Tyfone Launches Payfinia Inc. to Disrupt Instant Payments Digital User Experience

Laura Lenz / Anna Stanley
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Tyfone, a leader in digital banking solutions, announces the formation of Payfinia Inc., a separate entity dedicated to providing innovative solutions that redefine instant payments. This new venture leverages Tyfone’s expertise in digital banking user experience (UX) and intellectual property (IP) developed through the successful deployment of the Instant Payment Xchange (IPX), a secure, scalable and affordable money movement gateway to the FedNow Service.

The Instant Payment Xchange (IPX) has already converted nearly 30% of Same-Day ACH Credit transactions to Send transactions on push instant payment systems, offering a digital experience that seamlessly routes existing payment solutions through networks like FedNow. This shift enhances operational efficiency and fraud prevention. With the launch of Payfinia, Tyfone is poised to further revolutionize instant payments by elevating the digital user experience across the landscape.

Payfinia will offer cutting-edge solutions grounded in digital trust and security, enabling organizations across industries to access real-time payments with unprecedented efficiency and reliability. By shifting its IP and technology, including advanced UX and security protocols, from Tyfone to Payfinia, the company is poised to set a new standard in instant payments.

"We’ve seen remarkable results with our Instant Payment Xchange, achieving 50% less fraud compared to Same-Day ACH and fourfold reductions over other P2P solutions," said Siva Narendra, CEO of Tyfone. “As we launch Payfinia, we’re doubling down on security with cryptographic, deterministic methods aimed at countering AI-driven fraud risks, while ensuring instant payments remain efficient, secure and accessible. This is just the beginning of Payfinia’s impact across industries.”

Laurent Desmangles, an expert in the financial technology sector, stated, “The shift to real-time payments is a transformative development for the financial sector as a whole. Innovations in this space are paving the way for faster, more secure transactions that benefit both consumers and businesses. As the industry embraces these advancements, we will see improvements in efficiency and trust, which are essential for modern financial ecosystems.”

Carol Coye Benson, Retired Founding Partner, Glenbrook Partners, and a prominent thought leader in push payments, also commented on Payfinia’s potential, “We are witnessing a generational transformation in payment systems, where real-time payments are becoming essential not just for efficiency but also for financial inclusion. Ensuring these systems are accessible, secure and interoperable is crucial so that payments can be sent and received seamlessly across all types of financial institutions. This connectivity is fundamental to achieving a truly ubiquitous and efficient real-time payment landscape.”

In addition to partnering with financial institutions, Payfinia is also partnering with bank and credit union core processors and third-party digital providers to integrate instant payments into their traditional payment and money movement use cases including A2A, P2P, Bill Payment, B2B and B2C disbursements, extending the technology provider’s capabilities, while providing users a more robust payments ecosystem.

To learn more about Payfinia, email info@payfinia.com or visit payfinia.com.

About Payfinia Inc.

Payfinia Inc. is an independent payments company, providing community financial institutions (CFIs) access to and ownership of their instant payments services. Payfinia’s flagship product offering, the Instant Payments Xchange (IPX), is a secure, scalable and affordable real-time money movement service. Additionally, Payfinia partners with third-party digital providers to integrate instant payments with traditional payment and money movement solutions, extending the technology provider’s capabilities, while also providing member FIs a more robust payments ecosystem. To learn more about Payfinia, visit payfinia.com.

About Tyfone

Based in Portland, Ore., Tyfone is a leading provider of consumer and commercial digital banking services for community financial institutions throughout the U.S. We understand that an elegant, engaging, intuitive user experience is the minimum requirement for any digital banking provider. What differentiates Tyfone is our unwavering commitment to continuous innovation, exceptional collaboration, and superior execution. We consider each customer a true partner and place the highest value on every relationship. To learn more about Tyfone, visit Tyfone.com and connect on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241015545341/en/

"We’ve seen remarkable results with our Instant Payment Xchange, achieving 50% less fraud compared to Same-Day ACH and fourfold reductions over other P2P solutions," said Siva Narendra, CEO of Tyfone.