Opinions about the future of payments run in a million different directions. But amid the chaos and cacophony of studies, surveys and data, there is one common refrain: Debit and credit card programs are no longer just handy revenue streams for credit unions; they're becoming the primary connections credit unions have with many of their members.

Credit union industry players such as CO-OP Financial Services already sense this fundamental shift, and it's changing how they think about strategically managing card programs. In a recent whitepaper and in an interview with President/CEO Todd Clark, the Rancho Cucamonga, Calif.-based company highlighted five ideas credit unions can use now to boost their debit and credit programs in the coming year.

1. Prioritize Digital Card Use

Shifting shopping habits have suggested that in 2020, persuading members to connect a particular card to an online shopping account, retailer app or bill payment system may be far more important than persuading them to keep a particular physical card within arm's reach. Analytical services firm Juniper Research, for example, recently forecasted that consumer spending via digital wallets will rise by a whopping 40% in 2019, largely driven by in-store payments. What's more, traditional financial institutions may lose as much as 15% of their payments revenue – $280 billion – over the next six years to fintech competitors, free payments and third-party mobile wallets if they don't keep up, according to an Accenture survey of 240 payments executives at banks in 22 countries.