Corserv provides turn-key credit card issuing programs enabling financial institutions of any size to issue competitive, bank-branded card products to their consumer, business, commercial, Government, and non-Profit customers. No one knows and can reach customers like their local bank can.
Financial institutions can participate safely and profitably in the credit card business, with minimal upfront cost or disruption.
Financial Institutions can select from a full-featured list of credit card products to provide to their customers, offering any or all of the credit card products at no additional setup cost from Corserv.
Corserv recently added Purchasing Cards (P-Cards) as a product for our Financial Institutions. Most organizations recognize that a large number of check payments are made for low-value items to a large number of suppliers—a costly, inefficient process. When the payment method is switched from the traditional process to a Purchasing Card process, efficiency savings range from 55% to 80% of the traditional process cost. Per an NAPCP evaluation, typical savings resulting from P-Card usage are $63 per transaction. Purchasing Cards (P-Cards) or non-plastic account numbers are issued to employees (i.e., cardholders) responsible for making purchases or payments on behalf of their employer; for example, cardholders can order and pay for office supplies via a supplier’s website. Suppliers accept P-Cards for payment, utilizing the existing credit card infrastructure for payment processing. Corserv’s P-Card solution allows for individual employee limits and consolidated statements and payment for the P-Card.
In addition to traditionally issued credit cards, Corserv can support virtual cards for one-time or limited use, including real-time authorization. Virtual cards have uses, such as for 1) ePayables to reduce payment processing costs with suppliers while improving cash flow, 2) real-time credit for larger transactions such as doctor’s services, or 3) secure one-time online shopping purchases. Corserv supports “apply and buy” for real-time Point-of-Sale underwriting using a virtual card solution.
Current Credit Card Products
Below are details of the current credit card products offered from Corserv. These card products are full-featured and competitive with those offered by leading credit card issuers.
Credit Card Program Product Matrix