PFCU Members Wave Phones, Make Payment

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ALEXANDRIA, Va.-Pentagon FCU employees nationwide are waving their phone to pay for things at the cashier stand-part of the VISA Digital Wallet pilot for NFC contactless payments, according to Ben Scandlen, VP-marketing at the $15-billion CU.

Though PenFed is not certain when the Digital Wallet will be available to members, Scandlen said NFC mobile payments will allow members to "find the best deal, as easily as possible" when shopping for financial products. PenFed could alert members to cash-back offers on dining purchases when they enter a restaurant, for example, he said.

The digital wallet will also help members choose the best way to pay, whether with the money in the account or account points -or a combination of the two.Fewer than 50 employees are participating in the pilot, he said.

"The goal is to understand the benefits and issues associated with NFC payments before we develop and release a product to our members," Scandlen said.

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