Prairie Payments Joint Venture (PPJV) offers API-based payment processing and services for exchange, clearing, and settlement, enabling credit unions to provide fast and secure transactions. The platform addresses the need for modernized payment solutions in Canada, ensuring financial institutions remain competitive in a rapidly evolving payments landscape.
Funding
Funding not disclosed
Founders
Product
Problem
Canadian credit unions face challenges in keeping pace with the rapidly evolving payments landscape, often lacking access to modernized payment processing infrastructure. This can hinder their ability to offer fast, flexible, and secure payment options to their members, impacting competitiveness.
Solution
Prairie Payments Joint Venture (PPJV) provides API-based payment processing and related services, including exchange, clearing, and settlement, designed to modernize payment solutions for Canadian credit unions. By offering a comprehensive suite of services, PPJV enables credit unions to provide their members with fast, flexible, and secure payment options. PPJV's platform ensures that credit unions remain competitive by providing access to efficient and cost-effective payment processing infrastructure. Through strategic partnerships, including a Payments as a Service (PaaS) collaboration with IBM for cloud modernization, PPJV continues to evolve its payment solutions.
Target Audience
The primary target audience consists of Canadian credit unions seeking to modernize their payment processing capabilities and offer enhanced payment solutions to their members.
Features
- API-based payment processing for exchange, clearing, and settlement
- Modernized payments platform ensuring competitiveness in the evolving payments landscape
- Secure and compliant payment processing adhering to industry standards
- Strategic partnerships for continuous innovation and solution enhancement
- Cloud modernization through Payments as a Service (PaaS) partnership with IBM
- Customer Automated Funds Transfer (CAFT) modernization
- Real-time rail (RTR) implementation