WARSAW, Poland–This country’s National Association of Co-operative Savings and Credit Unions said it has been working with its member CUs to limit direct contacts between employees and members, and in the process identified an opportunity to reduce the level of digital exclusion and bridge the technological gap.
According to the World Council of Credit Unions, which shared a blog posting by NACSCU, the trade group has intensified and accelerated work on technological innovations.
“We also worked with our credit unions to educate their members, concentrating on the popularization of remote account handling through internet channels and mobile applications,” NACSCU said.
NACSCU further reported its credit unions began recommending members use contactless and non-cash transaction services and promoted payment cards as a safe way to make payments and settlements in a pandemic.
Credit union members who decided to activate an account through online channels or mobile applications and use payment cards were able to conduct all of the transactions they otherwise would have done via a branch.
Other Remote Capabilities
NACSCU said it has also prepared to provide remote capabilities to its credit unions through phone and internet channels, allowing them to provide more remote services.
According to the trade group, the height of the pandemic in Poland stretched from the second half of March until the end of April.
“During that time, we observed high interest from our credit unions in issuing payment cards, and in utilizing online and mobile transaction systems,” NACSCU said. “Credit unions encouraged members to obtain and use payment cards. They also encouraged members who had payment cards, but did not actively use them, to start doing so. The Polish credit union system was one of the first to implement and allow for a higher amount of contactless transactions that do not require PIN authorization. As a result of all these efforts, more payment cards were issued to Polish credit union members during those two months than in all of 2019. That caused a large increase in the number of digital payment transactions as well.”
Two Projects
Meanwhile, while that was taking place NACSCU said it completed two important projects. The first was to develop a multicurrency payment card, which credit unions started offering to members on June 1. The multicurrency payment cards have the same functionality of debit cards with competitive exchange rates for payments in foreign currency. Multicurrency payment cards are also ecological, with all components made from recyclable, natural materials, NACSCU said.
The second project, called “Paybynet,” focused on the implementation of fast, simple and safe tax, administration and internet shopping payments. Credit union members can now make the same fast, safe transfers as clients of other financial institutions that serve the Polish market.
“It further reduces the technological gap between banks and credit unions in Poland and allows credit union members to make safe transfers, which is crucial during the pandemic,” the organization said.