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To that end, according to Scott Young, PSCU ’s vice president of innovation, creditunions (CUs) seeking to cement customer loyalty through tech-driven innovation need to keep one mantra top of mind: “Easy is the new loyalty.”.
A transformation toward contactless payments is underway at the nation’s creditunions as the public shuns cash and even physical cards to lower infection risks with COVID-19. This change in consumer behavior is expected to remain even after vaccines are more widely distributed. The High Stakes Of Offering Contactless.
In an interview with Karen Webster, Chuck Fagan, president and CEO of PSCU , a creditunionserviceorganization (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.
Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. The COVID-19 pandemic is shaking up shopping behavior. Around The Next-Gen Debit World.
Consumers are also rethinking whether they should be paying for goods with cash, credit cards or debit cards. Concerns about the virus lingering on paper bills or point-of-sale (POS) terminals have made some consumers and merchants favor digital purchasing.
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