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CU Snapshot

 Aug '17Jul '17
# of CUs5,708 5,893
Members
(millions)
112.7112.2
Total Assets
($ billions)
$1,372.1$1,383.7
Total Savings
($ billions)
$1,158.6$1,165
Net Cap.
Assets
10.8%10.7%
Loans to Savings82.3%81.5%
Loan Delinq.0.8%0.7%

         Credit Union Indicators

Contactless Payments Gaining Traction

Apple and Samsung will drive growth this year.

The number of global consumers making contactless payments through their mobile devices will reach 148 million this year, and financial institutions are expected to play a key role in the widespread growth, according to Juniper Research.

Smartphones enabled with near-field communication will be the primary initial driver of contactless payments in the U.S. Apple and Samsung together account for nearly 70% of new customers.

With nearly one in five point-of-sale terminals in the U.S. now contactless-capable, the infrastructure is in place for that market to gain traction, according to Juniper.

The research also anticipates that financial institutions will widely deploy models based on host card emulation (HCE). Juniper notes more than 50 financial institutions had already deployed HCE, which stores credentials and other sensitive data in the cloud.

(Via news.cuna.org)