A Look at Whats New: Fiserv Is Teaming Up With Pay By Touch
Fiserv has signed with Pay By Touch to have its ACCEL/Exchange EFT Network be the first electronic funds network to allow PIN-based debit transactions over the Internet.
Pay by Touch's ATM Direct solution allows PIN-based debit transactions to be processed over the Internet across EFT networks directly to a consumer's credit union or bank, allowing real-time payments to retailers at lower transaction costs than those associated with credit card or signature debit transactions over the Internet.
The Fiserv deal is the first in the planned market wide roll-out by Pay By Touch, the market leader in biometric payment systems. ACCEL/Exchange provides EFT services to more than 3,500 credit unions and banks.
Separately, Fiserv will team with Communication Intelligence Corp. to allow credit union customers of its IntegraSys unit to offer electronic signature services for users of its Premier core processing system.
The addition of CIC's "Sign-it" system will allow credit unions to offer their members maximum transaction integrity and evidence for non-repudiation.
Sign-it provides both biometric handwritten signatures, as well as the ability for the credit union to deliver the e-signature process with alternative signature technologies, like click-wrap, passwords, voice, fingerprint and PKI through a common product. CIC is based in Redwood Shores, Calif.