As one year draws to a close, another begins, making New Years a time of reflection and prediction. For the payments industry, 2019 was a busy year defined by mergers, big announcements, new technologies, and shifting consumer expectations and preferences. In terms of mergers and acquisitions, the year got off to hot start in January,…
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The ways in which we use credit cards are evolving more quickly than ever before, from new and improved rewards structures to payments through mobile apps and connected devices. And the trend shows no signs of stopping as we enter a new decade. As these new ways to pay evolve, measures to protect the security of our…
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As contactless payments become more ubiquitous in certain European and Asian countries, wearable payments technology is seeing a dramatic increase in adoption. This is particularly true for the devices themselves — such as Apple Watches and Fitbit fitness bands — that may have been recently given as gifts during the holiday season. Despite the convenience…
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Get ready for the contactless card surge. This holiday season may remind you of the “hurry up and wait” component of brick-and-mortar commerce. Standing in line, juggling packages and wallets, counting cash at the register to make exact change. The folks ahead of you, fiddling with cards and inserting them at the terminal, perhaps forgetting…
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When Visa, Chase, New York’s Metropolitan Transportation Authority (MTA), and other industry leaders co-launched a contactless payments pilot seven months ago, they started small, and with modest goals. This “public pilot” made contactless payments available on a few train lines, and only at 16 stations, including Grand Central Station and Union Station. A bit of caution was well…
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Recently, my son and some of his friends were hurrying to catch an “L” train in Chicago, and it tends to be the way of things that when you are rushing to make a train there are long lines at the ticket machines. Fortunately, my son was equipped with a contactless EMV card which meant…
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Discover has announced it will start issuing contactless cards over the next several months. “Contactless technology has become increasingly popular with our cardmembers and more accepted by merchants worldwide, and we want to deliver the best shopping experience to our cardmembers,” said Szabolcs Paldy, senior vice president of marketing at Discover. “The goal of this digital technology…
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PSCU has announced the release of its annual Eye on Payments study. For the second year in a row, the nation’s premier payments CUSO set out to explore payment preferences among credit union members and other financial institution customers (“non-members”) and how they have shifted over the past year. Through this research, PSCU aims to gain a better…
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November 5, 2019 In response to rising consumer demand, card manufacturers and issuers are actively working to develop and provide more environmentally-conscious solutions to address the growing problem of plastic waste. The challenge for card manufacturers is in sourcing materials that are not only durable, but able to handle the complex security and technology requirements…
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Today, payments options for consumers are endless, and credit unions should be prepared to provide members with access to as many offerings as possible. While new payment methods such as digital wallets and real-time payments are important, optimizing credit and debit card programs is also imperative for credit union success and for their cards to…
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