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Products Archive

Products

Mobile person-to-person payments catching on

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NEW YORK (11/20/09)--U.S. consumers, especially younger consumers, are embracing person-to-person mobile payments, BusinessWeek reported. Mobile person-to-person payments allow individuals to send money to others by using a mobile phone and e-mail address. The service will likely catch on with more people, and financial institutions that can make mobile payments as easy as sending a text message “are going to win,” the magazine said. Many financial institutions--including Boeing Employees CU, Seattle--have added person-to-person payments to their mobile and online banking platforms. Fiserv, a technology services provider that works with credit unions, also recently began marketing a mobile person-to-person bill payment service (BusinessWeek Nov. 23). Banking through mobile phones is relatively safe, according to Robert Varmosi, security analyst with Javelin Strategy and Research. Mobile banking is more secure than online banking because cellular networks are more difficult to hack into, he added.

Products and Services briefs (11/19/2009)

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* MADISON, Wis. (11/20/09)--UW CU, Madison, Wis., partnered with DaneCountyMarket.com to provide loan products and services for members. Potential homebuyers use DaneCountyMarket.com to search for home listings, perform competitive market analysis on available homes and learn about the home loan process. With the partnership, consumers can use UW CU’s mortgage pre-approval system so they can be better prepared for the home buying process. They also can track mortgage interest rates, read financial education articles, and access UW CU’s financial education seminar schedule. UW CU has $1.17 billion in assets ... * BOSTON (11/20/09)--Mobile Money Ventures (MMV), a provider of mobile financial services, announced that it is partnering with Digital Insight, the financial institutions division of Intuit and a CUNA Strategic Service. With MMV’s mobile solution, consumers can check their finances, transfer money, pay bills, find an ATM or branch, and check product rates from their mobile phone using a Web browser. Users can access the service by logging into their accounts, using their online banking username and password (Datamonitor News and Comment Nov. 9) ... * PORTLAND, Ore. (11/20/09)--CU Business Group (CUBG), a provider of business lending, deposit and consulting services for credit unions, donated three wagons full of toys for Oregon’s annual Credit Unions for Kids auction, generating $17,500 for area children’s hospitals. CUBG purchased the wagons and filled them with toys for Doernbecher Children’s Hospital, Sacred Heart Medical Center and Rogue Valley Medical Center, then donated the wagons to the auction. Two of the wagons sold for $7,000 each, and the third sold for $3,500. From left are CUBG staff members Mark Hayhurts, Derek Anderson, Jared Brown and Rachel Snyder. CU Business Group is based in Portland, Ore. (Photo provided by CU Business Group) ...