Credit unions are not at a disadvantage when it comes to attracting new members. On the contrary, they have many advantages over their larger counterparts. But there is one area where credit unions need to catch up: accepting mobile payments. More and more people are using their smartphones for everything from banking to commerce, so it’s time that credit unions get on board with this trend.
If you’re a credit union looking for ways to increase member satisfaction while reducing business costs, then don’t miss these three reasons why your institution should start accepting mobile payments now!
Why Accept Mobile Payments
More than half of Americans now use mobile banking, and a whopping 84% do at least some shopping on their smartphones. This means that your members are more likely to have access to the funds they need when it’s time to make a payment – even if you’re not open! In addition, with instant notifications and no long wait times, your members have the freedom to make a payment when it’s most convenient for them.
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