LAFAYETTE, Ind. – Purdue Employees FCU announced the introduction of a mobile payment service for members, called PEFCU2Go.
The service, powered by MShift, allows credit union members to check account balances, transfer funds and pay bills using their web-enabled cell phone or other mobile devices.
The service uses the same multifactor authentication required for online banking.
Gas prices are rising as a large swath of consumers are already under pressure, which could eventually affect demand for credit.
The share of American households considered "financially vulnerable" rose to 17%, the highest level since at least 2018, according to the nonprofit Financial Health Network.
The bank was determined, by multiple industry rankings and experts, to be the best mobile banking provider in the U.S.. Bank of America took second place.
Succession planning experts say that the possible next generation of RIA owners need clear communication, tangible career paths and thoughtful compensation plans. But that is often easier said than done.
The move came 12 days after Canada's bank regulator said tokenized deposits are not legally distinct from ordinary deposits.
Bank of America, Capital One and other large banks have teamed up to publish a set of principles for agentic commerce. But the call for a set of standards from banks comes as other fintechs and payment companies are already forging ahead with the technology.
