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Posted: Jun 5, 2018
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Author: Lou Grilli

[Editor's Note: This article was previously published in Payments Journal, and has been modified.]

There have been many suggestions for use cases for Blockchain, the underpinning technology for many cryptocurrencies. Loyalty programs have been specifically proposed as potential use cases by several credible and reputable firms such as  Deloitte, and Oliver Wyman. Most of what has been written about loyalty blockchains describe benefits in very simplistic terms – Blockchain can make loyalty programs more valuable for end users by increasing transferability of rewards, or can increase satisfaction by making rewards programs more real-time. But the addition of a proprietary cryptocurrency could be the game changer which moves blockchain for loyalty from concept to reality.

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Posted: Jan 12, 2018
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Recent performance data from NCUA and Callahan & Associates show several positive trends. But looks can be deceiving.

The role of the Portfolio Consultant at Trellance means being able to paint the picture for member/owner credit unions as to exactly how their credit card portfolio is performing. Each quarter, average credit union performance is released, which for the last very many quarters have all shown positive trends.

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Posted: Jan 10, 2018
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ThePaymentsReview introduces a new feature, which will occasionally highlight regulatory topics important to credit unions.

[Editor's Note: This article was previously published on CU Insight, and has been modified.] 

Credit unions typically incorporate minimal fees, deriving most of their non-interest income from interchange on credit and debit portfolios. As the income from interchange declines, some credit unions look to fees to replace that revenue. What fees can be charged is, in part, limited by “Reg Z”.

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Posted: Nov 3, 2017
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Author: Lou Grilli

Another way Credit Unions can keep members happy, reduce declines, and keep cards top-of-wallet.

The ability for an issuer to approve a “Partial Authorization” has been available since 2005, yet most issuers and merchants still don’t take advantage of it. As a result, transactions on debit, prepaid, and gift cards frequently get declined, resulting in frustrated cardholders, and lost sales. 

Simply put, a Partial Authorization occurs when an authorization request for a card presented to a merchant is attempted for the full amount of the transaction and, if there are not enough funds in the debit or prepaid or gift account available to cover the full amount, the authorization is approved for the amount available. This allows the cardholder to use the available amount in the account, and for the merchant to obtain an additional form of payment for the difference. For non-reloadable gift Cards, the issuers will also return a card balance which will be printed on the receipt. Partial Authorization keeps transactions alive without the merchant telling a customer it has been declined and allows the cardholder to pay the remaining amount with another form of payment.

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Posted: Oct 19, 2017
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What credit unions need to be on the look out for

The recent breach of Equifax accounts represented something far worse than breaches of card data (such as name, card number, expiry, and in some cases addresses) as has happened at Home Depot, Target, Chipotle, Arby’s, Michael’s and several other brick and mortar and online locations. In this case, much more than card data was compromised.  The data stored at Equifax includes social security numbers, account history, drivers’ license numbers, phone numbers, email addresses, birthdates, history of previous addresses and employers – all the information that is used to verify new banking customers or to reset lost passwords.

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