Horizon Bank Prepares to Roll Out MOCA’s Digital-First Next-Generation Card-Based Payment Platform

By AIT News Desk On May 26, 2021

Bank provides users with an advanced suite of payment solutions including virtual cards, real-time P2P payments, browser-based online payment assistant and purpose-driven cards

MOCA, a digital first next-generation card-based payment platform provider, announced that Horizon Bank ($1.7 billion in assets), the largest community bank in Austin, Texas, will soon offer MOCA’s advanced card-based payment solutions to its customers after conducting an extensive pilot.

“THIS WILL RESULT IN HIGHER ADOPTION RATES AND INCREASED CARD VOLUME, WHICH WILL DRIVE INTERCHANGE REVENUE IN ADDITION TO ENHANCING THE CUSTOMER EXPERIENCE.”

To better compete against megabanks and challenger banks, Horizon Bank wanted to focus on technology that provided its customers with native mobile payments services and the ability to create purpose-driven cards. The bank selected MOCA because the company provided an integrated, turnkey platform for enhancing the user experience, driving additional revenue, and providing the ability to quickly launch new card products, including self-issued virtual cards.

OrionVM and Blaize to Deliver Hosted AI Inferencing Environment Powered by Blaize GSPs

Sep 27, 2024

ThoughtSpot Appoints Ketan Karkhanis as New Chief Executive Officer

Sep 27, 2024

HaystackID Expands Core Intelligence AI™ Offering with Relativity aiR for Review Integration

Sep 27, 2024

Prev Next 1 of 40,260

“Today’s consumer expects instant gratification and MOCA gives us the ability to let a customer open a card and self-issue a virtual version of the card that can be used immediately – all through our digital banking channel,” said Gregg Bennett, EVP of Horizon Bank. “This will result in higher adoption rates and increased card volume, which will drive interchange revenue in addition to enhancing the customer experience.”

MOCA provides a digital-first, next-generation, card-based payment platform that gives cardholders real-time transaction alerts and advanced controls, including the ability to turn cards on and off, the ability to self-issue single use card numbers on demand and reload or recall funds. With MOCA, end-users – both businesses and consumers – can issue their own virtual cards on demand and be up and running in a matter of seconds. Additional real-time P2P payment options and purpose-driven cards give end-users even greater flexibility with how they use their money. MOCA’s Visa-branded cards are contactless and compatible with the popular digital wallets.

The MOCA platform also gives financial institutions opportunities to provide additional value to cardholders through loyalty programs and to cross-sell with native communications on the platform.

“At MOCA, we believe in enabling banks to create card programs that fulfill their customers’ purpose. These purpose-driven cards – cards for kids, caregivers, elderly parents, business purchase cards, branded gift cards – make it easy for banks like Horizon Bank to create a superior cardholder experience and boost revenue,” said John Burns, CEO of MOCA. “We look forward to growing their card program as the bank continues its impressive growth.”