Zelle Instant Payments

$1,500.00

plus $500 monthly fee.

An integration to Zelle from our online banking platforms, via a solution provided by Velera (formerly known as PSCU/Co-Op Solutions). This solution utilizes the Velera shared branching rails and infrastructure we have built for our national shared branching solution, although a credit union will not have to use Velera national shared branching to take advantage of this new interface.

To purchase this product, you will need to have already purchased COOP Shared Branching or add it to your cart.

Overview

Now available is an integration to Zelle from our online banking platforms, via a solution provided by Velera (formerly known as PSCU/Co-Op Solutions). This solution utilizes the Velera shared branching rails and infrastructure we have built for our national shared branching solution, although a credit union will not have to use Velera national shared branching in order to take advantage of this new interface.

Open the Flyer

The user experience:

  • Member logs in to online banking and clicks a “Send money with Zelle” SSO link.
  • Will launch a Zelle application (using a UI maintained by FIS), displayed within a frame (some minimal branding options may be available)
  • We’ll pass information about the member to check for enrollment status.
  • If the member isn’t enrolled yet, terms & conditions are presented.
  • Member can enroll using phone number, email address, or both (a verification code is sent to complete enrollment)
  • Once enrolled member can send/money via Zelle
  • Member can choose names from their contact list or create from scratch.

How transactions work:

  • Will ride via the shared branch transaction communication rails.
  • All processing functionality is the same, using a different network ID and transaction processing codes – so if you are a SB client, you’ll start seeing additional traffic coming through along with shared branch activity (same daily reports, same settlement process, etc.)
  • If recipient is already enrolled, funds move right away; if not, the recipient must enroll and designate where the money should go before transaction is initiated to the member (so CU*BASE won’t know about the transaction until then)

Other features:

  • CUs don’t need to participate in the Velera SB network, but they will be using our Issuer module to interface to CU*BASE
  • We can develop this for both desktop/mobile web as well as the mobile app (we may decide to do one at a time)
  • Members who have already enrolled via another FI will have the option of transferring their existing token
  • Velera handles all alert notifications to the phone/email address provided by the member when enrolled
  • Split requests (one request for funds to be sent to multiple people) are supported
  • Member can view their activity within the Zelle UI

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