SkyPoint FCU Launches SkyPoint Pay to Provide Unprecedented Security When Transferring Funds
September 28 2022 - 10:15AM
Business Wire
Verification through question and answer known
only to payer and payee offers greater security than other funds
transfer methods.
SkyPoint Federal Credit Union (SkyPoint), a premier,
member-owned financial institution, announces the launch of their
new product, SkyPoint Pay, which will provide their members with
unprecedented security when transferring funds between banks or to
individual payees.
While members still need only an email address or mobile phone
number to find the payee, SkyPoint Pay adds another layer of
security. The payer devises a security question that is unique for
each transaction, answers the question, and sends the answer to the
payee, who simply supplies the answer when prompted to claim the
funds. Such transfers occur in minutes using a debit card.
“SkyPoint Pay avoids the vulnerability of funds or personal data
and the fraudulent issues that can occur when transferring money,”
said Jorge Saenz, Chief Experience Officer for SkyPoint Federal
Credit Union. “Rather than relying on security questions and
answers that are on the internet, and therefore at risk of being
discovered, the payer writes a new question on the spot and sends
it only to the payee in the current transaction.”
Payers don’t need to remember the answers to questions that were
prepared months or even years ago because the question and its
answer are new with each transaction. SkyPoint Pay is easily
accessed through Sky Point’s digital banking solutions.
SkyPoint is always looking for ways to enhance customer
experiences, and SkyPoint Pay is the result of innovative thinking
and perseverance. SkyPoint Pay gives members the confidence of
having an extra layer of security when transferring funds. Yet, it
delivers that security in a way that is easy for anyone to use, in
keeping with SkyPoint’s goal of simplifying their members’
lives.
About SkyPoint Federal Credit Union (SkyPoint) SkyPoint
is one of the premier financial institutions serving Montgomery
County, MD; Frederick County, MD; Arlington County, VA; Alexandria
and Falls Church, VA; and the District of Columbia. SkyPoint is a
Community Development Financial Institution and a designated Juntos
Avanzamos credit union. To learn more, visit
www.skypointfcu.com.
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