Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, announced today that it has completed a successful pilot with Jacksonville, Fla.-based VyStar Credit Union to offer card-free access to cash at participating ATMs with CardFree Cash from Fiserv.
“Member convenience is a key component of our overall payments strategy,” said Melissa Thomas, vice president, Electronic Payments and Card Services, VyStar Credit Union, which has $5.6 billion in assets. “With CardFree Cash, our members can securely access funds from an ATM immediately without their debit card regardless of the reason they don’t have it with them.”
If a member’s debit card is lost, stolen, breached, or simply left at home, they can still withdraw cash by using a secure access code and PIN at a participating ATM. For added security, VyStar Credit Union can set withdrawal limits, number of transactions allowed and length of time the access code can be used by each member.
“Today’s consumers have come to expect immediate, easy and secure access to their money,” said Vincent Brennan, president, Card Services, Fiserv. “Card replacement can take time, and wire transfers can be expensive. Instant access to funds without a card helps financial institutions improve service and security.”
Card-free cash withdrawals in the pilot are performed at acquiring partner Payment Alliance International’s (PAI) participating ATMs and completed over the Accel debit payments network.
“ATMs aren’t just for card-carrying consumers anymore,” said John J. Leehy, III, president and chief executive officer of PAI. “PAI is thrilled to partner with a debit payments industry leader like Fiserv to deliver a unique solution that leverages the Accel network of ATMs, where consumers can obtain cash at convenient, secure and card-free access points across the United States.”