PSCU has announced that it will take a lead in piloting distribution of MasterCard’s PayPass digital wallet services.
In a press release, PSCU identified itself as “first in the credit union industry that will test PayPassWallet — a digital wallet from MasterCard that is a component of the company’s PayPass Wallet Service.”
“This is just one example of our commitment to actively pursue opportunities to deliver innovative payments technologies to our member-owners. Delivering bold, leading-edge services ties into our master strategy called MōPRO (Member Owner Payments Revenue Optimization), which is designed to equip our credit unions to build member engagement and loyalty while expanding revenue,” said Michael Kelly, CEO of PSCU, in that release.
In an interview, PSCU executive Kim Williamson said, “PayPass can be a transformational product and what we want to do at PSCU is advocate for new payment technologies.”
She elaborated that PayPass will potentially give users a consistent shopping experience across multiple platforms, allowing customers to pay with a smartphone, online or a tablet computer.
Williamson indicated that PSCU did not have a firm release date for PayPass to credit unions and that the St. Petersburg, Fla., CUSO, working with MasterCard, currently is seeking to identify credit unions that are well suited for running PayPass pilots.
In that PSCU release, Ed McLaughlin, chief emerging payments officer, MasterCard, said, “Consumers are looking to pay for goods when, how and where they choose. Merchants want flexibility to easily accept digital payments so they can convert more browsers to online and in- store buyers. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to banks, consumers and merchants.”