Fiserv targets pre-paid opportunity
(1 March 2011 – Global) Fiserv, a global provider of financial services technology solutions, has announced today it is once again expanding its digital payment portfolio by launching a new set of prepaid solutions.
Fiserv will offer prepaid processing, turn-key program management, and support of general purpose reloadable and payroll cards for large financial institutions and corporations.
The technology company has acquired prepaid card processing and other technologies developed by Maverick Network Solutions, a Delaware-based provider of advanced prepaid and reward and incentive card programs.
This next generation of prepaid allows the convenience of reloadable, brandable cards to its world-class payment networks such as CheckFree® RXP®, ACCEL/Exchange®, ZashPay® and CheckFreePay®.
'Launching these prepaid solutions is part of the overall strategy to enhance our payments leadership through delivering next generation solutions," said Rahul Gupta, president, Card Services, Fiserv.
"Fiserv intends to integrate a number of its leading products and networks to create solutions that deliver differentiated and unique value for our clients and the vision for our prepaid solutions is a holistic prepaid offering that will include processing, program management, a DDA replacement card and private label programs.'
Many financial institutions are looking at prepaid as a way to gain new customers and build loyalty.
Prepaid cards are growing in popularity, especially general purpose reloadable cards. They are particularly popular with younger consumers, the unbanked and underbanked, and can offer payment alternatives to enable banks and merchants to serve these segments.
The technology company has acquired prepaid card processing and other technologies developed by Maverick Network Solutions, a Delaware-based provider of advanced prepaid and reward and incentive card programs.
This next generation of prepaid allows the convenience of reloadable, brandable cards to its world-class payment networks such as CheckFree® RXP®, ACCEL/Exchange®, ZashPay® and CheckFreePay®.
'Launching these prepaid solutions is part of the overall strategy to enhance our payments leadership through delivering next generation solutions," said Rahul Gupta, president, Card Services, Fiserv.
"Fiserv intends to integrate a number of its leading products and networks to create solutions that deliver differentiated and unique value for our clients and the vision for our prepaid solutions is a holistic prepaid offering that will include processing, program management, a DDA replacement card and private label programs.'
Many financial institutions are looking at prepaid as a way to gain new customers and build loyalty.
Prepaid cards are growing in popularity, especially general purpose reloadable cards. They are particularly popular with younger consumers, the unbanked and underbanked, and can offer payment alternatives to enable banks and merchants to serve these segments.
Subscribe