CSCU, one of the country's leading CUSOs, recently published its latest thought leadership brief. It is titled "The Mobile Pays Environment for Credit Unions" and is designed to provide a means to understand the varying features of the mobile wallets and to give an overall picture of their position in the marketplace.

"Credit unions are scurrying to keep up with the seemingly ever-changing landscape so they can develop and adopt digital strategies that allow them to keep their payment products in the game," said Tom Davis, CSCU senior vice president, finance & technology. "They are asking themselves, should I get my own branded mobile wallet or should I just ensure that my brand is in all the pays?" Davis added. 

The brief intends to help credit unions make sense of the many elements to consider when analyzing the various mobile wallet alternatives and uses several differentiating factors to compare 11 of the most popular mobile pays. The factors used to compare are device requirements, communication, acceptance, security, active/passive, in-app purchasing, loyalty and incentives. This information is discussed and carefully outlined in an easy-to-understand matrix.