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PCM Credit Union Empowers Members with CardValet from Fiserv for Safer Holiday Shopping with Less Worry

December 10, 2015

  • Cardholders take control of how, when and where their cards are used
  • Improved usability allows shared card users to register the same card
  • Multiple location policies can now be set for the same card

BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that PCM Credit Union, based in Green Bay, Wisconsin, is continuing to experience increased member adoption of CardValet® from Fiserv as the start of the holiday shopping season begins. The CardValet mobile app provides users with greater protection from debit card fraud, allowing them greater control of their cards at the touch of a button.

PCM, a $195 million asset credit union leveraging the CUSA® core platform from Fiserv, selected CardValet so that its more than 11,000 members are able to define when, where and how their payment cards are used. CardValet allows users to set easy "on/off" controls. When the card is "on," members can make purchases according to their usage preferences, and when the card is "off," no transactions are approved. This control is especially useful when cards are not in use or have been lost or stolen. Members can restrict types of purchases, set spending caps and limit the geographical area where the card can be used - all through their mobile devices.

"We are providing CardValet to our membership, so they have even more ways to make decisions about how they want to use their debit cards," said Cathy Becks, PCM Credit Union Executive Vice President. "If you know you won't use your card for big purchases you can set a threshold limit, meaning your card will be declined for any transaction over that amount. If you change your mind, you simply log in from your mobile device and change the threshold amount in store to make the purchase."

CardValet has been in-market and available for a year, and Fiserv has recently introduced enhanced product features, making the app even more user-friendly. The enhancements include a more contemporary look and feel to the app, easier navigation, and faster screen loads. In addition, where a card number could previously only be registered by one user, joint account owners who share a card can now register the same card number and set multiple location policies, allowing the card to work in different locations where authorized users may be based. Users will also now see a cumulative total of monthly spending on their registered cards.

"Our original vision for CardValet was to help our clients and their cardholders mitigate fraud from lost or stolen cards, and the app has certainly succeeded with that goal. But the app has also evolved to allow cardholders to better control their personal finances, including through important joint account and dependent scenarios," said Vinnie Brennan, president, Card Services, Fiserv. "PCM Credit Union and its members using CardValet are finding the app is ideal for keeping them in charge of when, where and how their money is spent."

Approximately 200 financial institutions across the United States currently offer CardValet, and the technology is becoming a standard service for financial institutions. The mobile application is available to download free from the Apple App Store or Google Play Store for members at credit unions and customers at banks that offer the service.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today - financial services at the speed of life. Learn more at TheSpeedofLife.com.

Additional Resources:

About PCM Credit Union

PCM Credit Union is a not-for-profit, federally insured financial institution with assets of $195 million and over 11,000 members. PCMCU membership is available to Select Employee Groups and their families. For more information, visit www.pcmcu.org.

About Fiserv

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.

FISV-G

Media Relations:
Elizabeth McMillan, APR
Director, Corporate Communications
Fiserv, Inc.
678-231-3443
elizabeth.mcmillan@fiserv.com
or
Additional Contact:
Mark Jelfs
PR Manager
Fiserv, Inc.
262-879-5930
mark.jelfs@fiserv.com

Source: Fiserv, Inc.

News Provided by Acquire Media

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