ST. PETERSBURG, Fla.–CSCU is introducing a new digital card application that it said will gives its members innovative mobile wallet capabilities, extending the services cardholders value most.
CSCU said the solution will provide credit unions the opportunity to offer their members an issuer-branded app providing cardholders on-the-go access to features such as balance alerts, transaction alerts, and easy card management.
“Cardholders are increasingly mobile, and digital capabilities are playing an important role in their choice of financial services providers,” said Bob Hackney, president, CSCU. “We are excited to partner with FIS to exceed the needs of credit unions and their members. The innovative technology powering our offerings will help credit unions support their members with a more secure and efficient payments experience while using credit, debit, or prepaid cards.”
The company noted that as smartphone usage and mobile payments continue to grow, the app is a natural complement to a credit union’s digital strategy to grow member loyalty and payments-based revenues on Android devices, such as Samsung phones. In addition, the app provides cardholders the ability to view available balances and see transactions in real time. Also included are card controls—such as location match, the ability to suspend a card in real time from any device, and push notifications—that help cardholders approve transactions and fight fraud, CSCU said.
“Since 46% of smartphone owners say their phone is something ‘they couldn’t live without,’ we’re providing them with the ability to manage their cards on the device they increasingly use the most,” said Tom Davis, senior vice president of finance and technology, CSCU.
The CSCU digital card app is currently in development and will be offered to CSCU members in late 2016.