In the "old days" (about five years ago), wallets were made of leather or fabric and held cash and plastic cards. Today, they're being swallowed by smartphones.

It's created a chaotic environment for credit unions, largely because it seems like everybody — retailers, consortiums, other financial institutions — is jockeying to stake a claim in mobile payments technology. But there are a few things experts say credit unions should know to avoid being left in the dust.

1. Retailers aren't willing to wait for someone else to supply the technology.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.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.