Cardless Access to Cash Now Available Via Nearly Two Thousand Financial Institutions’ Card Control Apps
Texas Bay Credit Union among the first to offer enhanced mobile card management solution
BROOKFIELD, Wis., February 3, 2021– Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that it is expanding access to card-free ATM withdrawals for consumers across the country. CardFree CashSM, which enables consumers to use their mobile device to securely access their accounts, is now accessible via the popular CardValet® mobile app and available on Diebold Nixdorf and NCR ATMs driven by Fiserv.
Now, consumers can use their mobile devices to generate a secure access code and withdraw cash at any of more than 30,000 convenient CardFree Cash-enabled ATMs across the country. While particularly useful when waiting for a lost or stolen card to be replaced, this capability also meets the expectations of consumers who want to manage their finances from their mobile devices.
CardValet users can use the geolocation feature within the app to locate CardFree Cash-enabled ATMs, complementing the card management capabilities of CardValet. CardValet, a digital hub for all card-related activity, offers real-time alerts for PIN and signature transactions performed with debit and credit cards, enabling cardholders to manage, track and report specific types of transactions and quickly detect unauthorized activity directly in the app. Cardholders can customize their experience by setting alerts and controls for locations, merchants and spending thresholds, and a lost or stolen card can be quickly disabled at the touch of a button.
Texas Bay Credit Union, with assets of $540 million and based in Houston, will become one of the first financial institutions to offer CardFree Cash via CardValet. Texas Bay wanted to provide its members with a practical solution that aligns to their growing affinity for mobile solutions.
“Texas Bay Credit Union is changing the way people feel about using mobile technology to build first-class experiences that suit our members,” said Syed Dinar, EVP and Chief Financial Officer at Texas Bay Credit Union. “Fiserv is a key component of this strategy, delivering technology that empowers our members to not only define when, where and how their cards are used, but also to improve the way they access their money in the digital age.”
Fiserv research found that a majority of consumers now prefer to interact with their primary financial services provider via digital channels (either online or mobile). And consumers increasingly expect card-free ATM access, and 54 percent of consumers stated that one of the key drivers of trust in their financial institution is the ability to make cash withdrawals easily, based on findings by Diebold Nixdorf.
“Today’s consumers are tech savvy, and losing or forgetting a card should not prevent them from accessing cash, particularly in an urgent situation,” said David Keenan, Senior Vice President, Product Management, Card Services at Fiserv. “Financial institutions like Texas Bay Credit Union are keeping pace with people's expectations and can strengthen member loyalty as a result of adding appealing mobile-based capabilities.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
About Texas Bay Credit Union
The vision of Texas Bay Credit Union is to distinctively stand out as a leading financial institution in their market area by listening to their members’ financial needs and by being the trusted partner in finding the right solution to accomplish them. Texas Bay was chartered in 1936 as Houston Sinclair Refinery Employees’ Federal Credit Union. Although its name has changed over the years, the $540 million credit union has continued to effectively serve its members. Today, Texas Bay carries out its mission by serving more than 48,000 members and operating nine full-service branches in the Houston metropolitan area.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
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