Fiserv Rolling Out Prepaid Card Suite

BROOKFIELD, Wis. – Fiserv is rolling out a suite of prepaid gift cards just in time for the 2005 holiday shopping season. “Prepaid gift cards provide consumers with flexibility and choice and are a natural extension of our debit product line,” said Kevin Gregoire, executive vice president of Fiserv EFT. “The program truly is a winning proposition for both consumers and financial institutions: gift card buyers choose how much value to load onto a card and recipients use them like cash wherever debit cards are accepted at the point-of-sale, and banks and credit unions have an opportunity to establish new one-on-one relationships and connections with their customers,” he said. Fiserv EFT is a unit of Fiserv Inc that provides ATM and electronic funds transfer services to more than 2800 financial institutions. The new suite of cards is aimed at financial institutions of all sizes and includes an option through which credit unions could tailor cards and target them to individual SEGs . The “off the shelf” gift card program will provide a CU with cards within weeks. Fiserv said, and the cards arrive ready to market and with marketing ideas as well. Fiserv EFT will provide complete processing for the cards, including card fulfillment, authorization and settlement services, risk management and 24/7 customer service, Fiserv added.