SWBC’S SWIVEL® Offers Enhanced Payment Experience with New Stored Cards Feature

Recognizing the need for expanded payment solutions that meet the demands of today’s account holders and institutions, SWIVEL®, a subsidiary of SWBC specializing in payment solutions, today announced its new stored cards feature, enabling a smoother, more convenient account holder experience across all mobile and web devices. 

With SWIVEL Stored Cards, registered account holders can securely save their card details and mark them as primary payment methods, making transactions faster, reducing the need for repeated manual entry, and minimizing errors. Additionally, stored cards can be used as a primary payment method for payment reminder messages. This offers an even greater seamless experience for users while helping to lower payment abandonment and drive higher payment success rates for financial institutions. 

This new feature is available for both new and existing SWIVEL clients using SWIVEL’s Card Processing with quick and easy implementation at no additional cost to institutions. Handling up to five cards, stored cards will block duplicates and even notify users if a card is expired while disallowing it to be used for payments. The stored cards feature uses velocity monitoring to detect and block card testing, utilizing advanced encryptions and tokenization technology to secure and protect account holders’ sensitive information. This minimizes the risk of fraud while ensuring regulatory compliance. 

“In today’s fast-paced digital world, consumers increasingly expect the same level of convenience with their banking as they experience in other areas of their lives, especially when it comes to payments,” said Amanda Crocker, President of SWIVEL. “With stored cards, our clients can now offer their registered account holders a much faster, more secure, seamless transaction process, boosting retention and providing a strong competitive advantage in a landscape which is influenced more and more by payments capabilities.”

A recognized payments leader, SWIVEL helps financial institutions, K-12 education institutions, and the companies that support them optimize and simplify their transaction processes so they can focus on what they do best. SWIVEL is consistently recognized within the industry, including being named a 2024 PayTech Awards USA winner in the category of “Top Innovation in Payments – Solutions for Banks & FIs,” a finalist in the category for “Tech of the Future,” and a 2024 Finovate Awards finalist for “Best Enterprise Payments Solution.”