Credit Union Innovation

The Credit Union Innovation Playbook: Touchless Payments Edition, a PYMNTS and PSCU collaboration, examines how credit union (CU) members’ interest in and usage of touchless technologies, like contactless cards, mobile wallets and QR code-enabled payments, has changed since the pandemic’s onset. We surveyed a census-balanced panel of 4,817 United States consumers, 101 credit union decision-makers and 50 FinTech executives to discover how the heightened demand for touchless technologies is reshaping the CU innovation landscape.

Inside the March playbook:
  • 39 percent: Share of CU members who are “very” or “extremely” interested in using contactless credit cards
  • 86 percent: Portion of CUs that have invested in mobile wallet innovations in 2020
  • 36 percent: Share of CU members who would be at least “somewhat” likely to switch to a new primary FI for access to touchless payment options