TALLAHASSEE, Fla. (3/25/10)--Credit Union 24, a credit union-owned ATM and point-of-sale (POS) network, now supports PINless bill payment transactions for participating credit unions' members. The service provides credit unions the tools to deliver a payment system without implementing new or altering existing processing systems. PINless bill payment transactions allow members to pay bills using their ATM or debit card without having to enter their personal identification number (PIN). It works with one-time or recurring payments. Cardholders set up the transactions with their merchants via the Internet, telephone or an in-person representative. Credit Union 24's support routes the transactions to the credit unions' existing processor for approval. "Credit Union 24's support of PINless bill payment transactions is automatic," said President/CEO Jim Park. "Credit unions do not have to change anything about their current processing platforms or operating procedures; they can simply inform their members about this available technology," he added. PINless transactions are processed the same way as standard POS transactions, providing an additional revenue stream for credit unions. Park said credit unions can generate increased interchange income by encouraging members to use the PINless method while simultaneously reducing back office expenses of processing check and automated clearing house (ACH) returns. Credit Union 24 also offers marketing materials about the service.
ONTARIO, Calif. (3/25/10)--Financial Service Centers Cooperative Inc. (FSCC), the Shared Branching Network, Wednesday launched its new credit union Shared Branching locator application on iTunes. The free application is available to download and offers more than 6,400 locations to perform Shared Branching transactions. The application features the familiar swirl logo representing CU Service Centers so members know the application is authentic. The application already has generated more than 1,000 downloads and more than 3,000 searches since it was announced on Twitter last week, according to the FSCC network. It currently ranks No. 73 in the top 100 free financial services applications and is the only credit union-specific application appearing in the top 100 rankings on iTunes. Credit unions participating in Shared Branching can add a link and icon to their website so members can easily download the application.