SAN ANTONIO, Texas–SWIVEL, a provider of payment solutions and a subsidiary of SWBC, said it has introduced a new stored cards feature that enables a smoother, more convenient accountholder experience across all mobile and web devices.
According to the company, through SWIVEL Stored Cards registered account holders can securely save their card details and mark them as primary payment methods, “making transactions faster, reducing the need for repeated manual entry, and minimizing errors.”
In addition, the company said stored cards can be used as a primary payment method for payment reminder messages. This offers an even greater seamless experience for users while helping to lower payment abandonment and drive higher payment success rates for financial institutions.
For New & Existing Clients
SWIVEL said the new feature is available for both new and existing clients using SWIVEL’s Card Processing with quick and easy implementation at no additional cost to institutions.
“Handling up to five cards, stored cards will block duplicates and even notify users if a card is expired while disallowing it to be used for payments,” the company said. “The stored cards feature uses velocity monitoring to detect and block card testing, utilizing advanced encryptions and tokenization technology to secure and protect account holders’ sensitive information. This minimizes the risk of fraud while ensuring regulatory compliance.”
‘Much Faster & Secure’
“In today’s fast-paced digital world, consumers increasingly expect the same level of convenience with their banking as they experience in other areas of their lives, especially when it comes to payments,” President Amanda Crocker said in a statement. “With stored cards, our clients can now offer their registered account holders a much faster, more secure, seamless transaction process, boosting retention and providing a strong competitive advantage in a landscape which is influenced more and more by payments capabilities.
