banking, teller modernization, audit management and imaging, along with an expanding Marketplace of specialized technology and service providers.
Learn more at finovifi.com.