Two CUs Opt to Offer Members Contactless Debit Option
Debit cards and other devices that do not have to be swiped at a card reader to work have been available to larger card issuers for some time. Now two credit unions have announced they have started offering their members this "contactless" option.
The $120 million Novartis Federal Credit Union, headquartered in East Hanover, N.J., converted all of its debit cards to the contactless product and has seen its debit card use rise 9.4%, according to its processor PSCU Financial Services, which facilitated the transition.
On the other coast, the $1.9 billion California Coast Credit Union, headquartered in San Diego, announced a similar move, and has started issuing its members new debit cards with MasterCard's Pay Pass contactless technology attached, according to its processor The Members Group, which is heading the phase of the new card option.