As part of the agreement, Fiserv will authorize the credit union to use its Accel/Exchange electronic funds transfer network in order to provide its customers with PIN debit payment services. Accel/Exchange delivers funds and payments access to its members and their cardholders.
The network began processing and offering online PIN debit transactions in November 2009 as a result of a PIN debit pilot programme initiated in March 2009 by Accel/Exchange and Acculynk, a US payment services provider.
Most recently, Fiserv has closed agreements with four credit unions, namely Omega Federal, Mission City Federal, Affinity Credit Union and Saratoga Community Federal Credit Union, to provide the latter with account processing platforms along with several other capabilities designed to support internet banking, electronic statements as well as card processing services.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now