Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CO-OP offers mobile banking contactless card service
RANCHO CUCAMONGA, Calif. (2/13/09)--CO-OP Financial Services is offering mobile banking and contactless card payment services to credit unions. Mobile banking allows credit union members real-time access to verify balances, view transaction history and transfer funds. Credit unions can offer members mobile banking by integrating the mFoundry platform into CO-OP’s Next Generation Network switch. Credit unions do not have to change their host or home banking system to participate, CO-OP said. Mountain America CU, West Jordan, Utah, adopted mobile banking three years ago and is partnering with CO-OP to offer the service to members. “We knew mobile banking would pick up in a big way, and we didn’t want to lack the ability to compete,” said Tony Rasmussen, Mountain America senior vice president. CO-OP’s contactless payment service will debut during the Credit Union National Association Governmental Affairs Conference Feb. 22-26 in Washington, D.C. The service supports MasterCard’s PayPass service. CO-OP plans to support other payment forms, such as key fobs, watches or stickers. Contactless card payments do not require physical contact between the payment device and point-of-sale terminal. The consumer holds the card or device near the terminal, and the transaction is communicated through a radio frequency. Money is then debited from the consumer’s account. CO-OP, based in Rancho Cucamonga, Calif., provides ATM network access, processing, debit and credit card services, and shared branching to credit unions.


RSS print
News Now LiveWire
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
45 minutes ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
1 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
1 hours ago
.@MICreditUnions is recruiting member #creditunions to participate in a campaign to help state residents thrive in retirement.
1 hours ago
#NewsNow: How @MyCUgov makes financial education resources available (Pt1 in a 2-Pt series) http://t.co/XzvD5sj8Am
1 hours ago