CO-OP Financial Services Getting Ready for Card Processing
An executive with CO-OP Financial Services confirmed today that the ATM, debit and shared branching CUSO expects to offer participating credit unions credit card processing sometime in 2010.
"I would say that [card processing] is on the 2010 horizon," said Jennifer Kerry, vice president for card services for CO-OP. Kerry said the CUSO was preparing to take this step because many of its participating credit unions had asked the CUSO to begin offering a card processing product.
When it launches, CO-OP credit card processing will enter an already crowded market for CU card processing, competing with FIS, PSCU Financial Services, The Members Group, TNB Card Services, PEMCO and TSYS.