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Whether contactless or chip-enabled, credit and debit cards continue to dominate the payments market in terms of perceived speed, ease, and preference.
In this episode of the CUNA News Podcast, sponsored by Fiserv, David Cencula, director of strategy within Fiserv’s banking and payments division, examines everything from consumers’ top-of-wallet card choice and mobile money movement to third-party tools and fraud prevention.
Cencula says members want tools and information that give them control over their financial lives. With the right strategy and products, he says, no form of payment provides that flexibility better than debit and credit cards.
In this episode:
1:52: David’s background
2:29: How credit union members are making payments
4:40: Difference in uses between debit and credit cards
6:33: The state of cash
8:44: The state of checks
9:50: The importance of rewards programs
11:10: Top-of-wallet strategies
12:40: Member control trends
15:00: Demographic preferences