From Darics To Dollars

Anticipate consumers’ next payment forms with the help of Technology@CU.


If you’ve been feeling overwhelmed by the rapid proliferation of new options in the payments space, take comfort in the fact that it has been a convoluted, multifarious, competitive mess since the beginning. 

It all started with bartering. With no set monetary values, convenient transactions were out of the question. After all, who’s to say your chicken is really as good as my water jug? Perceived value was determined by the buyer and seller on a case-by-case basis.

Then came cowrie, small shells that were used for purchases across Asia, Africa, and some areas of what is now the Middle East. These were later replaced with different currencies that developed across the globe, from metal ingots, to ringed metal spades carried on a string, to the first coins, and, eventually, to paper money. You know the rest.

Whether you’re old enough to remember the arrival of magnetic stripe technology or young enough to never know shopping and shipping from online retailers weren’t always options, we’ve all seen shifts in the way people buy and sell. Now, there are more game changers on the way.

As credit unions, the challenge is to not only do a better job with the payment tools consumer are using now, but to prepare for the options they’ll want tomorrow. Callahan & Associates’ latest Technology@CU can help.

Start in the Mainframe to learn where leaders and consumers are focusing in the payments space, then read about CoVantage Credit Union’s CIO as he explains the credit union’s exciting new mobile wallet initiative.

Head to Workstations to maximize the impact of your current channels with our coverage of card portfolio management, regulatory and security issues, instant issuance, and debit optimization.

And as you plot your course for the next year, and the next decade, look to our partner’s highlight of the mobile wallet space, discover how to match evolving payments services to a range of age demographics, and put your bill pay data to better use. Take a visual deep dive into card technology around the world and embrace the artistic value of card designs in our Pixels section. And if you’re ready to take some initial steps forward, look to our Buyers Guide to find potential partners whose expertise can complement your own.

Identifying and investing in the right payment strategies can be complex, but no credit union wants to be stuck offering seashells when the rest of the world is using something new. Pick up a copy of Technology@CU to see how these evolving preferences can benefit your credit union.


June 27, 2012

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Payments Technology



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