Ties mobile banking and payments services to prepaid cards
JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE:FIS), one of the world’s largest providers of banking and payments technology, today announced that U.S. Bank is using FIS’ mobile platform to launch mobile financial services for the U.S. Bank AccelaPay® Visa prepaid card program. Through this innovative combination, AccelaPay cardholders can use their mobile phones, including BlackBerrys and iPhones, to check their account balance, pay bills, receive account alerts and view mini-statements.
“By enabling this customer segment to conduct financial services via their mobile phones, the financial institution will benefit from strengthened relationships and ultimately a stronger revenue stream.”
The AccelaPay card is a prepaid card that functions as a traditional bank account allowing users to make deposits and pay bills. Research has shown that consumers are more likely to have a mobile phone than a PC. Adding mobile access to their primary financial vehicle will help to create a tighter bond between U.S. Bank and this customer segment.
"We are pleased to introduce AccelaPay for mobile banking, the first full-suite mobile banking solution with bill pay capabilities in the prepaid marketplace," said Dominic Venturo, chief innovation officer for Retail Payment Solutions, U.S. Bank. "As an early adopter of mobile banking in the payments space, U.S. Bank is committed to investing in new technologies to better serve our customers."
"Early on, FIS recognized the need to offer a comprehensive suite of mobile banking and payment options for the growing prepaid card market," said Frank D’Angelo, executive vice president, FIS Payment Solutions. "By enabling this customer segment to conduct financial services via their mobile phones, the financial institution will benefit from strengthened relationships and ultimately a stronger revenue stream."
The U.S. Bank AccelaPay Visa is a prepaid, reloadable card designed to replace costly paper checks for businesses with recurring cash disbursement activities, such as payroll, commissions, travel advances and insurance claim distributions. Cardholders can use the AccelaPay Visa® card everywhere Visa debit cards are accepted worldwide. Visit http://www.usbank.com/accelapayvisafor details.
U.S. Bancorp, with $291 billion in assets as of Sept. 30, 2010, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,013 banking offices in 24 states and 5,323 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
FIS (NYSE: FIS) is one of the world’s largest global providers dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list. For more information about FIS, visit www.fisglobal.com.
