Members Can Now Receive Instant Payments via the RTP Network and FedNow Service
Alacriti, a leading provider of cloud-based payments and money movement solutions, announces its partnership with Ascend Federal Credit Union, enabling members to receive instant payments 24/7 through The Clearing House’s RTP network and the Federal Reserve’s FedNow Service. With over 250,000 members and assets exceeding $4.4 billion, Ascend is dedicated to delivering innovative financial solutions that enhance member convenience and accessibility. This collaboration allows members to receive payments instantly, improving cash flow and financial flexibility.
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By integrating Alacriti’s Orbipay Payments Hub, Ascend gains a modernized, cloud-native payment platform that connects to multiple payment rails—including the RTP network, the FedNow Service, ACH, Visa Direct, and wire transfers while providing real-time visibility and operational efficiency.
“The Orbipay Payments Hub is incredibly easy to use, and our members appreciate the convenience of having instant access to their money. The platform’s intuitive design and real-time visibility have made managing instant payments seamless.”
Through this partnership, Ascend members benefit from:
- Immediate access to funds – Payments settle within seconds, 24/7, even on weekends and holidays.
- Seamless integration – Transactions flow smoothly through Ascend’s existing digital banking and fraud prevention systems.
- Expanding use cases – More businesses are leveraging instant payments for earned wage access, wealth management, investments, and account-to-account transfers, driving broader adoption.
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“We were pleased with the implementation process and how quickly transactions started flowing once we went live” said Jennifer Stratton, Assistant Vice President of Payments at Ascend Federal Credit Union. “The Orbipay Payments Hub is incredibly easy to use, and our members appreciate the convenience of having instant access to their money. The platform’s intuitive design and real-time visibility have made managing instant payments seamless.”
“We are excited to see Ascend Federal Credit Union partner with Alacriti to provide innovative payments products to its members,” said Keith Gray, Vice President of Industry Partnerships at The Clearing House. “Members are already benefitting from instant access to money they receive, and we look forward to seeing how Ascend and Alacriti add more instant payment capabilities, including the ability to send payments, in the near future.”
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“We are excited to partner with Ascend Federal Credit Union as they take a strategic approach to modernizing their payments infrastructure,” said Mark Majeske, SVP of Faster Payments at Alacriti. “With instant payments now live, Ascend is well-positioned to continue evolving its offerings and provide best-in-class financial services to its members.”
Currently, Ascend has enabled Receive functionality for instant payments, allowing members to receive real-time transfers from employers, payment apps, and financial institutions. As part of its long-term strategy, Ascend plans to expand its real-time payments capabilities by introducing Send functionality in the future.
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Source –PR web
