BROOKFIELD, Wis. (3/8/13)--Fiserv, a global provider of financial services technology solutions, announced a new website for small businesses to learn more about and enroll in SpotPay, its recently launched mobile card reader and remote check-deposit solution.
SpotPay helps financial institutions offer their small business account holders an anywhere, anytime mobile solution to accept both card and check payments from a smart phone with the SpotPay reader.
Small businesses that enroll on the website will automatically be matched to their participating financial institution. The financial institution will receive all the benefits of the enrollment, including co-branding and incentives.
SpotPay from Fiserv is available to financial institutions that are part of the ACCEL/Exchange payments network. Using SpotPay, merchants are able to swipe credit, debit and prepaid cards with their mobile device to accept payments. Merchants can deposit checks using a mobile remote deposit capture feature that allows users to take a picture of the front and back of a check and deposit the item electronically.
Credit unions offer a number of services to members with small business, including accounts and member business loans.
Credit unions, the leagues and the Credit Union National Association are urging Congress to help credit unions make even more business loans by raising their member business lending cap to 27.5% of assets, up from 12.25%. Doing so would help boost the economy by generating $14.5 billion in new loans and 158,000 new jobs, says CUNA, with no cost to taxpayers. Raising the MBL cap is one of CUNA's top priorities for 2013.