MARKHAM, ON, AUGUST 12, 2020 – Everlink Payment Services Inc. and Servus Credit Union are excited to announce the formation of a joint venture to deliver a Debit Mastercard Affiliate program to the credit union system. The joint venture will leverage Everlink’s long-standing card issuance program and services combined with Servus’s sponsorship through their existing Debit Mastercard license.

“Everlink is very excited about our partnership with Servus, as it allows us to deliver a pragmatic solution to credit unions in a very cost-effective manner, leveraging aggregate economies of scale. As the retail economy continues to rapidly shift from traditional brick and mortar stores to online, this solution comes at an ideal time, offering credit unions the opportunity to deliver a product to their members that allows them to use their credit union debit card to shop online,” says Mark Ripplinger, President and CEO of Everlink.

The Debit Mastercard affiliate program provides credit unions and the members they serve with many advantages. Credit union revenues will continue benefitting through existing programs such as Interac Flash interchange, Everlink’s Optional Issuer Fee program, in addition to accessing an additional revenue stream in the form of Mastercard’s interchange fees derived from online/e-commerce and cross border POS purchases. The Debit Mastercard program will also protect credit union issuers against disintermediation from store valued accounts. Furthermore, the Debit Mastercard transactions will be monitored under Everlink’s eDETECT+™ fraud monitoring platform. Issuers will also have access to Mastercard Global Services providing support for lost and stolen card reporting, emergency card replacement and emergency cash advance.

From a member’s perspective, they will enjoy the convenience and ubiquity of a credit union debit card providing them payment access through traditional contact, contactless and now online shopping. Members will benefit from worldwide payment acceptance at all domestic and international merchants that accept Mastercard, both online and in-store, as well as peace of mind against fraudulent online transactions through cybersecurity services such as Address Verification Service (AVS). Finally, members will be able to view all accounts in online/mobile banking without redirect.

“Servus Credit Union is proud to partner with Everlink on the Debit Mastercard affiliate program,” says Garth Warner, President & CEO of Servus Credit Union. “We view this as an opportunity to deliver on our value of co-operation amongst co-operatives to strengthen the credit union movement for the benefit of all members locally, provincially and nationally.”

Over the next few weeks, Everlink and Servus will be moving forward with a pilot project with a large credit union to officially kick off the Debit Mastercard Affiliate program. In addition, both organizations are working to finalize a Tri-Party sponsorship agreement to be made widely available to any participating affiliate by the mid-September timeframe. For further information about the partnership or the Debit Mastercard affiliate program, please contact your Everlink Account Executive.

Everlink Payment Services Inc. is a leading provider of comprehensive, innovative and integrated payments solutions and services for credit unions, banks, and SMEs across Canada. In addition to supplying best‐in-breed technology infrastructure and payment network connectivity, we offer a comprehensive range of integrated payments Lines of Business including: Payment Network Gateway, ATM Managed Services, Card Issuance & Management, Fraud Management Solutions, Mobile Payments, Professional Services and SME Solutions.

About Servus Credit Union Ltd.
At Servus Credit Union we’re building a better world, one member at a time. We’ve been shaping the financial fitness of Albertans for 80 years with a full line of secure financial services. We help members manage their money wherever they are through 100 branches in 59 communities; online, mobile and telephone banking; and 1900 no-fee ATMs across Canada. We re-invest our profits in our members and the communities we serve.

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