Credit Union Service Organization PSCU Acquires Juniper Payments

PSCU, a payments credit union service organization (CUSO), announced Wednesday (May 11) that it has completed its purchase of Juniper Payments.

Juniper Payments is a cloud-based non-bank third-party provider of inter-bank transaction and reporting systems. With the transaction, the owners of the company will continue with the company under PSCU.

In its press release, PSCU said Juniper’s work in the automated and unattended banking ecosystem has been able to help with “vision and reliability.”

Juniper’s transaction services reportedly provide “key interfaces” for financial institutions, leveraging the payment entry, transaction management and connectivity to help out with reaching the Federal Reserve or third-party providers.

The release said Juniper will also help out with value-added services for PSCU, supporting more payment types. PSCU said it will add multi-tiered payments, including ACH processing and domestic and international wire remittance.

PSCU will also add virtual back-office payments gateway and instant payments, along with reporting and services for compliance and risk management.

“We are proud to welcome Juniper to the PSCU family,” PSCU CEO and President Chuck Fagan said in the release. “The addition of Juniper Payments enables us to directly participate in faster and real-time payments innovation, providing our financial institutions with managed connectivity to the Federal Reserve, The Clearing House and the forthcoming FedNow service.

“This strategic expansion of our product suite aligns with PSCU’s commitment to broadening and diversifying our footprint in financial services, while furthering our financial institutions’ ability to deliver personalized, connected experiences for their accountholders.”

PSCU also recently rolled out a digital consulting practice that will bolster digital offerings for credit unions, which will help out with digital returns on investment and bolster product use.

See also: PSCU Offers Digital Consulting to Member Credit Unions

PSCU’s recent partnership with Curinos was also a boost for this effort. According to Yvonne Stelpflug, senior vice president of Advisors Plus at PSCU, the new consulting practice will help credit unions keep up with digital trends in the evolving world.