ST. PETERSBURG, Fla.-Since PSCU announced in September its partnership with Google to make Google Wallet available to credit unions, at least 20 more CUs have come on board.
That brings the number to more than 26 CUs participating, as the program was rolled out in a beta test with six PSCU credit unions: GTE Financial, Tampa, Fla.; BCU, Vernon Hills, Ill; CFE FCU, Orlando, Fla.; Arkansas FCU, Jacksonville, Ark; Vantage CU, Bridgeton, Mo., and TruMark Financial CU, Trevose, Penn (CU Journal, Sept. 13).
Google Wallet is a mobile payment system developed by Google that allows users to store payment cards on their mobile phone. Google Wallet uses near-field communication (NFC) that allows users to "tap and go" on NFC-enabled payment terminals.
A PSCU spokesperson told Credit Union Journal that participating CUs like the fact members can select the credit union's branded card image from the app to use in transactions at merchant point-of-sale devices that support MasterCard's PayPass NFC technology. "PSCU's implementation team facilitates credit union enrollment in the app and manages the uploading of the institutions' payment card artwork. Also, we are developing educational materials to help credit unions build awareness of virtual wallets among their members."
A goal of the effort, PSCU explained, is to keep credit unions top of wallet-and top of mind-with members as payment solutions converge.
