LAS VEGAS (10/9/13)--CU Wallet, a mobile payments initiative designed specifically for credit unions by credit unions, announced agreements with three vendors at the MONEY2020 conference in Las Vegas.
CU Wallet selected Paydiant to provide the platform for its mobile wallet solution. With Paydiant, CU Wallet will integrate complete mobile wallet capabilities into its own mobile application, including contactless mobile payments, e-receipts, redemption and cardless cash access on existing payment terminals, point-of-sale systems, ATMs and online shopping carts.
The Paydiant platform is deployed in partnership with card-issuing financial institutions, retailers, restaurants, merchant processors, debit/ATM networks and POS providers Paydiant's platform works with existing smartphones, POS systems and payment terminals, including entry-level countertop devices.
CU Wallet also announced partnerships with technology providers DoubleBeam and CheckAlt.
CU Wallet is integrating DoubleBeam's mobile payments software development kit, giving credit unions the ability to "onboard" members by simply taking a picture of a blank check and photo ID.
CheckAlt's mobile payment processing solution will provide credit unions with end-to-end processing.
Fifteen credit unions, ranging from $400 million to more than $5 billion in assets, representing more than two million members nationwide, have signed agreements with CU Wallet.