CardFree Cash helps financial institutions and ATM owners meet
consumer demand for convenient, secure access to funds
The patent-pending CardFree Cash solution positions Accel® debit
payments network to deliver network-based, card-free transactions at
BROOKFIELD, Wis.–(BUSINESS WIRE)–Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that it has completed a successful
pilot with Jacksonville, Fla.-based VyStar Credit Union to offer
card-free access to cash at participating ATMs with CardFree Cash from
“Member convenience is a key component of our overall payments
strategy,” said Melissa Thomas, vice president, Electronic Payments and
Card Services, VyStar Credit Union, which has $5.6 billion in assets.
“With CardFree Cash, our members can securely access funds from an ATM
immediately without their debit card regardless of the reason they don’t
have it with them.”
If a member’s debit card is lost, stolen, breached, or simply left at
home, they can still withdraw cash by using a secure access code and PIN
at a participating ATM. For added security, VyStar Credit Union can set
withdrawal limits, number of transactions allowed and length of time the
access code can be used by each member.
“Today’s consumers have come to expect immediate, easy and secure access
to their money,” said Vincent Brennan, president, Card Services, Fiserv.
“Card replacement can take time, and wire transfers can be expensive.
Instant access to funds without a card helps financial institutions
improve service and security.”
Card-free cash withdrawals in the pilot are performed at acquiring
partner Payment Alliance International’s (PAI) participating ATMs and
completed over the Accel debit payments network.
“ATMs aren’t just for card-carrying consumers anymore,” said John J.
Leehy, III, president and chief executive officer of PAI. “PAI is
thrilled to partner with a debit payments industry leader like Fiserv to
deliver a unique solution that leverages the Accel network of ATMs,
where consumers can obtain cash at convenient, secure and card-free
access points across the United States.”
- For more information on Accel, visit www.accelnetwork.com
CardFree Cash will be featured during a Fiserv demo at FinovateFall,
Thurs., Sept. 17, 2015
Fiserv, Inc. (NASDAQ: FISV) enables clients to achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
business insights and optimization. For more than 30 years, Fiserv has
been a leader in financial services technology, and today is among
FORTUNE® magazine’s World’s Most Admired Companies and Forbes magazine’s
America’s Best Employers. For more information, visit www.fiserv.com.
About VyStar Credit Union
With assets of over $5.6 billion, VyStar Credit Union is headquartered
in Jacksonville, Fla. Established in 1952 with 12 members, the credit
union recently reached the 500,000-member mark. VyStar serves people
living or working in 17 counties of Northeast Florida through its 37
branches, 9 high school branches and 183 ATMs. For more information,
About Payment Alliance International
Payment Alliance International (PAI) is one of the nation’s largest
deployers of ATMs, provides ATM processing and maintenance services, ATM
equipment sales and support, and ATM branding programs. PAI also offers
comprehensive payment and small business solutions including credit,
debit and prepaid card acceptance services…all designed to maximize
customer success and make business easy. Payment Alliance International
is based in Louisville, Ky. For more information, please visit www.GoPAI.com
or follow us on Facebook and Twitter.
Elizabeth McMillan, APR
Director, Public Relations