The 11,000 members of the True North Federal Credit Union, headquartered in Juneau, Alaska, have responded strongly to a targeted offer centered on the credit union's Platinum Visa card.
The 11,000 members of the True North FCU in Alaska responded strongly to a targeted offer from their credit union's Platinum Visa card.
First Data's monthly analysis of card transaction data suggests consumers used their cards more in December 2011 than they did in December 2010, but that they spent only the same or less money.
New program will reward prepaid loyalty.
Even though the weekend after the Thanksgiving holiday last year had pretty strong sales volume, card processor First Data reported that the same weekend this year posted even stronger sales gains.
First Data Corp. says consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year but the firm credited inflated prices for the increase rather than an increase in purchases.
When considering how to save money in the back office, some say too many credit unions retreat from looking carefully at their credit and debit card program, often believing the portfolios are too complicated to understand or manage more efficiently.
Despite the documented ability of smart chips to cut fraud losses, experts say some credit unions and CUSOs have not moved very quickly to start issuing credit and debit cards enabled with the higher tech chips.
Vantiv LLC has signed three more credit unions for credit card processing services.
Now that regulations implementing the Durbin amendment are finalized–at least for the short term–credit unions have to decide how many debit networks they want and if they have to join any.