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Deep Dive: Why Contactless Payment Innovation Is Key For CUs Amid The Pandemic And Beyond

PYMNTS

A transformation toward contactless payments is underway at the nation’s credit unions as the public shuns cash and even physical cards to lower infection risks with COVID-19. The High Stakes Of Offering Contactless.

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CUs Use AI, Cloud-Based Tools To Drive Member Engagement

PYMNTS

Consumers’ migration to using contactless payment methods more often for their speed and convenience was only accelerated during the onset of the pandemic last year. It is easy to see why contactless payments are growing in a time of social distancing and touchless safeguards to prevent spreading the virus.

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Will Contactless Move Credit Union Cards To Top Of Wallet?

PYMNTS

In an interview with PYMNTS, Jeremiah Lotz, managing vice president of Digital Experience and Payment Products at PSCU , said the timing is right for the shift to contactless. His comments came in the wake of findings by credit union service organizations that a rush to adopt contactless cards is likely to come in 2020 and beyond.

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Today In Digital-First Banking: Sea Purchases Indonesian Bank BKE; PSCU Extends Partnership With Fiserv

PYMNTS

In today’s top digital-first banking news, Singapore tech startup Sea has reportedly bought Indonesia’s PT Bank Kesejahteraan Ekonomi (Bank BKE), while credit union service organization (CUSO) PSCU has lengthened its payment processing collaboration with Fiserv. Singapore Tech Startup Sea Buys Indonesian Bank BKE.

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PSCU Expects To Issue More Than 3M Contactless Cards In 2020

PYMNTS

Payments credit union PSCU is prepared to handle what they predict will be a rush in 2020 to adopt contactless cards, the company said in a press release on Wednesday (Nov. In 2020, PSCU anticipates distribution of more than three million new contactless cards to 100-plus credit unions.

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How Music Retailers Keep Card-Not-Present Fraud From Sounding A Sour Note

PYMNTS

It also examines how merchants and financial institutions (FIs) are responding and working to enable easy contactless and online purchasing while keeping such card-not-present (CNP) transactions safe. A new report found that 58 percent of merchants now accept contactless cards, compared to the 40 percent that did so in 2019.

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Anticipating The Consumer Spending Rebound

PYMNTS

In an interview with Karen Webster, Chuck Fagan, president and CEO of PSCU , a credit union service organization (CUSO), said that the impact to consumer spending will be prolonged, but the recovery will be swift and sharp — depending on where you look. Overall credit card spend was down 29.9