Hello, we just launched a person to person service using Payzur (Acculynk), and was wondering if anyone else has used them? I would love to ask a few specific questions if you're familiar. Would you refer them? How was your roll out? and what due diligence did you do? Thank you so much for any input.
- We have Payzur and it is not as popular as what we had. When we were with Digital Insight we used POP Money from Fiserv and we had gained a lot of traction with POP Money with the customer base. Now that we are with Q2 Software and switched to Payzur, we have experienced a drastic fall-off in usage and adoption. The selling point from Q2 on Payzur was that the bank would benefit from the added interchange, since Payzur drives on the debit card rails. However, the biggest complaint we get is that customers no longer have the ability to schedule recurring P2P via Payzur since a debit card PIN is required for every transaction. This kills the recurring transactions (key it and forget it). With POP Money, they could--and did. We are realizing that our customers are now using alternative methods for P2P that are more convenient, with less friction--and of course once they are gone or are using alternative methods, they most likely will not be back. I do not even use our Payzur P2P product due to the inability to schedule recurring transfers.
The bonus of additional debit card interchange has turned out to be bogus in our case.
- The reconciliation process is not fun when there is a large volume of transactions. It is very manual.