Press
PSCU credit unions enable members to use Apple Pay
ST PETERSBURG, FL (January 9, 2015) – PSCU announced today that MasterCard cardholders with a consumer credit or debit card from Virginia Credit Union or Consumers Credit Union now have access to Apple Pay, which transforms mobile payments with an easy, secure and private way to pay. The credit unions are enabling members to pay in participating stores with iPhone 6, iPhone 6 Plus and Apple Watch, upon availability. Within apps, Apple Pay is compatible with iPhone 6 and iPhone 6 Plus, iPad Air 2 and iPad mini 3. Apple Pay is easy to set up and members will continue to receive all of the rewards and benefits offered by MasterCard and their credit unions.
“Our current and future members expect us to offer the latest in mobile payments and security, and being able to offer them Apple Pay as another payment option is a key part of our ongoing commitment to meeting their needs for relevant, timely and convenient services,” said Jane Watkins, President, CEO of Virginia Credit Union. “This is a major project with many moving parts that we could not accomplish without the resources of a partner like PSCU.”
“Consumers is proud to be on the forefront of new technology that continues to increase peace of mind and ease for members,” said Kit Snyder, President, CEO, Consumers Credit Union. “We pride ourselves on helping people from all walks of life bank how they want, when they want. Apple Pay, through our partnership with PSCU, is one more tool we have to bring to our communities to enhance their banking experience.”
Security and privacy is at the core of Apple Pay. When you add a credit or debit card to Apple Pay, the actual card numbers are not stored on the device or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of your card.
“In today’s connected world, consumers want to be able to shop with confidence where they want, when they want and how they want – including increasingly via a mobile device,” said Matt Barr, group head, U.S. Emerging Payments, MasterCard. “With Apple Pay and the
MasterCard Network, consumers are provided all the rights and privileges of a genuine MasterCard transaction through a simple, secure and private payment experience.”
Virginia Credit Union and Consumers Credit Union represent the first wave of PSCU Member- Owner credit unions to go live with Apple Pay with many more slated to go live throughout 2015.
About PSCU
Established in 1977, PSCU (St. Petersburg, FL) is the nation’s leading credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. The company is owned by over 700 member credit unions representing 18.5 million credit, debit, prepaid, online bill payment, mobile and electronic banking accounts. Comprehensive 24/7/365 member support is delivered through four Contact Centers located throughout the United States that handle more than 18 million inquiries a year.