BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), the leading global provider of financial services
technology solutions, announced today that it is once again expanding
its digital payment portfolio, which is the broadest in the industry, 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
Fiserv 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. The Delaware
start-up and its employees became part of the Fiserv Card Services group
on March 1, 2011.
Fiserv chose Maverick Network Solutions because of its robust, flexible
platform built to support all markets in the dynamic prepaid space. This
next generation of prepaid allows Fiserv to add 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. Fiserv intends to integrate a number of its leading products
and networks to create solutions that deliver differentiated and unique
value for our clients," said Rahul Gupta, president, Card Services,
Fiserv. "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. Adding a prepaid program can provide financial institutions a
way to add, or retain, customers in new segments that previously may not
have been served — a very attractive option for financial institutions
that have seen revenue pressures from interchange and overdraft
regulations in the past year.
Fiserv is a payments industry leader, processing nearly 9 billion
credit, debit and ATM card transactions, more than 1.4 billion online
bill pay transactions, and 1 out every 10 checks written each year.
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of
information management and electronic commerce systems for the financial
services industry, driving innovation that transforms experiences for
financial institutions and their customers. Fiserv is ranked No. 1 on
the FinTech 100 survey of top technology partners to the financial
services industry. For more information, visit www.fiserv.com.
Public Relations Manager
Vice President Investor Relations
Source: Fiserv, Inc.
News Provided by Acquire Media