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Posted: Feb 16, 2017
Comments: 0

Opportunity for credit unions. No cost to the issuer. Members reap rewards.

Samsung recently announced a valuable addition to Samsung Pay - Rewards. This represents some unique opportunities for credit unions to promote usage of credit-union-branded cards in Samsung Pay, with rewards to the cardholder, at no cost to the issuer.

Samsung’s rewards program offers an escalating earnings program: 10 points per purchase, regardless of amount, ramping up to the Platinum level where members earn 40 points per purchase if the cardholder makes 30 purchases each month using Samsung Pay on a Samsung phone or Gear watch. Redemption options include a $20 Visa prepaid card for 2,500 points, a Gear Fit2 for 8,000 points, among other items. That means that power-shopper paying everywhere with their Samsung Pay who achieves Platinum status could earn a $20 gift card every two and a half months, or can get a Fit2 in a little over 6 and a half months. Granted, this is not as rich as most credit card reward programs, but this is in addition to any rewards that a credit union offers, such as ScoreCard ... at no cost to the credit union. 

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Posted: Feb 6, 2017
Comments: 0
Author: Paul Castner

CSCU payments prognosticators are at it again!

It’s time to put our carefully laid plans for 2017 into action. What will 2017 bring? We asked two CSCU thought leaders to share with us their predictions for the year and implications for the credit union community.

Tom Davis, CSCU’s SVP of Finance & Technology, gave us his top predictions:

Checkout-less shopping will proliferate.  Merchants like Chipotle and Taco Bell have already released their “order ahead” and “checkout-less” shopping apps.  Sam’s Club joined the party when they released their “Scan and Go” app in 2016.  Amazon’s new checkout-less grocery store is taking all of this a step further.  These apps and shopping experiences provide real conveniences that consumers value

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Posted: Jan 26, 2017
Comments: 0
Author: Barney Moore

An impressive 20.5% year-over-year revenue increase grabs the board's attention.

Over the past five years, the payments landscape has rapidly evolved and many credit unions are now taking advantage of various initiatives and solutions to remain relevant and improve their business portfolios. One credit union in particular has experienced significant growth in business after partnering with CSCU. ProMedica Federal Credit Union’s Marketing/Business Development Director, Chris Tarsha, shares the experience of being a part of CSCU’s Optimize Program. He and his team used the Portfolio Growth Solutions (PGS) product with expert guidance from their CSCU portfolio consultant.
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Posted: Jan 19, 2017
Categories: Debit Cards, Fraud
Comments: 0
Author: Lou Grilli

Bold move by Oregon-based credit union stems the rapid rise in fraudulent card activities.

Due to high fraud one weekend at Walmart locations in California and Arizona, Trailhead Credit Union, a $110 million in asset credit union based in Portland, Oregon made the bold decision to stem the fraud by blocking their debit cards from being used at Walmart in those two states.

This decision was not made lightly; even though stores in their home state of Oregon were not blocked, Trailhead members vacationing or retired in those two states could be impacted.

ThePaymentsReview spoke with Jim McCarthy, CEO and Gail James, EVP about the decision process and its impact on their members.

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Posted: Jan 18, 2017
Comments: 2
Author: Lou Grilli

Imagine a day when data breaches yield no usable card numbers.

While many authors are making their predictions for 2017, predictions for battling payment fraud need to take a much broader view. Imagine a safer world of payments where credit and debit card fraud is mitigated through technologies. The mag stripe is gone forever, and mobile payments as well as terminal-free check-outs rely on tokens instead of an actual 16 digit Primary Account Number (PAN). And for those who still insist on holding a piece of plastic in their wallet, cards will have smart security measures – a biometric scan device on the card to prevent lost/stolen usage; geolocation capability built into the card to assist in POS authorization; and a dynamic PAN and CVV displayed on a screen on the card for use in ecommerce purchases to prevent fraudulent online use.
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