VSoft, a payment solution provider, has announced the integration of their platform with Pidgin, a real-time payment service.
This partnership, announced by the company on Monday (Aug. 28), will allow VSoft’s core processing product Wings to deliver real-time transaction processing across a variety of payment rails, including the Federal Reserve’s new FedNow Service and The Clearing House’s Real-Time Payments Network.
Meanwhile, VSoft’s Arya digital banking platform communicates with Pidgin’s real-time payments system, enabling financial institutions to offer quick payment options via online and mobile banking channels.
“Enabling real-time transaction processing is more important than ever for today’s financial institutions, especially as instant payments go mainstream following the launch of the FedNow Service,” said Murthy Veeraghanta, chairman and CEO of Vsoft.
“Financial institutions require a modern, flexible core system that allows them to easily roll out new payment offerings in order to support a variety of faster payment options for their account holders.”
“Consumers and businesses alike have shown an appetite for real-time payment options from their financial institutions,” said Pidgin founder and CEO Abhishek Veeraghanta.
He cited statistics suggesting that 80% of Americans desire faster payment options for goods and services.