EMV conversion and the new vendor arrangements that come with them are making many credit unions question whether they're getting the best prices from vendors, and according to some experts, the answer is probably not.
Debit processing, for example, is one of the most overpriced services right now, according to Bob Roth, who is managing director of vendor management and payments at Cornerstone Advisors in Scottsdale, Ariz.
"We see a spread of almost five to one between the top provider – the most outrageous pricing – and market," he said. "In core, that's probably about two-and-a-half to one," he said. "Now that's the variation between market's best and worst. You would never see that in core, or Internet banking or anything else."
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