TAMPA, Fla.- Little more than a month after Visa announced 50 FIs, more than half of them CUs, had launched its V.me new digital wallet service, card processors are reporting strong credit union interest.
"We've seen a strong response for V.me from our credit unions. As the landscape continues to evolve, it's important for credit unions to engage in the mobile payments space with their members," said Cassie Melvin, VP marketing at CSCU. "V.me is an effective way for credit unions of all sizes to do just that."
In Des Moines, Iowa, Brandon Kuehl, TMG product development architect said, "Since rolling out V.me for TMG financial institution clients, we've seen significant interest from our Visa members. As credit unions look to position themselves competitively in the payments space, we predict most Visa-issuing CUs will sign up for V.me within the next 12 months. It's important to note V.me is only one of several payment innovations CUs will be considering next year, as it's becoming increasingly important to offer members multiple ways to transact."
V.me frees online shoppers from having to repeatedly enter account numbers, bill-to and ship-to information at checkout. Once logged into V.me, all that's required to make a purchase is a click of a mouse, a touch on a mobile browser, or in the future, a wave at the physical point-of-sale.
"Brand presence, particularly in the emerging mobile channel, is essential to keep credit unions at the center of their members' lives," Michael Kelly, said president and CEO of the St. Petersburg, Fla.-based PSCU.