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Pass-through credit processing live at CO-OP Financial Service
RANCHO CUCAMONGA, Calif. (12/15/10)--CO-OP Financial Services has gone live with pass-through processing for credit card transactions. Pass-through credit processing, also known as internal credit processing, allows credit unions to maintain control and customization in servicing their members, while implementing a less expensive processing solution than a fully outsourced processing solution. With pass-through processing, the credit union’s host platform is the system of record for the credit card accounts. The credit union processes all transaction authorization and posting, and back-room services, including servicing and collections. “With CO-OP Pass-Through Credit, we can now offer our clients the simplicity and lower processing costs of a bundled debit and credit solution,” said Stan Hollen, president/CEO, CO-OP Financial Services. “Credit unions can maintain a high level of control and customization in their credit card programs, and at a great value.” CO-OP Pass-Through Credit is an internal credit processing solution provided through a single connection to the host and delivered with the same CO-OP fraud, chargeback and credit union-servicing processes used for debit and ATM program support. CO-OP Financial Services is also offering a white paper entitled “Credit Card Processing: Insource or Outsourced? A Comparative Study.”
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