SAN
ANTONIO, July 25, 2024 /PRNewswire/ -- SWIVEL,
a transaction enablement fintech that removes friction in the
movement of money for financial institutions and other payment
communities, announced today its integration with Apple
Pay® that enables its credit union and community bank
clients to accept loan payments from members and customers through
the mobile wallet.
The whole idea of digital wallet technology
is to provide a frictionless, easier payment experience for
consumers.
Within financial services, there exists a requirement in which
institutions will not accept certain forms of payment (such as a
credit card) against a consumer loan or auto loan. SWIVEL's
integration with Apple Pay is unique in that it features a
proactive capability that automatically filters cards loaded within
a consumer's Apple Pay wallet and presents only the cards that can
be used as acceptable payment options for an individual loan. This
is strategically beneficial for credit unions and banks as it
improves the customer experience by streamlining the loan payment
process while improving the performance of payment reminders sent
to customers through the mobile channel.
"The whole idea of digital wallet technology is to provide a
frictionless, easier payment experience for consumers, but too
often the opposite is the case when non-accepted payment options
are presented to the consumer," said Jason
O'Brien, CEO of SWIVEL. "With our innovative Apple Pay
integration, we are solving that problem for the financial
institutions we serve, supporting better digital banking
experiences for their customers and driving better loan payment
performance through the channel."
Leveraging the Apple Pay software development kit (SDK), SWIVEL
developed its Apple Pay capabilities to support credit union and
bank partners' needs, with the Apple Pay integration now available
to SWIVEL's more than 800 financial institution clients across the
U.S.
About SWIVEL
SWIVEL is a financial technology
and services company providing specialized, integrated transaction
enablement solutions that remove friction for account holders,
borrowers, and departments across financial institutions, as well
as collections agencies and offices, while also mitigating risks
associated with payments processing in the digital environment and
moving funds in digital domains. The company is a wholly owned
subsidiary of SWBC, headquartered in San Antonio, Texas. For more information about
SWIVEL and its innovative solutions,
visit www.getswivel.io.
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SOURCE SWBC