Los Angeles-based CU Wallet, a Credit Union Service Organization (CUSO) providing the industry’s first credit union driven mobile payments application, and Relevant Solutions have inked a strategic alliance integrating merchant offers and promotions with CU Wallet’s mobile wallet.
This integration gives CU Wallet member credit unions the ability to deliver promotions and offers from more than 750 national merchants, as well as local retailers directly to members.
According to the recent DigitasLBi Connected Commerce Study, the number of consumers that use their smartphone in-store has risen from 72 percent a year ago, to 85 percent as of May 2015. The same study reported that 71 percent of consumers would like to receive personalized money-off vouchers or special offers on their smartphone.
CU Wallet combines proven entrepreneurial talent with credit union ownership to offer a comprehensive, industry-wide, winning mobile wallet solution. The initiative is structured as a CUSO, majority owned and controlled by credit unions, in partnership with founder and CU Wallet CEO, Paul Fiore, most notably recognized as the pioneer of online banking (formerly the founder and CEO of Digital Insight)..
The CU Wallet mobile wallet solution focuses on adoption, deployment and ongoing management of mobile device banking, payments and security. The platform helps overcome major industry hurdles to mobile payments adoption, allowing credit unions to better serve current account holders, attract a new generation of tech-dependent members and better compete amongst increased competitive pressure from non-bank mobile payment ventures.
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