BROOKFIELD, Wis.—Fiserv said it is now offering “programable payments capabilities.”
“Programmable payments are particularly well suited to how consumers pay today, allowing cardholders to link multiple funding sources to a single payment card and prioritize a specific funding source based on the type of payment transaction,” the company stated.
Funding sources may include a demand deposit account, health savings account, rewards points, cryptocurrency, or a line of credit, among others, Fiserv said, adding that financial institutions and fintechs can further differentiate their card programs and add more value for their cardholders by choosing from a marketplace of capabilities, such as financial wellness tools, buy-now-pay-later options and rewards.
“Programmable payments allow for flexible configurations, which enable our clients to deliver the personalized payment experiences consumers are looking for,” said Sunil Sachdev, head of fintech and growth at Fiserv. “These modern capabilities will give card issuers the ability to design cards with truly distinctive features that can launch in days, with built-in intelligence like delegated authorization and just-in-time funding.”
Layered Onto Existing Program
Programmable payments capabilities can be layered onto an existing card program without the need to issue new cards. Cardholders will designate how various transactions should be routed for payment.
“A tap of the card at a local restaurant can be funded by the cardholder’s rewards account, while the swipe at the pharmacy is funded from their HAS,” Fiserv said. “In addition, cardholders will have a set amount of time post-purchase to designate which funding source they would like the transaction settled against, in the event they want to change a pre-programmed designation.
The Very Best in CU Reporting. Every Morning. At a Price Every CFO Will Love
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.