Peoples Bank taps Corserv to launch credit card programme
Ohio, US-based Peoples Bank has partnered with Corserv, a provider of payment programmes, to implement its credit card programme for business and retail customers.
Peoples Bank partners Corserv for credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products, including commercial and business cards, traditional rewards cards, a low rate card, a high-rewards world card and secured cards for those building their credit.
Additionally, with Corserv’s business administration interface, business and commercial customers of Peoples Bank will be able to have enhanced control capabilities with options to issue new cards, set spend controls and pay vendors via virtual cards.
For the bank, which has $8.8 billion in assets under management, Corserv’s programme also allows it to own its credit card profits and losses, and make credit decisions based on its relationship knowledge of applicants while approving credit, something it couldn’t do previously while on an agent bank programme. For the bank staff, Corserv also provides 24/7 access to customer support.
“With Corserv’s credit card program, Peoples Bank can now serve our business customers with features like free expense reporting and detailed transaction reports that include level 2 and level 3 data,” says Tom Frawley, senior vice president of Peoples Bank.
“Our new card products have competitive rewards programs while at the same time providing a long term product for our consumer and small business customers with relationship-based APRs lower than industry average.”
