Radius Bank Launches Innovative Person-to-Person Payment Service

BOSTON, MA--(Marketwired - Jan 14, 2016) - Radius Bank, a full service bank with an industry-leading virtual banking platform, today launched its new Radius Pay a Friend person-to-person (P2P) payment service. The bank's personal checking account clients can now send secure payments to anyone, anywhere from their phone, tablet or computer in just seconds, and the funds can be collected instantly.

To send money via Radius Pay a Friend, users simply access the service from their Online or Mobile Banking account, enter the recipient's email address or mobile phone number and payment amount, and verify the transaction using their debit card's personal identification number (PIN). The recipient instantly receives notification with the payment information and enters his/her own debit card or bank account information to collect the funds. When the recipient chooses to collect the money using their debit card, the funds are available to them instantly.

Radius Pay a Friend is the latest addition to the bank's convenient suite of digital payment options, which include Apple Pay and Radius Pay powered by LevelUp. Radius also recently announced it anticipates rolling out Android Pay and Samsung Pay later in 2016.

"We are excited to launch this convenient, easy-to-use P2P service," said Michael A. Butler, Radius Bank's President and CEO. "Radius Pay a Friend provides a great user experience and is another example of our commitment to providing our clients with the best in banking technology. In just the last six months, we've introduced P2P and Apple Pay, and launched new partnerships with innovators Aspiration Partners LLC and Prosper, all of which is made possible by our industry-leading virtual banking platform. All of these products align with consumers' increasing preference for digital banking, and we look forward to continuing to innovate in 2016."

The service, powered by Acculynk, is fully branded and seamlessly integrated into Radius Bank's online and mobile banking platform, which is provided by Q2 Holdings, Inc. Radius is the first bank to roll out a P2P solution between these partners.

About Radius Bank
With assets of more than $781 million, Radius Bank is a community bank offering a full complement of business and personal products and services. The Bank serves consumers, small and middle market businesses, unions, and government entities as its core clients. The Bank offers anytime/anywhere banking via mobile device, 24-hour ATM service, and remote deposit capture, provides additional services such as treasury management capabilities, and partners with organizations including mobile payments leader LevelUp, online marketplace lender Prosper, student loan debt reduction company SmarterBucks and online investment firm Aspiration Partners LLC. Customers can readily access traditional, personalized branch banking at their financial center located in Boston, MA. Radius Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, visit the Bank's website at www.radiusbank.com.