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Centra Credit Union launches SpotPay mobile payment solution
COLUMBUS, IN (September 24, 2013) — Centra Credit Union is now offering SpotPay™, a mobile payments solution for small businesses that enables merchants to accept card payments anywhere, anytime. Using SpotPay, merchants are able to swipe credit and debit cards with their smartphone or tablet to accept payments. And, a key differentiator, SpotPay will also offer merchants the ability to deposit checks using a mobile remote deposit capture feature that allows users to securely take a picture of the front and back of a check and deposit the item electronically. With SpotPay, Centra Credit Union’s small business members will have a secure, convenient and low-cost solution to collect credit and debit card payments as well as to remotely deposit checks.
“The ability to pay anyone, anytime, anywhere is revolutionizing commerce as we know it,” said Karl Kissinger, Vice President of Business Services at Centra. “We’re pleased that Centra Credit Union is a part of this revolution. SpotPay is an innovative tool that helps deliver anytime, anywhere commerce while deepening our relationships with our business members.” According to a March 2012 survey conducted by Phoenix Marketing International, 30 percent of surveyed small businesses that have under $1 million in annual sales indicated they would like to use their smartphone or tablet to receive and process debit or credit card payments from their customers if the service were available.
The SpotPay solution helps small businesses and merchants do more business by accepting all types of payments. SpotPay has a rugged design and a long swipe path to reliably read track one, two and three data from cards. The solution has strong fraud prevention tools and makes card transactions easy to accept with security designed to decline counterfeit cards. SpotPay users also get multi-layered security that protects sensitive card data from the point of swipe. The SpotPay solution surpasses the Payment Card Industry Data Security Standard (PCI DSS) by leveraging a secure, cloud-based gateway and card authentication process. The SpotPay secure card readers work with iOS and Android™ mobile devices. SpotPay is made available through Fiserv, Inc., a leading global technology provider serving the financial services industry.
For more information, call 800-232-3642, option 4.
About Centra Credit Union
Centra is a community-based, full-service financial institution, serving multiple communities throughout central and southern Indiana, as well as locations in Jamestown, New York and Whitakers, North Carolina. Centra also is part of two nationwide networks: CU Service Centers, which provides an additional 5,000 branch locations throughout the United States – including nearly 200 branches in Indiana, and the CO-OP ATM Network, which provides free access to 30,000 ATMs in the U.S. and Canada. Founded in 1940, Centra provides financial accessibility, affordability, and education for more than 127,000 members through a full range of banking services that include Savings and Checking options, Auto Loans, Mortgage Loans, Credit Cards, Business Loans and Deposits, as well as Financial Management Services. With $1.2 billion in total assets, Centra is the third largest credit union in the state of Indiana and has earned a 5-Star financial rating by Bauer Financial, Inc. – the nation’s leading independent bank and credit union rating and research firm – for 73 consecutive quarters. Centra operates under the member promise of “Centered Around You.”