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Posted: Apr 13, 2016
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Author: Paul Castner

Record turnout expected. Renowned speakers. The Payments Review will be there!

It seems like we just unpacked the boxes from last year’s CSCU Solutions Conference (SC), but here we are again with our 2016 annual conference just a few days away.  SC16 runs from April 20-23 and is being held at Disney’s Yacht and Beach Club in Orlando, a world-class resort and conference center that just happens to be connected to some rather famous theme parks.  The venue, the agenda, the speakers, the weather, and the fun are all key ingredients to making SC16 shape up as arguably one of CSCU’s best conferences. 

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Posted: Apr 7, 2016
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Author: Lou Grilli

As more POS terminals are being upgraded to EMV chip-ready, and more credit unions are getting chip cards in the hands of their members, questions regarding fallback transactions are being generated. 

 What is a fallback transaction?

Simply stated, a fallback transaction occurs when a chip card is presented to a chip enabled terminal ("chip-on-chip"), but the transaction is conducted as a swipe, usually due to the terminal unable to read the chip on the card. This could be due to a defective or scratched chip, a terminal or network incorrectly configured or with a chip reader that is defective (all legitimate reasons for fallback), or a chip intentionally damaged so it cannot be read, on a counterfeit card encoded with magnetic data stolen from a chip card. 

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Posted: Mar 15, 2016
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Author: Paul Castner

 

New Payment Technologies.  Fighting Fraud. Interest Rates.  CU Loan Growth.

Tom Davis, CSCU’s Sr. Vice President of Finance and Technology, was recently interviewed by Mike Lawson of CU Broadcast during GAC in Washington, D.C.  Covering a wide range of topics on what credit unions should be prepared for in 2016, Davis offered his expert insights on emerging payments and what to expect in the ongoing fight against fraud.  Additionally, he says to keep an eye on interest rates and that we will continue to see loan growth for credit unions in 2016.

 


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Posted: Feb 23, 2016
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Author: Tom Davis

Wouldn’t it be nice to say goodbye to plastics.  Imagine your cardholder loses your card while away on a business trip. Imagine your cardholder getting that dreaded phone call or text alert notifying them that their debit or credit card number has been compromised and the card has been shut down. These are tough realities, right?

 

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Posted: Feb 19, 2016
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Author: Lou Grilli

10 Steps Credit Unions Should Take To Keep Member Data Safe

Taken at face value, mobile payments are considered more secure than credit cards, even more secure than EMV chip cards. Unlike chip cards, the payment credentials stored on the phone or watch are tokenized, whereas the chip card has the actual card number on the chip. Also, the phone requires an additional authentication (a fingerprint or a passcode) which the card does not require. This is the current case with Apple/Samsung/Android Pay. But there are other forms of payments both in the market and in start-ups whose focus is not on security. These start-ups are working on merchant-specific payment and loyalty apps, on-demand service apps, pay-at-the-table apps, and the vulnerability of these new forms of payments are driving increased security concerns.

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