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Posted: Feb 16, 2016
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Author: Paul Castner

Which questions are the right ones to be asking?

With so many new digital wallets announced or in development it can be a daunting task for credit unions to sift through the mountains of data to determine what product(s) and digital strategy make the most sense for you and your members. However, when it comes to answering the question about which wallet or wallets should a credit union offer its members, the answer may surprise you. According to CSCU Director of Payments Strategy, Lou Grilli, this is not a winner-take-all proposition.  Grilli was asked by The Payments Journal to provide his insights and recommendations on the how digital and mobile wallets factor in to an overall digital strategy. Grilli says that having your mobile wallet integrated into a mobile banking app makes all the sense in the world.  So, what is your credit union's plan and strategy relative to digital wallets?  

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Posted: Feb 4, 2016
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Author: Lou Grilli
Financial institutions have always had their work cut out for them trying to make sure that when a member or cardholder reaches for a card to pay with, it’s their card; in other words, being top-of-wallet. But using mobile apps to pay adds a new twist. Now, the mobile phone user needs to actively choose which card to add to the mobile app and most apps allow more than one card.
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Posted: Feb 1, 2016
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Author: Lou Grilli

Part 1 of a 3-Part Series

Introduction

Many credit unions have asked us which is better, tokenization or encryption; or which is more secure EMV or NFC?  Focusing on these questions might not be the best approach. All of these technologies are different pieces of the puzzle intended to help fight fraud. Chip cards, tokenized mobile payments and fingerprint scans all play important roles in making data breaches less valuable to fraudsters, thereby reducing issuers’ costs when breaches occur. Since there is much ground to cover on this topic, we decided to divide the content into three parts.  First up, Tokenization.

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Posted: Jan 26, 2016
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Author: Tom Davis

What should credit unions be on the lookout for in 2016 regarding payments?  Driving member card loyalty might be the biggest challenge your credit union will face.  The competitive set is rapidly growing and evolving for member credit and debit card loyalty especially with new payment offerings from merchants. As consumer demand continues to accelerate you will need to evaluate your credit union’s loyalty programs to ensure they are satisfying your members’ needs and your credit union’s bottom line.

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Posted: Jan 11, 2016
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Author: Tom Davis
2016 will be one of the most exciting years on record for credit unions when it comes to payments. Credit Union Magazine asked us to share some of our forward-thinking thoughts on the trends to watch and how credit unions will be impacted by the multitude of emerging payments technologies.
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