Introducing contactless cards to members
Five steps to take
Research is showing that contactless payments may have legs. If your credit union decides to move forward, here are five steps that credit unions should take to introduce contactless cards to members:
1. Do your research.
Many factors play into the decision to offer contactless cards. What’s important for one financial institution may not be as important for your credit union. Make sure you gain an in-depth understanding not only of the technology and its uses, but also of the market and how others have rolled it out successfully.
2. Make the transition natural.
Unlike with larger financial institutions, many credit unions don’t have the resources to support a “rip-and-replace” approach to transitioning to contactless payments. But the good news is you don’t have to. For most credit unions, adopting a natural re-issue strategy for contactless cards will be the best, most cost-effective approach.
continue reading »