Addition Financial among first credit unions to enable contactless debit and credit cards
LAKE MARY, FL (July 23, 2019) — The name and logo are not the only changes taking place at Addition Financial this year. Along with the credit union’s recent rebranding from CFE Federal Credit Union, Addition Financial has introduced contactless technology to its suite of credit and debit cards.
“At Addition Financial, we are always looking for ways to enhance our members’ experience. With our rebrand taking place, we felt it was the perfect opportunity to adopt the latest payment technology,” said Matt Heisey, Vice President of Digital Services.
Contactless technology, also known as “tap to pay,” allow a safe and secure method for card users to make payments. Protected by the same technology as chip transactions, contactless cards provide a one-time-use cryptographic code that can help safeguard against fraud. Contactless cards also enable faster payments at point-of-sale, often taking just two to three seconds per transaction.
Addition Financial is the first credit union to do a full mass Visa® debit card reissue through its partnership with St. Petersburg, Fla.-based PSCU with the updated software technology that includes contactless.
Implementing contactless technology will provide a more seamless member experience as this technology gains global momentum at merchants around the world. By the end of July, all Addition Financial members will have received their new contactless debit and credit cards.
About Addition Financial
Addition Financial believes in the power of transforming lives by bringing financial success and education to everyone. With a robust suite of financial services designed to meet members’ needs, the credit union serves more than 170,000 members at 26 full-service branches and 10 high school branches and is a part of the Presto! ATM network. Headquartered in Lake Mary, Fla., Addition Financial is a not-for-profit financial cooperative with more than $2.8 billion in total assets. With a legacy of more than 85 years of serving educators and supporting education, Addition Financial is the Official Financial Institution of the UCF Knights and owns the naming rights to the Addition Financial Arena on the University of Central Florida campus. Addition Financial is also the Preferred Credit Union for Seminole State College and the Preferred Credit Union for Valencia College. For more information, visit AdditionFi.com.