JACKSONVILLE, Fla.–VyStar CU here said it has completed a successful pilot in conjunction with Fiserv of a test of card-free access to cash at participating ATMs with CardFree Cash from Fiserv.
Under the program, should a member’s debit card be lost, stolen, breached, or simply left at home, they can still withdraw cash by using a secure access code and PIN at a participating ATM. For added security, VyStar Credit Union said it can set withdrawal limits, number of transactions allowed and length of time the access code can be used by each member.
“With CardFree Cash, our members can securely access funds from an ATM immediately without their debit card regardless of the reason they don’t have it with them,” said Melissa Thomas, vice president, Electronic Payments and Card Services with the $5.6-billion VyStar CU.
Card-free cash withdrawals in the pilot are performed at acquiring partner Payment Alliance International’s (PAI) participating ATMs and completed over the Accel debit payments network.
“Today’s consumers have come to expect immediate, easy and secure access to their money,” said Vincent Brennan, president, card services, Fiserv. “Card replacement can take time, and wire transfers can be expensive. Instant access to funds without a card helps financial institutions improve service and security.”