Q2 Holdings, a provider of digital banking solutions, has introduced CardSwap, a tool developed to enable financial institutions (FIs) and card issuers achieve top-of-wallet position while generating valuable interchange revenue.
After launch, Chime Banking has decided to tap Q2’s technology to empower people easily move their bill payments when they switch to Chime.
Chime’s branchless bank account allows members to shun fees and save money automatically through their app.
Leveraging CardSwap technology, account holders can automatically apply new debit or credit card information across their favourite subscription and digital point-of-sale services, including Amazon, Netflix and Hulu-in a single, elegant workflow.
Chime is using Q2’s technology to avoid hassles of switching bank accounts by allowing members to automatically move their online and subscription payments to their Chime card.
Chime CEO and founder Chris Britt said: “We know lots of people, particularly millennials, would like to switch their bank, but many haven’t changed because it’s a pain to move your bill payments to a new account.
“Our new bill switch feature is a great example of how we’re using modern technology to make banking faster and hassle-free. Signing up and switching to Chime is now even easier, and it can all be done from your smartphone.”