Contactless payment solutions have been around for several years but have been somewhat slow to catch on in the American market. One report in 2018 revealed that just 0.18 percent of transactions at the point of sale (POS) in the U.S. were contactless, even though...
Offering contactless cards can come at an added cost, but it can pay off in the long run for credit unions (CUs). In the Credit Union Tracker, Navy Federal Credit Union’s Tynika Wilson explains why kicking their contactless innovation plans into overdrive can give CUs...
The nearly year-long pandemic has rapidly changed how consumers are making payments, with emerging methods such as contactless solutions increasing in popularity. Touchless payments are quickly becoming the method of choice for consumers, with one January 2021 study indicating 38% of United States consumers use...
Who’d have believed it? Credit unions (CUs), often thought of as behind the digital transformation curve, actually pulled ahead of it. All of that work means good things for CUs and their members, with one caveat: CUs may have painted themselves into a corner. The...
In recent months, we’ve seen debit emerge as a clear payment choice among consumers, where data shows double-digit percentage increases. During the 2020 holiday season, in fact, PSCU said recently that debit purchases were up more than 26 percent, while credit spend was up a...
The value proposition for credit unions continues to be member-centric at all costs. But the pandemic has slightly revised that approach. CO-OP’s Senior Vice President of Pay Products Tom Church-Adams told PYMNTS he has seen consumers rewrite their daily routines and preferences around contactless, digital...
Digital banking has become the way of the world. More consumers than ever are banking on their financial institutions’ (FIs’) mobile-optimized websites and apps amid the ongoing pandemic, making digital innovation a top priority for credit unions (CUs), banks and FinTechs alike. But what types...
High-touch experiences are less than desirable in most any area of commerce in the pandemic era. In fact, PYMNTS research shows more than three-quarters of United States consumers are now aware of contactless payments, representing a 25 percent year-over-year increase. Of the consumers who are...
Payments credit union service organization (CUSO) PSCU will provide a new installment payments product in the near future. The offering, which the organization describes as a buy now, pay later (BNPL) installment plan, lets cardholders pay for purchases over a set period by splitting the...