In this Focus Report on payments, advocates of digital wallets offer the latest update on where the technology stands within the credit union industry.

While some are embracing the innovative payment method, others are still reluctant about bringing the service to members.

(Click on image at left to expand.)

Overall, the adoption of digital wallets has been slower than predictions made a few years ago but wide acceptance could still be on the horizon.

The Federal Reserve banks may be among those entities that are encouraging a shift away from traditional paper checks. The CEO of the Federal Reserve Bank of Cleveland shared how collaboration will help make the transition a smooth one.

In exclusive content to Credit Union Times' readers from the Filene Research Institute, credit unions are urged to not to take a “wait and see” approach when it comes to new forms of payment channels.

In that report, “Innovations in the Payment Ecosystem,” Filene takes an in-depth look at making sense of critical payment trends and identifying opportunities for profiting from future innovation.

Read the entire payments focus report:

Digital Wallet Year-End Update Reveals Mixed Results
Evolution from Checks Takes Collaboration: Guest Opinion

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Focus Report: CU Times on Digital Wallet Reluctance

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