First Data system being offered client credit unions and banks.
While it remains too early to declare victory, there are signs that credit union credit cards are poised to move from the background of credit union lending to take a position closer to the spotlight, according to industry card specialists.
Few people have ridden the growing wave of mobile banking – or perhaps helped drive it – more than Drew Sievers.
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.
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.
Consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year, according to card processor First Data. But the firm credited inflated prices for the increase rather than an increase in purchases.
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.
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.
Iowa agent issuer wins the business the $5 billion Mutual of Omaha Bank.
For credit unions and banks vying to be the primary financial institution, understanding and delivering products and services based on consumers’ needs has always been a priority.