Prepaid cards and mobile commerce -- two technologies driving financial institutions into an unchartered future where banking, as we know it, will be left in the dust, so to speak.
Fiserv, always ahead of the curve, has just introduced a new set of prepaid solutions. In short, the company is targeting large financial institutions and corporation, offering them prepaid processing, turnkey program management, and support of general-purpose reloadable and payroll cards.
This is being made possible by Fiserv's acquisition of Maverick Network Solutions, a Delaware-based provider of advanced prepaid and reward and incentive card programs. As the saying goes, why reinvent the wheel when it makes more sense to purchase existing technology.
On the mobile commerce front, Mitek Systems is making news with its Mobile ACH Enrollment solution, which allows mobile-payment companies to help consumers enroll their checking accounts as funding sources for mobile payments.
Consumers simply snap photos of blank checks with their smartphone cameras. Mitek's application captures all the information needed for enrolling their accounts.
If you want to stay up-to-date on the latest mobile happenings, mark your calendar. The 2nd Mobile Commerce Conference is being held June 20-22 in Denver. For more information, visit the conference website.