Adapting your payments to today’s consumer behavior

by The CU Lab

In this episode, we’re talking about how to align your payments strategies with shifting consumer behavior. This process is more complex now than ever before, as credit unions face a slew of pandemic-related revenue disruptions. Gain insights on recent data, shifts in the payments landscape, and how to address upcoming deadlines in critical vendor contracts.

Key Takeaways:

  • [02:41] 51% of consumers are now using contactless.  Credit unions need to make sure contactless is no longer a luxury item that is not going to be used.
  • [06:43] Education is going to have a big role moving forward especially with senior members. What mobile offering are you going to have for them and how are you going to educate them on the offerings?
  • [12:21] The chances of fraud are higher because a signature or pin is not required, so look at the contactless transfer limit you have on cards and provisional limit.

 

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