PSCU has announced an agreement with MasterCard to offer the MasterPass digital payment service to the CUSO’s nearly 700 Member-Owner credit unions. The payment platform will enable shoppers to more conveniently and securely perform transactions during checkout.
PSCU will initially implement the online wallet functionality in Spring 2013. In this initial phase, MasterPass provides online shoppers a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase. PSCU’s future implementation phases of MasterPass may allow consumers to go beyond plastic and use an enabled device for in-store purchase transactions.
“MasterPass empowers our credit unions to add a higher level of efficiency and value to their members’ payments experiences,” said Michael J. Kelly, PSCU President and CEO. “As more and more consumers demand versatile, mobile-based and secure ways to transact wherever they are, PSCU’s credit unions will be there to help them. This service is a key solution in establishing our Member-Owners as the most capable and relevant financial institutions for current and future members.”
Lake Trust Credit Union (Lansing, MI) has joined PSCU as a participant in testing the new digital solution. Following a prototyping and pilot period, PSCU will communicate availability of the solution to its Member-Owner credit unions.
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