Remove Credit Union Service Organization Remove Online and Mobile Banking Remove Point-of-Sale (POS)
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Anticipating The Consumer Spending Rebound

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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 The Shift In Payments.

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

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PSCU reported that the hike in mobile wallet credit purchases among its CUs’ members was nearly 48 percent by August 2020, while mobile wallet debit purchases climbed 22 percent during the same period. These findings indicate major — and potentially missed — opportunities for CUs in the digital era of financial services.