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Pidgin

Pidgin

Solution(s): Pidgin Instant Payments
Website(s): pidgin.net (Off-site)
Contact: Angela Murphy, angela.murphy@pidgin.net

Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve. Learn more.

Services and products to support the FedNow® Service

Pidgin is a certified FedNow Service provider and instant payments platform purpose-built for financial institutions. As one of only a small group of certified providers capable of supporting both send and receive functionality, Pidgin now serves more than 100 financial institutions delivering instant payment services to their customers and members.

Account types supported: Pidgin supports instant payment transactions for both retail and business account holders for all of our integrated core systems and any third-party system that can integrate to our open APIs. Funds are settled directly within the financial institution, eliminating the need for third-party holding accounts or virtual wallets, which enhances security and keeps deposits within the institution.

User interfaces and system integration: Pidgin provides a secure web-based portal and restful APIs to initiate, manage and monitor instant payment activity. The platform supports full ISO® 20022 messaging, Request for Payment (RFP) and remittance data. Financial institutions can configure transaction limits, monitor real-time activity, manage user access and reconcile settlement positions, all within a single dashboard.

User types supported: Pidgin’s platform is designed for all stakeholders at any financial institution and their technology partners, including account holders, financial institution operations staff, compliance and fraud teams, and correspondent banking partners. Through their financial institution, retail and business customers benefit from 24x7x365 payment initiation and receipt. Pidgin also supports multi-rail flexibility, enabling a strategic, future-ready instant payments program.

Segment type(s)

  • Financial Institution Service Provider

Solution type(s)

  • Payment Service Providers

Use cases/markets served

  • Bill Pay and Presentment
  • Brokerage
  • Buy Now Pay Later
  • Construction
  • Digital Wallet Funding/Defunding
  • Government (e.g., municipality, state, federal)
  • Health Care
  • Insurance
  • Loans (direct or indirect)
  • Merchant
  • Other
  • P2P Payments
  • Payroll
  • Real Estate (e.g., escrow, property management)
  • Transportation

FedNow functionality supported

  • Correspondent Settlement Services
  • FI Staff-Initiated Transactions
  • Fraud Prevention/Monitoring Service
  • Liquidity Management Transfers
  • Receiving FedNow Transactions
  • RFP Transactions – Businesses Receiving
  • RFP Transactions – Businesses Sending
  • RFP Transactions – Consumers Receiving
  • RFP Transactions – Consumers Sending
  • Sending FedNow Transactions – Business Accounts
  • Sending FedNow Transactions – Consumer Accounts

Ability to integrate with outside core processing solutions

  • Yes, any (core agnostic)

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Note on exchange information

Federal Reserve Financial Services (FRFS) is solely a host for the information presented in this Innovator Exchange and the inclusion or exclusion of a provider should in no way imply any relationship with, or recommendation or endorsement by, the Federal Reserve. Exchange presenters are not utilized by the Federal Reserve for the production or delivery of the FedNow Service. FRFS takes no responsibility for the content or accuracy of the information presented. Users of the exchange should perform their own due diligence on providers. See the Terms of Use and Privacy Policy for additional information.