Fiserv has announced a new mobile loading capability for prepaid cards, giving cardholders the ability to safely load immediate, guaranteed funds from a personal or business check using a smartphone’s camera.
“By combining industry-leading check capture technology with easy check guarantee and authentication processes, Fiserv helps prepaid card processors and program managers increase card load volume, and has the potential to retain and grow their customer base,” said Gary Brand, director, Source Capture Solutions, Fiserv. “The ability to easily load funds from a check to a card adds a great deal of convenience for the consumer, and can be a valuable addition to traditional banking. For prepaid processors that offer mobile loading, this can mean increased balances, transaction counts, volumes and customer retention rates.”
The guarantee is enabled by a new agreement between Fiserv and VALID Systems.