US-based McCoy Federal Credit Union (McCoy FCU) has chosen Vantiv, a provider of payment processing services, as its new payments processor.
As per the terms of the agreement, Vantiv will offer a complete suite of payment processing solutions including debit, ATM and full service credit card processing solutions.
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Leveraging Vantiv’s latest card payments and fraud solutions, including MobiMoney, the credit union will now provide an integrated debit and credit platform to its users.
Designed as a mobile app, MobiMoney gives members control of card functionality which helps in reducing fraud losses and safer spending habits.
Additionally, the app enables card members to turn cards on and off, and receive instant alerts on their mobile devices for all card activity.
Besides MobiMoney, the credit union members will also get enhanced security in OmniShield, a real time fraud detection product that works around the clock to reduce fraud losses.
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By GlobalDataMcCoy FCU vice president of lending Basil Buchanan said: “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.
“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. MobiMoney has all the features we needed, giving our members an improved way to fight fraud."
