MONETT, Mo., – Jack Henry & Associates said it has entered into a strategic services agreement with First Data and PSCU to further expand the credit and debit card platform offered to financial institutions by its JHA Card Processing Solutions group.
“Jack Henry & Associates has provided competitive card processing products and services for more than 25 years and continually seeks new ways to enhance its systems to better meet the demands of its client base and consumers,” the company said in a statement. “Through this agreement with First Data and PSCU, Jack Henry & Associates will further enhance the capabilities of its card platform by providing credit, debit, and ATM card processing; enhanced data analytics; sophisticated dashboards; enhanced fraud monitoring; flexible rewards and loyalty programs; access to the preferred STAR Network; and other features. The new combined services will allow Jack Henry & Associates to provide full-service credit and debit card processing to all existing core bank and credit union clients on a single platform, as well as expand its card processing platform to financial institutions outside the JHA core client base.”
As part of the agreement, First Data will enhance the JHA Card Processing Solutions suite. “Backed by its expertise as a technology partner to more than 4,000 financial institutions, First Data will provide JHA Card Processing Solutions with a consolidated platform for debit and credit processing, fraud detection, risk management, card personalization and mailing services, and automation tools,” the company said. “Additionally, Jack Henry & Associates will become a referral partner for First Data’s STAR Network, one of the leading debit networks in the United States.
PSCU will provide card processing services and expand Jack Henry & Associates’ suite by providing enhanced data analytics, fraud protection and monitoring, consumer loyalty products, and an enhanced centralized back office management portal allowing institutions to drive operational efficiency. The relationship will facilitate deeper product and core integration than what is already in place between Jack Henry & Associates and PSCU, as well as the co-development of technology for a more streamlined user experience, the company said.
“PSCU is looking forward to working with JHA Card Processing Solutions to help them deliver a best-in-class user experience to their clients using PSCU’s industry-leading solutions,” said Chuck Fagan, PSCU President and CEO. “This collaboration adds scale and synergies that will benefit Jack Henry & Associates’ payments clients.”