Read further to learn how On-Demand can be used to support a variety of applications. On-Demand solutions provide the benefit of real-time processing, expense reductions and new income opportunities for all NYCE participants.
NYCE’s On-Demand Payment Solutions are a comprehensive family of card-not-present transactions that facilitate the digitization of payments generally performed with checks or ACH.
These solutions provide issuers with the benefits of real-time processing, cost reductions and even new income opportunities. On-Demand transactions have been in place for more than a decade, and all issuer processors are fully certified.
NYCE’s Account Authentication service enables financial institutions acquiring new customers to verify that the individuals actually own the accounts from which they would like to fund their new accounts. Utilizing NYCE credit payment (PINless) transactions, the acquiring institution simply transmits low dollar value credits. The cardholder then confirms the amounts received via online banking or VRU account access. Visit Account Authentication for more information.
Account Funding offers cardholders the ability to make real-time funds transfers to and from accounts held at financial institutions, brokerages, mobile services providers and stored value accounts. Account Funding can improve your new checking and savings account application completion rate through same session real-time funding, maximizing the return on your new account procurement investments. Funds movement can be initiated via the web, VRU and mobile channels.
A2A enables a cardholder to transfer funds between accounts held at different financial institutions, where the cardholder has legitimate access to both accounts. Prepaid and other stored value accounts can also be supported with A2A.
P2P enables one cardholder to transfer funds to another cardholder. NYCE financial institutions can easily integrate with the FIS™ People Pay service. Pay anyone anytime using your financial institution’s online banking services.
B2C enables businesses approved by NYCE to send online credit payments to your cardholders. Applications include insurance disbursements, loan proceeds, consumer rebates and regulated lottery winnings. Eligible loan disbursements include credit card cash advances, secured/unsecured credit lines, auto loans and tax refund anticipation loans.
Contact us for more information about On-Demand Solutions and how they can benefit your institution.
NYCE Direct Bill Payment makes it easy for your cardholders to pay many of their regular bills in real time without a PIN using their NYCE debit cards. Your customers can make just-in-time payments for many types of billers, including cable and Internet services, digital media subscriptions, education expenses, electricity, fuel, home security, insurance, loans, medical services, government agencies, pest control, prescription refills, rent, satellite TV and radio, storage services, telephone – including landline, wireless and prepaid phone services – waste disposal, water suppliers and even monthly transit passes.
Customers simply communicate directly with eligible billers through a Web site or telephone to conduct confidential, secure, and virtually immediate real-time bill payments. Visit Direct Bill Payments for more information.
NYCE’s rebates and refunds transactions offer merchants the ability to rebate or refund an entire or partial debit bill payment amount. This alternative automates what is often a slower, manual and expensive process and provides cardholders a real-time credit payment transaction, resulting in a faster return of their money and peace of mind that they have received the funds that they expect.