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Posted: Feb 16, 2016
Comments: 0
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 15, 2016
Categories: Credit Cards, Fraud
Comments: 0
Author: Barney Moore

In the ongoing battle against fraud, Visa recently announced that Visa card-issuing credit unions will be required to provide member cardholders with the option of transaction alerts. The mandated deadline to be in compliance is October 14, 2016.  On or before this date, credit unions must provide their Visa cardholders with the option to participate in the service.  Transaction alerts will work for transactions processed on a consumer card, excluding a non-reloadable card, and routed as follows:

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Posted: Feb 10, 2016
Comments: 0
Author: Lou Grilli

Part 2 of a 3-Part Series

This is article 2 of 3 in the series “Tokenization, Encryption, EMV, and Biometrics: The New Superheroes of Payment Fraud.” In Part 1, we reviewed tokenization, its background, and how it is now being used in mobile wallets. It is also good to gain a deeper understanding of EMV and its use of encryption to protect payment credentials. EMV is a technology and a solution designed to prevent card counterfeit fraud.

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Posted: Feb 1, 2016
Comments: 0
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
Comments: 0
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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