Attention Paymentus Bill Pay Credit Unions
If your credit union offers P2P only with Paymentus, please note that in your contract, you were advised that you would be charged a per transaction fee along with monthly minimums that you would need to meet (aka usage fees). From the date that your credit union went live with Paymentus P2P until now, these fees have been provided to you gratis.
It is now time to begin passing these fees along to credit unions. After reviewing the program, we have decided to adjust the original plan in order to reduce the amount credit unions would pay due to monthly transaction minimums. Instead, effective February 1st, 2024, your credit union will be billed a flat monthly usage fee of $50.00/mo., plus $0.661 per P2P transaction. (This new, lower monthly usage fee is in place of the $137.00 monthly minimums originally planned.) You’ll see these new line items appear on your February invoice that you receive in early March.
If you have any questions, please reach out to SettleMINT EFT.
