October 23, 2014 4:56 AM ET

Internet Software and Services

Company Overview of Allied Payment Network Inc.

Company Overview

Allied Payment Network Inc. provides online bill payment services to financial institutions and consumers. Its products and services include a walk-up bill payment system designed for use by financial institutions, such as banks and credit unions to make payments on behalf of customers who are not online bill payment customers; custom user interfaces for retail bill payment; small business bill payment services; back-end payment processing; and a real-time Web-service lookup service that allows Websites to provide users with information about what payment options are available and how long a payment will take to get posted with the biller. The company was founded in 2010 and is based in Fort...

3201 Stellhorn Road

Northeast Indiana Innovation Center

Fort Wayne, IN 46815

United States

Founded in 2010

Phone:

260-399-1618

Key Executives for Allied Payment Network Inc.

Executive Vice President and Board Member
Age: 70
Vice President of Credit Union Services
Senior Vice President of Sales
Compensation as of Fiscal Year 2014.

Allied Payment Network Inc. Key Developments

Allied Payment Network Launches PortalPay - Online Loan Payment Solution

Allied Payment Network Inc. announced the availability of its PortalPay solution, an online loan payments option that allows a financial institution to accept loan payments through their website, from any internal or external checking account, without the need for an Internet banking user relationship. PortalPay seamlessly operates as a landing page within the bank or credit union's website. It enables individuals to make same day loan payments directly on their lending institution's website - using any checking account - even when the account is with another institution. To make a payment, customers or members simply enter their contact information, loan number and the account information from the checking account of choice. This offers loan payment simplification -- without the friction -- by offering a web-based loan payment option for borrowers, even those who are not Internet banking users. PortalPay also gives financial institutions the option of up-charging for payments made from other financial institutions. A convenience fee could also be offered for those loan consumers who need the convenience of last minute payment options, saving them an additional late fee charge and, in turn, naturally building a longer term financial institution loyalty with this option. Additionally, the product includes PicturePay(R), which allows the consumer to make the payment by simply taking a picture of their check. This eliminates the need for a consumer to find and enter their routing and account information for their checking account.

Allied Payment Network Announce Internet Bill Pay Solution

Allied Payment Network announced that FlexPay, Allied's Internet bill pay solution, now offers banks and credit unions full integration with Allied's PicturePay mobile photo bill pay solution, as well as flexible, per-transaction pricing rather than the traditional per-user pricing model. The integration offers several other advantages. FlexPay payees are populated from PicturePay photos, and payee lists are synced between both products. FlexPay seamlessly integrates with any online banking platform to match the look and feel of an institution's existing website to provide bank customers and credit union members with greater continuity in their online banking experience. Users can also choose from a variety of available user interface formats to match their individual preferences. Additionally, FlexPay's expedited payment options provide customers and members with more control over the timing of their payments. Significantly, Allied offers an alternative to traditional pricing for bill pay services.

Allied Payment Network Inc. Appoints Joe Bellavance as Vice President of Credit Union Services

Allied Payment Network announced that Joe Bellavance has joined the company as its vice president of Credit Union Services. Bellavance will be responsible for supporting the sales and marketing efforts surrounding Allied's online and mobile bill pay solutions, specifically within the credit union space. Allied has realized significant market adoption of its Picture Pay(R) mobile photo bill pay solution among community financial institutions and has tapped Bellavance to manage continued growth within the credit union sector.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 22, 2014
--
Private Placement
December 26, 2013
--
 

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