New Paper: The PayNet Deposit Program

Posted on November 5, 2004

The Center for Financial Services Innovation (CFSI) is pleased to announce the release of a new paper–The PayNet Deposit Program: Check Casher-Credit Union Partnerships and the Point of Banking Machine.

The PayNet Deposit program is a partnership among check cashers and credit unions in the New York City metropolitan area that provides credit union members with access to their accounts through check cashing locations. The program is a prime example of the type of innovative partnership that has the potential to work to the benefit of both company and consumer to increase access to financial services among underbanked populations. This report outlines the key aspects of the PayNet Deposit program, including history, partners, economics and technology of the program, and lessons for expansion.

To download a copy of the report, please visit
http://www.cfsinnovation.com/managed_documents/pobpaper.pdf


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