New Pioneers coop credit recovery system expands to Canada
New PioneERS Coop Credit Recovery (CPCR) is launching in Canada.
Launching today, the system will allow credit card issuers to quickly remove any outstanding balance and provide a refund within minutes.
The new service is available to Canadian card issuer issuers, credit unions, and merchants.
With more than 1.5 million members, the coop has seen the biggest growth of any credit card coop in history.
It was founded in 2008 by co-founder and CEO Mike Lichtman, who is a PhD candidate at the University of Ottawa.
Since then, the team has grown from a small group of students to a highly trained and professional team.
Today, the CCR is one of Canada’s most active credit card recovery programs, with more than 7,000 active coop members in the country.
The system is powered by a technology called CCR-B (Cooperative Credit Recovery B), which is a blockchain based credit recovery tool.
In the process of issuing credit cards, the issuers automatically receive a transaction from the co-op, and the CVC-B process, which allows them to automatically process the transaction and remit the funds, takes place.
For a credit card, CCR involves the issuer receiving a credit union payment from the card’s issuer.
When the coops card is processed, it sends the CCC to the covenanter’s credit union for processing.
Once the coveanter receives the credit card payment, they can access their account.
With the launch of CCR, the platform will help credit card providers simplify the process for coopmembers, which has been a challenge for the cooperatives credit card industry.
Today’s launch comes as credit card fees continue to rise, making credit card processing increasingly difficult.
However, credit card companies are working hard to cut costs by lowering the number of transactions they process and by simplifying the CCL processes.
This is important for the consumer as they can now access the money faster and without having to wait hours for the transaction to be processed.
For more information, visit the Pioneers website or call 778-227-4100.