CINCINNATI–Vantiv, a provider of payment processing services and related technology solutions, said it has been selected by McCoy FCU, Orlando, as its payments processor.
"Vantiv is a payments technology leader with a full range of solutions for our members," said Basil Buchanan, vice president of lending at McCoy FCU, in a related statement. "The reason we partnered with Vantiv is simple, they have the technology and the view into everyday spend of our cardholders, which can help us to better serve our 60,000 members."
Vantiv said it will now work with McCoy FCU to provide an integrated debit and credit platform and a new way to combat fraud: MobiMoney. MobiMoney is a mobile app that gives members control of card functionality resulting in lower fraud losses and safer spending habits. The app allows cardholders to turn cards on and off, and receive instant alerts on their mobile devices for all card activity. The app can help build trust and increase card usage by giving cardholders the control and instant access they desire.
"We wanted a mobile app to provide our members increased security and more control over their money, and Vantiv had an excellent one ready to go," added Buchanan. "MobiMoney has all the features we needed, giving our members an improved way to fight fraud."
Under the agreement, Vantiv will provide a comprehensive suite of payment processing solutions including debit, ATM and full service credit card processing solutions. In addition to MobiMoney, members will also have enhanced security in OmniShield, a real time fraud detection product that works around the clock to minimize fraud losses.
"When we talked to McCoy, one of their goals was to enroll more members and increase the credit union's wallet share," said Bill Hampton, senior vice president and general manager of financial institution services at Vantiv. "Through our partnership we will provide McCoy with the innovations, technology and resources necessary to help them become the preferred, top of wallet choice for more of their members."