Credit Union Tracker® – February 2021

Navy Federal Finds Contactless Cards Pay Off

Credit Union Tracker® – February 2021

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,” a collaboration with PSCU, Navy Federal Credit Union’s Tynika Wilson explains why kicking their contactless innovation plans into overdrive can give CUs an edge in the years ahead.

Inside the February Tracker

  • An interview with Tynika Wilson, senior vice president of debit card and fund services for Navy Federal Credit Union, on how the pandemic has driven demand for CUs to issue contactless cards and why CUs must prioritize their implementation
  • The latest credit union developments, including a PSCU survey finding that debit-based contactless transactions had more than doubled year over year at the beginning of February and why 56% of all payment cards are expected to be contactless by the end of 2022
  • A Deep Dive analyzing how the pandemic is driving more consumers to tap touchless payment solutions and exploring the factors hampering credit unions’ abilities to implement contactless solutions at the necessary speed

Velera Credit Union