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CU System
IWSJI CUs banks work with Visa on digital wallets
TAMPA, Fla., and FOSTER CITY, Calif. (11/14/12)--Card Services for Credit Unions (CSCU) and Visa Inc. announced an agreement Tuesday to promote V.me--a new digital wallet service from Visa--to all of its member credit unions, and The Wall Street Journal has reported on the new service.

The agreement represents more than 11.5 million accounts, with more than one million included in the November roll out.

Earlier, Visa had announced the service will be made available to more than 50 credit unions and banks and that it would be available to cardholders using MasterCard, American Express and Discover Financial Services, said The Wall Street Journal (Nov. 13).

Credit union cardholders will be able to sign up for V.me to make online purchases, without repeatedly entering account number, bill-to and ship-to information, said CSCU.

CSCU is a credit union industry advocate in total payment solutions. Created by and for credit unions, it serves its nearly 3,000 member credit unions.

CSCU credit unions engaged with V.me include:

  • SECU, Linthicum, Md;
  • Directions CU, Toledo, Ohio;
  • MECU, ¬†Schaumburg, Ill.;
  • SCE FCU, El Monte, Calif.;
  • Community First CU of Florida, Rockledge, Fla.;
  • Michigan State University FUC, East Lansing, Mich.; and
  • Credit Union of Colorado, Denver.
Cardholders at CSCU's member credit unions can enroll their existing credit union Visa cards and other payment card accounts into V.me, and make purchases online by entering a user name and password at checkout. As V.me acceptance gains momentum at more eCommerce merchants, Visa will work with CSCU to deliver the digital wallet service to consumers.

V.me can help issuing credit unions strengthen account holder relationships, said CSCU, by offering a new service that addresses the growing trend towards shopping online. Through credit union branding and Visa-backing, account holders can shop and check out knowing they're protected by layers of security within Visa's network.


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