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Posted: Nov 10, 2017
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Author: Lou Grilli

Apple joins a growing list of ways friends and family can send money to each other. Will Apple find success with their version?

Apple launched its person-to-person (P2P) payments service, Apple Pay Cash, riding on top of Apple’s iMessage, thereby joining a long list of other tech companies who also offer P2P, including PayPal, Square, Venmo, Facebook, Google, SnapChat, Zelle, PopMoney, and several others. With this service, Apple is hoping to generate new P2P users in a demographic that typically shied away from P2P apps more popular with younger users, and possibly spur increased use of Apple Pay, the tap-to-pay capability of iPhones and Apple Watches.
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Posted: Oct 11, 2017
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Author: Lou Grilli

Should Credit Unions Renew?

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

It’s hard to believe that three years has passed since Apple surprised the mobile payments world by stating that iPhone 6 users can make payments with the touch of a finger, beginning on October 20, 2014. About 500 credit unions and banks were among the initial issuers who agreed to a three-year term to participate, meaning their contracts are coming up for renewal. Many financial institutions signed on shortly thereafter. According to PYMNTS.com, the terms of the contract required the issuers to give up to Apple a half penny for every debit transaction or 0.15 percent of every credit transaction conducted through Apple Pay. These fees were over and above charges already assessed by the card networks and the processors. But those financial institutions, mostly larger or forward thinking credit unions and banks, wanted to be on the forefront of what was highly touted to be the evolution to the long-awaited “year of the mobile payments.”

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Posted: Sep 14, 2017
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Author: Tom Davis

No, really, we have!

The dream of leaving your leather wallet at home and using other form factors for payments, primarily smartphones, has been the dream of analysts and prognosticators for many years. Every year, at least one publication stakes the claim that the next year will finally be that year.
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Posted: Jul 20, 2017
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Author: Tom Davis

Government also plans to use biometrics to eliminate credit and debit cards by 2020

Editor's Note: This article was previously published on CUInsight.com and has been modified.

Overnight, India, a country with 1.3 billion in population, became a predominantly cashless country, switching to mobile-based digital payments. And the government has even more ambitious plans – to eliminate credit and debit cards by 2020. How did this all happen?

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Posted: Apr 26, 2017
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So says CSCU Bob Hackney at the CSCU 2017 Annual Conference

“The future ain’t what it used to be,” was a quote from Yogi Berra. Who knew that a New York Yankees catcher and manager from the 50’s and 60’s would be talking about payments?” That was the thought-provoking opening by CSCU’s president, Bob Hackney during the CSCU 2017 Annual Conference held in Orlando. 

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