Patelco Credit Union invests in Payfinia CUSO

This investment signals a push for faster, more integrated payment and lending options at the point of sale. Patelco Credit Union is backing Payfinia to modernize how financial institutions handle transactions. For retailers and merchants, this means the local credit unions you often rely on for customer financing are upgrading their tech stacks. They are moving away from slow, legacy systems toward 'open payment' frameworks. This shift is designed to make loan approvals and fund disbursements happen in real-time. When credit unions have better technology, they can compete more effectively with big BNPL providers. You may soon see more competitive, low-interest financing offers from credit unions that integrate directly into your checkout flow. This move specifically targets the 'friction' in the lending process. It aims to make the leap from a customer's application to a completed purchase much faster. As more credit unions join these technology service organizations (CUSOs), expect a wave of new digital lending tools tailored for small to mid-sized merchants.

Source: Finextra — Lending

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