Card processor says 62% of its client respondents cited fraud reduction and MasterCard/Visa liability shift for planned move away from mag stripes.
Watching other issuers implement chip and PIN could result in increased fraud exposure, attendees told.
Jeff Russell, longtime card executive and innovator with TMG Financial Services, is leaving the card business to take a position as CEO of a dental insurance firm.
A pictorial look at the opening day of THINK 13 in Chicago.
CHICAGO — More than 550 executives from 329 credit unions, CUSOs and other firms have gathered this week at the Swissotel in Chicago.
Jeff Russell had steered TMG Financial Services in Des Moines, Iowa.
Just when it might become more important than ever to be able to track the interchange that debit transactions generate for credit unions, many, if not most, may have not begun to uncover their debit programs’ bottom lines.
Awareness and ownership, risk vs. reward and know thy members. All this can pay off in the card portfolio, these experts say.
Shareholder distribution from big CUSO jumps 73% from year before.
A new policy and fee structure from Visa are having a significant impact on the already complicated debit interchange market and, in some cases, are making that market more difficult for credit unions to navigate, according to payments executives.