Wethersfield online/mobile digital-payments facilitator Payveris is partnering with Geezeo, a leading personal financial management systems vendor to banks and credit unions, to leverage each other’s products and technology to a wider audience.
Financial and other terms of their partnership weren’t disclosed.
Founded in 2011, Payveris provides fully integrated, online and mobile e-payment technology that is more affordable for community banks, credit unions and pre-paid card users.
Based in Tolland, Geezeo provides more than 300 banks and credit unions digital channels through which they can deliver finance-management tools and services.
“… Our goal is to provide financial institutions with a single platform that offers the best digital payment and money movement experience whether it’s paying a bill, transferring between financial accounts or paying a friend,” Payveris President Fran Duggan said in a statement. “Geezeo is a thought leading company that understands the importance of giving their users a holistic view of financial assets, liabilities, cash flow, goals and budgets.”
As previously reported, a 2010 study by Javelin Strategy and Research, which tracks consumer transactions for financial institutions and payment companies, alternative payments by American consumers — including mobile technologies — are expected to grow to more than $79 billion a year by 2016, up from just $22 billion in 2008.
“As customers and members seek additional ways to seamlessly manage their finances from their online or mobile devices,’’ said Geezeo CEO Shawn Ward, “the ability to pay bills or make payments from their online or mobile devices is a natural complement to Geezeo’s market leading personal financial management and unique web-based, data-driven marketing platform.”
