Menu
Posted: Sep 26, 2016
Comments: 0

Innovative ScoreCard Rewards Promotion Delivers Results

CSCU member Evansville Teachers Federal Credit Union has increased its average monthly credit card applications by 89% after extending to members its “3-2-1” ScoreCard Rewards program. Since July 2015, the program has offered credit union members triple points on a quarterly rotating category, double points year round on gas and groceries, and one point per dollar spent on all other purchases.

 

Read more
Posted: Aug 16, 2016
Comments: 0
Author: Lou Grilli

Not true! Chip cards are solving the problem they were intended to solve.

A number of leading news organizations recently reported that a security flaw in chip cards has been discovered, questioning the security benefits offered by EMV technology. One article suggests there are ways to completely undo the security the chip-enabled cards provide. The articles pointed to research presented by two people from NCR, a payments technology leader. Their research was presented at Black Hat, a widely attended hackers convention where research, security flaws, and hacks are presented to the public and to fellow security experts with the goal of closing security gaps before they can be exploited.

Read more
Posted: Aug 4, 2016
Comments: 3

Contactless debit, credit and prepaid cards - payment cards that can be used by tapping a point of sale (POS) terminal or waving the card near the terminal - have been issued by major banks around the world since 2007.  Also referred to as “tap and pay” or “tap and go,” these cards feature an embedded NFC antenna and chip (different than the EMV chip) which allows the card to exchange payment credentials to an NFC enabled terminal with just a wave or a tap. They are touted for both speed and convenience mostly because no signature or PIN is needed.  In addition, the transaction amounts using this capability are typically limited to $25 or $50, consistent with the waiving of the need for signature for mag stripe transactions for those amounts.

Read more
Posted: Jul 26, 2016
Comments: 0
Author: Bill Lehman
Walmart Pay has joined the burgeoning list of “Pays” – mobile payment apps – and has quietly made its way from its launch in 2015 to now be accepted in every Walmart store (over 4,600 locations) in the U.S. And early reports show that 88% of transactions processed through Walmart Pay are from users who previously used the app, meaning high satisfaction. Contrast this with Apple Pay’s low repeat usage rate – one-third of all Apple Pay users don’t use it a second time. Walmart Pay, which is actually a component of the Walmart mobile app, works with any credit, debit, prepaid (and of course) Walmart card, and allows payment at checkout by opening the app and scanning a QR code.
Read more
Posted: Jul 22, 2016
Comments: 0

A follow up to previous TPR article on this topic

Fraud continues to be the number one reason why a cardholder moves a card from top of wallet. And fraud isn’t cheap, costing the issuer in liability for the fraudulent charges plus the cost of reissue.  Additionally, there is the potential of lost revenue from the card being moved from the number one position in the cardholder’s wallet.

A previous thought leadership article on ThePaymentsReview.com introduced the concept of putting the cardholder in the middle of the transaction, meaning enlist the cardholder to take ownership of monitoring card purchases and respond quickly to potential fraud.

A shining example of success implementing this strategy took place over the 4th of July weekend. FIS, CSCU’s processing partner and international provider of financial services technology and outsourcing services, rolled out a new product, SecurLOCK Communicate.  The product alerts credit and debit cardholders of potential fraud in real time via a two-way interactive text message (SMS), or a voice call, or an email.

Read more
RSS
First3456789101112Last

search

Featured Stories