Disrupting Payments: How LocalPay Allows Banks to Increase Deposits and Revenue with a Pay-By-Bank Offering

Podcast

Disrupting Payments: How LocalPay Allows Banks to Increase Deposits and Revenue with a Pay-By-Bank Offering

Brought to you by: LocalPay

Episode Summary

In this episode, the American Bankers Association talks with the team behind LocalPay, a patented Pay-by-Bank platform enabling consumers to pay merchants directly from their bank accounts—without cards or intermediaries. Learn how LocalPay is partnering with core banking providers like Jack Henry, Fiserv, and FIS to streamline merchant acceptance, reduce payment costs, and drive revenue and deposit growth for banks. Discover how real-time discounts, banking app integration, and a modern approach to merchant payments are reshaping the future of local commerce.

Speakers

Kent J Yan, Founder and CEO, LocalPay
Lottie Watts, Sr. Director, ABA

Sponsor

LocalPay

LocalPay provides Community Banks with a patented Pay-by-Bank solution that allows Consumers to pay local Merchants directly from their bank accounts without any intermediaries. Merchants are directly connected with paying banks through seamless integration in the FIS, Fiserv, and Jack Henry banking cores to achieve much lower transaction fees with real-time capable settlement and greater Consumer Rewards. LocalPay puts Community Banks at the center of their local economies to increase their Revenue, Deposits, and Consumer lending.