19 October 2017
visit www.avoka.com

Fiserv introduces combined debit and credit processing

27 April 2004  |  504 views  |  0

Fiserv, Inc. (Nasdaq:FISV) announced the introduction of a combined debit and credit processing solution that will enable financial institution clients to consolidate all of their card-based product offerings, including credit, debit and ATM cards, with a single-source provider.

The Fiserv solution provides the "one-stop shopping" benefit of combined debit and credit services with high-value ancillary services including ATM terminal driving. Unique advantages to Fiserv clients include relationship pricing that provides economies of scale for increased transaction volumes, an enterprise-wide viewpoint for enhanced account relationship management, and the ability to leverage key technology and infrastructure requirements including telecommunications services. Fiserv also is planning to offer elements of a combined back office support system as part of its debit and credit service suite.

Fiserv designed its solution by leveraging its extensive ATM, POS and off-line debit transaction processing experience with the Fiserv PLUS(TM) System. The PLUS System unites VisionPLUS® credit processing software - the industry's leading credit-processing solution - with decades of Fiserv information-processing expertise. This powerful mix of software and service provides a state-of-the-art foundation upon which businesses can build innovative private-label, revolving, bankcard and installment credit programs.

"Our goal in joining our debit processing product with the PLUS System is to create an all-in-one solution that will streamline our clients' debit and credit processing tasks," said Tony Catalfano, President and Chief Operating Officer of Fiserv EFT/CNS. "With all of the best features of both products, we can respond to client needs by saving them time and adding convenience to their workday."

Max Narro, President of Fiserv Credit Processing Services, said the key benefit to clients is the ability to leverage a total Fiserv relationship.

"From pricing to operations to customer service, it's a winning combination for us and our clients," Narro said. "Nowhere else in the industry will you find a single debit and credit processing solution that offers all the benefits of Fiserv debit/credit processing, including reliability, access to all debit networks and single-point settlement. Clients also receive the ability to start and stop credit promotions automatically, update statement messages in real time, offer consumers real product choices without special programming, automate the general ledger with updated reporting received every day, offer flexible billing cycles and enable variable rate programs."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comRegister nowvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15515 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8707 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8334 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7785 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6960 views comments | 9 tweets | 17 linkedin

Featured job

circa £250K total package
London

Find your next job