The new way to pay: Mobile wallets and the path to credit union adoption
Processors do the back-end lift while credit unions focus on meeting a growing demand.
Consumers Credit Union($1.1B, Kalamazoo, MI) was the first financial cooperative in Michigan to offer Apple Pay and has continued to blaze that trail, adding Samsung and Google wallets, too, as they became available.
That’s because the west Michigan institution intends to be there for members as they reach for their digital wallets to pay online and in store as more point-of-sale merchants make contactless payments available.
“We don’t want to restrict our members,” says electronic payments manager Katie Warren.
Where checking accounts and mortgages have long been a sure sign of stickiness, the future standard for creating loyalty might well be digital payment options, something Consumers is already seeing.
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