Fiserv Helps FIs Accelerate Small Business Awareness of Merchant Capture
Fiserv has launched its merchant acceleration programme (MAP), an initiative to increase the awareness and adoption of merchant capture by businesses.
Merchant capture is a remote deposit capture solution that banks may provide to their business customers to provide them the convenience and cost savings of making cheque deposits from their office or store locations. The technology has great benefits for business customers, which banks can offer and promote themselves as a partner who is vested in helping them grow their businesses as they participate in the movement from paper to electronic processes.
Using MAP, Fiserv will help financial institution clients target industries that are typical users of merchant capture – medical offices, building trades, property managers law offices and many others – to help them better serve these clients. Among the marketing tools in the campaign are a return-on-investment calculator, marketing materials that can be branded by the bank or credit union, videos and other efforts aimed at educating businesses about the benefits of merchant capture. In addition, Fiserv will offer sales incentives to financial institution employees who identify potential merchant capture users and will host Remote Deposit Days at financial institution branches to demonstrate the businesses advantages of merchant capture.
Initial results of MAP are encouraging. One midwestern US bank signed up 40% of the business customers who came to its ‘Remote Deposit Days’ promotional event.