ST. PETERSBURG, Fla. – PSCU Financial Services yesterday said it is launching contactless cards for credit and debit platforms.
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Members of the credit union-owned organization can begin ordering the new cards immediately from either Visa or MasterCard.
The contactless cards have been market-tested at several credit unions, including Altra FCU, which created a new graphic for its cards.
The cost to issue the cards is greater than that for traditional mag stripe cards because of the embedded chips, but the contactless cards offer higher interchange fees.
Contactless transactions are processed as signature accounts, although no signature or receipt are required for transactions under $25.
