Fiserv, the financial services technology company, announced news on Wednesday (Jan. 31) that its Accel debit payments network has expanded its routing options.
In a press release, Fiserv said the expanded routing options are for online and brick-and-mortar transactions, giving merchants more flexibility and offering more convenience for customers. As of April of this year, Fiserv also said cardholder signatures for transactions via Accel will be optional. According to Fiserv, Accel is one of the few networks in the U.S. that offer dual and single message support. With the expansion, customers get more routing choices for all transaction types.
“Backed by the power of Fiserv, Accel’s strong growth is founded in enabling convenient, secure, real-time cardholder transactions,” said David Keenan, SVP, Card Products, Fiserv in the press release. “We are committed to helping financial institutions and merchants deliver the experiences and services consumers want, including point-of-sale programs for PIN and PIN-less debit, cardless options at point-of-sale and ATM, eCommerce and mobile payments to generate deeper engagement, stronger loyalty and a competitive edge.”
Fiserv said merchants that recently added the Accel signature debit service include Walmart. Mike Cook, senior vice president and assistant treasurer at Walmart, said in the press release that customers won’t see any difference when they check out, but for Walmart it will result in cost-savings from additional routing options.
The expansion of routing options is just the latest in a laundry list of developments out of Fiserv in recent months. In December, the company announced that five credit unions (CUs) are using its DNA from Fiserv offering, an open architecture account processing platform built on modern technologies combined with a variety of integrated surround solutions.
In a press release, Fiserv said the technology will enable CUs to enhance operational efficiency, create distinctive and unified member experiences across both digital and physical channels and align future growth with changing member needs. Credit unions using the technology include Alliance Credit Union, Clark County Credit Union, Community First Credit Union, Empower Federal Credit Union and OneAZ Credit Union.