LINO LAKES, Minn. — Core processing provider Sharetec System said it has teamed up with ProPay to provide credit unions a payment solution for their members.
ProPay, based in Lehi, Utah, supplies secure payment solutions to businesses large and small. The company said its ProtectPay platform will "empower" credit union members by allowing them to pay mortgages and auto loans using their favorite Visa, MasterCard, Discover or transactional account.
Dave Duncan, president of ProPay, said in a statement the company's relationship with Sharetec System, "Will offer credit union members the latest technology for ease and convenience of making loan payments. Borrowers can pay any time or anywhere using a smart device, by simply replying to a text message or one-click e-mail invoice."
Credit unions would pay no transaction fees, while a "small convenience fee" is paid by members, Duncan explained.
Keane Kulak, Regional Director for Sharetec, said, "Members want simplicity, and teaming with ProPay gives Sharetec one more tool to provide our customers a simple and affordable payment solution for their members. ProPay provides one more channel to make the payment process that much easier. We are excited to see where this partnership takes us and the success we know it will bring to our credit unions."
ProPay, which has been in operations since 1997, is a wholly owned subsidiary of TSYS.
Sharetec System is a provider of both in-house and service bureau core solutions. It has nearly 300 credit union clients nationwide.
