Payments News

On The Web

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Providers

Recovery in Card Usage Gathers Steam Among Credit-Union Members

“Even though credit card spending is still depressed as a result of the Covid-19 economic downturn, payment card volume trends have now been improving for a month or more, according to new data from credit-union service organization PSCU. St. Petersburg, Fla.-based PSCU reported Monday that overall credit card spending by members of its credit-union clients […]
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Providers

10 Charts On Credit Union Lending

“The shifting economic landscape over the past 10 years has changed the way financial institutions operate and interact with consumers. As banks and mortgage lenders pulled back following the crash, credit unions stepped in and increased lending when members needed it most. In the 10 years following the recession, the credit union industry has grown […]

On The Wires

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Providers

REPAY Announces Partnership with CU*Answers to Integrate Card Processing for Credit Unions

“Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, today announced its partnership with CU*Answers, the 100% credit union-owned, data processing Credit Union Service Organization (CUSO). As an integrated partner, REPAY will enable U.S.-based credit unions utilizing CU*Answers’ CU*BASE platform with the ability to streamline processing efficiencies by securely accepting ACH and card processing […]
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Providers

Tracking Transaction Trends

“PSCU, the nation’s premier payments credit union service organization, has updated its weekly transaction analysis from its Owner credit union members on a same-store basis to identify the impact of COVID-19 on consumer spending and shopping trends. To provide relevant updates on market performance, experts from PSCU’s Advisors Plus and Data & Analytics teams today […]
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Deals

PSCU Completes Acquisition of Primax

“PSCU, the nation’s premier payments credit union service organization (CUSO), today announced that it has completed the acquisition of the Primax business from T.K. Keith Company, Inc. Terms of the transaction were not disclosed. Based in Wakefield, Mass., Primax has been designing and providing support services for payment card programs for credit unions and community […]
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Domains

Redstone Federal Credit Union Taps Fiserv for P2P Payments

“Turnkey Service for Zelle will enable P2P payments for Redstone members. This solution streamlines the onboarding process for financial institutions, helping to reduce costs and accelerate time-to-market for Zelle, which gives members a fast, safe and easy way to send money to and receive money from those they know and trust. In addition, Redstone is adding […]
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Deals

IBM Canada and Prairie Credit Unions Team up for Digital Transformation and Payments Modernization on IBM Public Cloud

“A new Prairie Payments Joint Venture (PPJV) and IBM (NYSE: IBM) have signed an 8-year, multi-million dollar agreement to digitally transform and modernize credit union payment services in Canada. This marks the largest agreement of its kind in Canada for the credit union system. The new joint venture between the Credit Union Centrals of Alberta, Saskatchewan and Manitoba collectively represent more than 75 […]