CINCINNATI, Oct. 4, 2016 /PRNewswire/ -- Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that it has been selected by McCoy Federal Credit Union, one of the largest credit unions in Central Florida with assets of more half a billion dollars, as its payments processor.
"Vantiv is a payments technology leader with a full range of solutions for our members," said Basil Buchanan, vice president of lending at McCoy FCU. "The reason we partnered with Vantiv is simple, they have the technology and the view into everyday spend of our cardholders, which can help us to better serve our 60,000 members."
Through Vantiv, the credit union will now provide an integrated debit and credit platform and a new way to combat fraud: MobiMoney. MobiMoney is a mobile app that gives members control of card functionality resulting in lower fraud losses and safer spending habits. The app allows cardholders to turn cards on and off, and receive instant alerts on their mobile devices for all card activity. The app can help build trust and increase card usage by giving cardholders the control and instant access they desire.
"We wanted a mobile app to provide our members increased security and more control over their money, and Vantiv had an excellent one ready to go," added Buchanan. "MobiMoney has all the features we needed, giving our members an improved way to fight fraud."
Under the agreement, Vantiv will provide a comprehensive suite of payment processing solutions including debit, ATM and full service credit card processing solutions. In addition to MobiMoney, members will also have enhanced security in OmniShield, a real time fraud detection product that works around the clock to minimize fraud losses.
"When we talked to McCoy, one of their goals was to enroll more members and increase the credit union's wallet share," said Bill Hampton, senior vice president and general manager of financial institution services at Vantiv. "Through our partnership we will provide McCoy with the innovations, technology and resources necessary to help them become the preferred, top of wallet choice for more of their members."
ABOUT MCCOY FEDERAL CREDIT UNION
Headquartered in Orlando, FL, McCoy Federal Credit Union is one of the largest credit unions in Central Florida with over 61,000 members, assets over $530 million and 14 locations. McCoy is a full-service financial cooperative, assisting consumers and small business owners with achieving their financial goals since 1954. Their focus is to serve their members with all of their financial needs. McCoy Federal has a variety of financial products and services including: checking accounts, savings accounts, credit cards, new and used auto loans, mortgages, home equity lines of credit, business loans, and more. Visit http://www.mccoyfcu.org/ and learn more.
Vantiv, Inc. (NYSE: VNTV) is a leading payment processor differentiated by an integrated technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the second largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank. Visit us at www.vantiv.com, or follow us on Twitter, Facebook, LinkedIn, Google+ and YouTube.
© 2016 Vantiv, LLC. All Rights Reserved. All trademarks, service marks and trade names referenced herein are the property of their respective owners. Vantiv and other Vantiv products and services mentioned herein as well as their respective logos are registered trademarks or trademarks of Vantiv, LLC in the U.S. and other countries.
Director, Public Relations
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SOURCE Vantiv, Inc.