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As you may have heard in the news or experienced firsthand, there is currently a chip shortage that is significantly extending the time it takes for members to receive a new credit or debit card. What used to take days now can take weeks or months. Fortunately, there are ways to overcome this challenge… Read more »
Topic: Payments
Intro to Interchange
How well do you understand interchange? Credit unions gain revenue from interchange income, but this a very complex payments function that often is not fully understood. “Many credit unions are experiencing increased sales volume but are seeing reduced interchange income and don’t understand why,” said Corinne Sherman, Vice President of Payment Sales and Consulting at… Read more »
5 Ways to Prevent BIN Attacks
Along with the convenience of making purchases online comes eCommerce fraud. Unfortunately, the United States leads the world in this type of fraud, representing 33.6% of global losses in 2019 alone. Global losses are projected to increase to $38.5 billion by 2027. “Preventing fraud at the credit union level, before the member is impacted directly,… Read more »
What You Need to Know: Reg II Changes
Regulation II impacts every financial institution in the United States. While it was enacted to prevent debit transaction interchange fees from being unreasonable, it has had a significant impact on those who rely on interchange income as part of their revenue. On July 1, changes will go into effect that require issuers to use two… Read more »
Card Skimming Fraud Scheme Update
Protecting your credit union and your members from fraud is one of Synergent’s highest priorities. As part of our efforts and when appropriate, we work closely with law enforcement officers to aid in active investigations involving fraud. In 2019, card skimming devices were placed in gas pumps at stations across New England. The skimmers used technology that was so advanced… Read more »
2022 Retrospective: Connecting People With Solutions
It’s always been about your members. At the heart of everything Synergent does, every solution we provide, and every product we roll out, it is about ensuring your members have a positive, modern, seamless experience at your credit union. This is accomplished by ensuring your credit union and your staff have the tools they need… Read more »
Palisades Credit Union Expands Partnership with Synergent® for Zelle®
Synergent® is pleased to announce that Palisades Credit Union has expanded its partnership with Synergent by launching Zelle®. This is Synergent’s first credit union client to go live with this Peer-to-Peer payments solution, which falls under the Jack Henry™ PayCenter faster payments umbrella. Alongside Zelle®, Palisades Credit Union already partners with Synergent for integrated credit… Read more »
MoneyPass
The MoneyPass National Surcharge Free Network is a nationwide ATM network that provides cardholders with fee-free access to over 40,000 ATM terminals. Members expect convenience and want to be able to access their funds anytime, anywhere. Easily locating a fee-free Automated Teller Machine (ATM) is a significant value-add for your members. Don’t miss out on… Read more »
CardHub
CardHub is a next-generation digital platform that provides cardholders the ability to digitally manage their cards and see spending trends through a single web or mobile banking app. Great digital experiences drive cardholder activity. Putting the power to do more instantly in the hands of members increases card usage. With digital wallet spend projected to… Read more »
The RTP Network and RTP Receive
The RTP Network enables credit unions to offer immediate payment services for all types of transactions. Falling under the JHA PayCenter umbrella that connects credit unions to Faster Payments, the RTP Network serves account-to-account(A2A), business-to-consumer (B2C), consumer-to-business (C2B), and business-to-business (B2B) members. RTP®. Powering Smarter Payments. The term “Faster Payments” has quickly become familiar within… Read more »
