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What's in Your Wallet Strategy?

April 2014 – Vol: 37 No. 4
by Karen Bankston

Many choices, many questions, as mobile wallets begin to roll out.

smartphone with a mobile wallet app open

A ubiquitous TV ad ends with the question, “What’s in your wallet?” For credit unions, the quandary is not just what position their debit and credit cards occupy in members’ billfolds, but whether and how best to help equip them with a service that may someday replace plastic payments.

Even with many questions about what form mobile payments will ultimately take, some observers suggest CUs should be following developments with this new service and weigh the potential gains in being among the first financial institutions to offer mobile wallets.

“We’re already seeing a major shift in the way our members are doing business,” readily evident in the decli…

Access is available to CUES members, CUES Director/CCUBE members, CUES Supplier members and to subscribers to Credit Union Management magazine.

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