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Are You Processing Like It's 1999?

Multivendor card processing is one 20th century practice thats gone out of style for good reasons.

By Bill Prichard | Updated on July 14, 2015

Is it possible that your card processing operations evolved from a different era? If you work with multiple vendors for PIN and signature debit, credit and ATM processing, chances are good you’re ready for a retooling. Although your multivendor system may have enabled you to get to this point, centralizing your processing with a single vendor may offer significant advantages for the fast times ahead – including ease, value, opportunity and agility.

How did so many credit unions end up with multiple vendors?

“In many cases, credit unions didn’t have the option of choosing a single processor for debit, credit and ATM when they started those operations,” said Lynn Kneebone, national sales director at CO-OP Financial Services. For many, acquiring multiple processors was the only practical way forward. Now the options have changed, but many credit unions haven’t made a priority of streamlining their processing vendors.

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