The St. Petersburg, Fla.-based PSCU announced it is expanding its digital wallet offerings to include Masterpass by MasterCard and Microsoft Wallet. The CUSO plans to make the wallets available by September.
Members can utilize Masterpass in the checkout process and with purchases online, in-app and in-store with one secure account. Members are required to register online and load their credit union's MasterCard credit or debit card. Members can also store their cards and shipping information to make it easier to shop online, in-app and at more than a million store locations.
The digital wallet includes multi-tiered security to help keep members' information private when they shop at online merchants or store locations. When members pay using the Masterpass Android app, the merchant only receives a unique number instead of actual card details, which helps keep their information protected.
PSCU said it would automatically enroll owner credit unions in the Masterpass digital wallet that have executed MasterCard Digital Enablement Service agreements through the CUSO unless they choose to opt out of Masterpass participation by Sept. 1, 2016. The CUSO said it will also offer owners access to Microsoft Wallet, a new, cloud-based mobile payments service. Members in the U.S. with phones running Windows 10, including the Lumia 650, 950 and 950 XL, can tap to pay for purchases at retail locations any time they see the contactless NFC payment symbol or the Microsoft Wallet logo at the POS.
Microsoft Wallet supports credit union credit and debit cards from MasterCard and Visa.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
