USAlliance Financial has selected FIS’s Payments One to modernise its credit and debit card processing.
The Rye, NY-based credit union manages more than $2 billion in assets for over 125,000 members.
USAlliance will manage its portfolio of card processing solutions, loyalty, fraud protection, card production and other payments functionality on the new consolidated platform.
As consumers shift more of their spending online, the credit union also expects to use the digital capabilities of Payments One as well as technology such tokenisation and self-service controls for cardholders.
A survey earlier this year by FIS and PACE found that up to 15% of US credit union members do not hold cards, representing a significant opportunity for growth.
Kevin Randall, EVP at USAlliance, says that as it sought to enhance card offerings to its clients and cardholders it was attracted by the “simplicity, flexibility and advanced digital features” of the FIS offering.
It will provide a 360-degree view of credit, debit and ATM card transactions from initiation to authorisation and settlement as well as security features to try to minimise chargebacks and fraud.
USAlliance will also be able to tap into FIS’s marketing and advisory services, which gives financial institutions the ability to create and drive marketing strategies using insights from card portfolio data.
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