LOS ANGELES (7/21/14)--CU Wallet, a collaborative, credit union owned and directed mobile payments technology provider, reported the signing of 65 credit unions, representing more than 7 million members, since the company's launch nine months ago.
CU Wallet is the industry's first mobile payments initiative designed specifically for credit unions, by credit unions. Since the company's inception, CU Wallet has forged alliances with several core, online and mobile banking providers, to facilitate integration and communication among member-facing channels.
CU Wallet credit union members can now deploy a mobile payments, mobile wallet product offering to attract a new generation of members, generate new, sustainable streams of revenue and meet the demands of mobile membership.
"Collaboration among credit unions continues to be one of our industry's greatest strengths," said Keith Sultemeier, president/CEO of Kinecta FCU, Manhattan Beach, Calif., with $3.3 billion in assets. "The CU Wallet platform makes collaboration easy and efficient, but still allows credit unions to tailor the member experience. Having a singular platform is advantageous to merchants, giving them the opportunity to reach a large pool of consumers through a trusted, secure channel."