Payments

TECU here has seen an uptick in credit card transactions, outstanding balances and the number of cardholders since debuting its "Care Card," which allows members to donate the value of their card rewards to local nonprofits.

Recurring payments and online bill payments can help a CU remain top of wallet with their cardholders and even prevent cardholder attrition.

Many credit unions and vendors have built sophisticated metrics around various numbers inside CUs. But one area not being measured well is payments, according to one industry insider.

Credit unions have been hearing for some time about the security benefits of EMV, or chip-and-PIN cards.

If the Merchants Customer Exchange (MCX) succeeds, not only is credit union interchange revenue at risk but so is critical member transaction data.

Consumers will decide whether the Merchants Customer Exchange (MCX) becomes a viable payments network, say industry experts.

CUs should be learning as much as they can about the Merchants Customer Exchange (MCX) and paying attention to whether their cards can be part of the new merchant digital wallet, recommend two payments experts.

While credit unions and other analysts try to make sense of what a court ruling striking down the Fed's 2011 interchange cap of 21 cents might mean, at least one analyst sees an even lower interchange rate benefitting most credit unions.

Credit unions are being urged to pay close attention to the rapid emergence of "omni-commerce," as mobile is changing consumers' shopping habits, says Vantiv.

INDIANAPOLIS – FORUM CU announced the relaunch of its credit card program this year and has engaged The Members Group to assist in that effort.

PayPal co-founder Max Levchin is part of the team behind Glow, a fertility tracking service that uses a mobile app, crowdfunding and analysis to help women conceive children.

Blackbaud has added mobile payment capabilities intended for nonprofit and educational organizations to use at fundraising events.

MasterCard Inc. has launched its first debit card in Latin America for high-income customers.

Samsung Wallet, an Android wallet app that largely resembles Apple's Passbook, is now available on the Google Play marketplace for Android smartphone apps.

Google reportedly plans to discontinue allowing consumers to use its mobile wallet for contactless loyalty and gift card redemption, the latest in a series of changes since Google Wallet's launch.

Companies such as CenPOS, Ingenico and BillingTree are accelerating payments innovation by customizing their technology for the automotive industry.

PayPal's cloud-based mobile wallet, which authenticates shoppers by presenting a photo of their face to the cashier, has arrived in the U.K.

Overall consumer credit in the U.S. jumped $13.8 billion in June even as revolving debt, primarily credit card spending, fell by $2.7 billion. That drop followed a $6.4 billion jump a month earlier, the largest of the year, according to Federal Reserve figures.

Building on an earlier partnership, Isis and American Express are integrating their software and allowing Isis mobile wallet users to access their Isis accounts with Amex's Serve prepaid cards.

Motorists in downtown Portland, Ore. will be able to pay for parking using a QuickPay Corp. mobile app at City Center Parking meters starting in September.