FORT LAUDERDALE, Fla. — Even as they focus on improving their credit and debit card programs, credit unions should focus on building an overall strategy on electronic payments, according to a leading CU card executive.

Robert Hackney, President of Card Services for Credit Unions, the association of CUs which process their credit and debit transactions with Fidelity National Information Systems, reminded credit union card executives attending the organization's annual meeting that the steady progress over the last decade has been away from cash and checks and toward electronic payments.

According to data collected by Visa Inc, and the card brand's projections, roughly 66% of the average American's payments will be made through some sort of electronic means by end the of 2009, whether that is by credit card, debit card, electronic bill pay, ACH or other device, Hackney said.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.