Financial services provider Jack Henry & Associates has expanded its credit and debit card processing platform to clients through an agreement with payments technology provider First Data and PSCU.
Through the agreement, JHA Card Processing Solutions Group will provide credit, debit and ATM card processing, as well as enhanced data analytics, dashboards and fraud monitoring. The group will also offer rewards and loyalty programs and access to First Data's Star Network.
The new combined services allow Jack Henry & Associates to provide full-service credit and debit card processing to all existing core bank and credit union clients on a single platform, as well as expand its card processing platform to financial institutions outside the JHA core client base.
“This agreement demonstrates our commitment to developing sound relationships that keep our clients competitive and their cardholders happy," David Foss, president and CEO of JHA, said in a May 4 press release.
First Data and PSCU represent the "partners we want as we invest in the future of our credit and debit card platforms," Foss added.
As part of the agreement, First Data's commerce-enabling technology will enhance the JHA Card Processing Solutions suite through a consolidated debit and credit processing platform that includes card personalization and mailing services.
“Over the past several years, First Data has invested in building out our enterprise solutions for financial institutions, and this strategic partnership allows us to deliver innovative tools to an expanded portfolio of financial institutions and Star Network clients,” Frank Bisignano, chairman and CEO of First Data, said in the release.
PSCU will also provide card processing services and expand Jack Henry & Associates’ suite through enhanced data analytics, fraud protection and monitoring, consumer loyalty products, and an enhanced centralized back-office management portal.