• Fiserv adds program management and support for open-loop and general purpose reloadable prepaid cards
• Solution provides integrated reload capabilities at branches and in real-time at ACCEL/Exchange ATMs and POS terminals
• ACCEL/Exchange Scorecard integration enables FIs to track performance and optimize results of card and prepaid programs
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has integrated its ACCEL/Exchange(R) payments network with Prepaid Solutions from Fiserv, enabling financial institutions across the country to more effectively deliver prepaid products to their customers, and target new segments.
Prepaid cards are growing in popularity, especially general purpose reloadable cards. As prepaid cards are particularly popular with younger consumers, as well as the unbanked and underbanked, financial institutions need quick-to-market solutions that offer differentiated payment alternatives to serve these segments. Fiserv has integrated two of its market-leading platforms - ACCEL/Exchange and Prepaid Solutions - to meet this need.
As a result of this integration, Fiserv clients will be able to quickly develop and implement a prepaid card program. Program cardholders will benefit from expanded reload capabilities, including in-branch at the financial institution that issued the card, in real-time at participating ACCEL/Exchange ATMs and via Remote Deposit Capture (RDC). Financial institutions may select from a variety of program features to craft solutions tailored to their business needs. Prepaid issuers will benefit from the ACCEL/Exchange Scorecard, a tool already used by thousands of financial institutions to efficiently track and optimize the performance of their program against benchmarked expectations.
"The seamless integration of Prepaid Solutions and ACCEL/Exchange makes it easier than ever for financial institutions to quickly provide prepaid programs to address market needs," said David Keenan, general manager, ACCEL/Exchange, Fiserv.
"The remarkable growth in prepaid card demand necessitates more powerful, flexible solutions," said Phil Valvardi, general manager, Prepaid Solutions, Fiserv. "By leveraging two strong assets, Fiserv continues its tradition of delivering innovative and secure solutions for cardholders while improving the performance of payment programs for financial institutions of all sizes."