Happy Money Partners with Method to Further Streamline Debt Consolidation for Members

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Jul 09, 2024, 08:07 ET

Partnership enables a faster payment execution and greater visibility into money movement

TORRANCE, Calif., July 9, 2024 /PRNewswire/ -- Happy Money, a leading provider of unsecured lending that helps credit unions grow, today announced a strategic partnership with Method, a leading provider of real-time data and payment access for consumer liabilities, to enhance the way members consolidate and pay off high-interest credit card debt.

Happy Money and Method joined forces to provide members with a seamless experience paying off outstanding credit card debt via Happy Money’s Direct Card Payoff™ feature.

Happy Money offers personal loans to streamline paying off credit card debt, saving consumers thousands of dollars thanks to low interest rates and a single, fixed payment. The integration of Method's liability connectivity APIs into Happy Money's platform enables more accurate and real-time identification of members' outstanding credit cards, live balance retrieval and balance transfer, without requiring members to enter account numbers or remember passwords. The partnership has resulted in an enhanced member experience and deeper transparency into money movement.

"Happy Money is helping consumers across the country access the capital they need to reach their goals in partnership with credit unions and other community-focused lenders," said Jose Bethancourt, CEO at Method. "With the integration of our technology, they are ensuring the process is as seamless, quick and efficient as possible, creating value for all involved."

Since the partnership's onset, Happy Money members have connected over 50,000 accounts through Method's APIs, with millions of dollars of consumer debt being consolidated monthly via Method's connectivity and payment rails. Through the partnership, Method has facilitated over $7M in balance transfers for Happy Money members, helping them pay off debt faster.

"At Happy Money, we believe that prioritizing borrowers' well-being is a winning strategy; our platform allows consumers to meet their financial goals and enables credit unions to diversify their portfolios and grow," said Nick Pesce, Head of Product and Design at Happy Money. "With Method's sophisticated APIs, we gain more real-time information around consumers' outstanding credit cards, faster payment execution and more robust reporting."

About Happy Money

Happy Money is designing a happier way of lending that helps borrowers achieve their goals and helps credit unions achieve greater impact. Backed by leading investors, Happy Money has helped over 300,000 members since inception – working with community-focused lending partners to fund more than $6 billion in loans. Visit happymoney.com for more.

About Method Financial

Method's APIs are redefining financial connectivity with real-time, read-write, and frictionless access to all consumer liability data with integrated payment rails. Method helps lenders increase revenue by streamlining customer acquisition, improving underwriting accuracy, and increasing line utilization through balance transfers, all without the need for a consumer's username and password. Today, Method powers solutions for over 60 fintechs, lenders, and FIs including Aven, Bilt, Upgrade, and Figure. Method is backed by a16z, Abstract Ventures, YC, Truist Ventures, and more. To learn more, visit https://methodfi.com.

SOURCE Happy Money