Using SpotPay, merchants are set to be able to swipe credit and debit cards with their mobile devices to accept payments. Merchants will also be able to deposit cheques using the mobile remote deposit capture feature from Fiserv that allows users to take a picture of the front and back of a cheque and deposit the item electronically.
SpotPay from Fiserv is available to financial institutions that are part of the ACCEL/Exchange payments network. Those financial institutions will be able to offer the service to their small business and merchant customers as a way to provide them with a solution to collect credit and debit card payments as well as to remotely deposit cheques.
In recent news, US-based financial institution Animas Credit Union has selected Fiserv for the latter’s XP2 account processing service as well as other solutions.
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