6 Benefits of Core-Integrated Card Payment Solutions for Credit Unions

By Preston Packer |

May

24

Credit cards play a critical role in credit unions' consumer lending strategies, but many credit unions have hesitated to switch to in-house cards. This has mostly been due to the unique characteristics of credit cards and inadequate core systems. However, today's credit unions must rise to the challenge and implement an efficient card management system, which will ultimately benefit both their CU and its members. Throughout this article, we'll show you the top six key advantages of a core-integrated card payment solution.

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Eliminate Debt and Simplify Card Payments for Your Credit Union Members

By Preston Packer |

May

18

Did you know that, according to 2021 fourth-quarter data from the Federal Reserve Bank of New York, Americans have over $856 billion worth of credit card debt? The amount rose tremendously from the third quarter of 2021, increasing by $52 billion. It is the most significant quarterly increase the U.S. has seen within the past 22 years and the third and only spike since the start of 2020.

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Setting Up Small Businesses For Success With Merchant Card Services

By Preston Packer |

May

10

As a credit union, it's imperative that you offer merchant card services to local small businesses. Why? Because credit card payment processing is at the very core of small-scale companies, and of course, one of your credit union's goals should be to help them prosper.

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Differentiate Your Credit Union with a Differentiated  Card Payments Strategy

By Preston Packer |

May

05

Today, consumers have access to more ways than ever to pay for goods and services. Whether it's convenient Buy Now Pay Later (BNPL), Cash App, Venmo, PayPal, or embedded payments—they all represent easier, frictionless payment methods for consumers. But that's not all they share in common: they all pale in comparison to the popularity of credit and debit card solutions.

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4 Digital Solutions For the Evolving Payment Landscape

By Preston Packer |

Mar

29

In a not-so-distant past, digital payments revolutionized commerce. Today, however, commerce is poised to revolutionize the way money is moved. From manual and paper-based, payments are speeding toward automation, paperless, cloud-based solutions to simplify the buying and selling process.

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Innovative Credit Union Payment Trends to Watch in 2022 - Part 2

By Preston Packer |

Mar

03

The financial world has already seen and will continue to see more competition in 2022, especially in regard to payments. Between the influx in buy now, pay later (BNPL) payments, and consumers' desire for faster, easier transactions, it's safe to say that rivalry is at an all-time high.

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Innovative Credit Union Payment Trends to Watch in 2022 - Part 1

By Preston Packer |

Mar

01

The world of payments is on a fast-paced roller coaster to an all-digital destination. The already speeding locomotive received a jolt of energy via COVID-19, which further increased the demand for digital, online, contactless, frictionless, and speedier payments. While most generations show an interest in digital payments, it comes as no surprise that the largest push is being generated from the rear.

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Integrating Credit Card Processing with Your Credit Union

By Preston Packer |

Nov

06

To date, credit unions have been faced with the choice of providing credit card processing in-house or outsourcing. Historically, only big credit unions ran in-house credit card processing. Smaller CUs shied away from credit card processing due to a variety of factors: It was expensive to do so in-house, and outsourcing was often difficult to integrate with the core. Furthermore, the rewards programs were not up to par with those of banks and larger FIs, which made them less desirable to members. Now, with increases in integration capabilities and decreases in cost, credit unions of all sizes are incorporating integrated processing capabilities. Here’s why credit unions big and small have opted for integrated credit card processing.

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