News from the Wire

PSCU/Co-op Solutions integrates with Amazon One

Tuesday, April 23, 2024 — 13:43:45 (EDT)

St. Petersburg, Fla. (April 23, 2024) – PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, today announced the addition of Amazon One to its suite of digital wallet integrations for client card issuers. Employing a contactless, biometric-based identity system (palm signature), Amazon One is available immediately on a pilot basis for credit unions, with general availability planned for late Q2 2024. Amazon One joins Apple Pay, Google Pay, Samsung Pay and Garmin Pay among PSCU/Co-op Solutions’ digital wallet solution set.

Amazon One is accepted at an expanding list of outlets, including select Whole Foods, Panera Bread and Starbucks locations, as well as T-Mobile Park, Coors Field, Crunch Fitness and airport stores like Hudson, CREWS and OHM.

“From cash to crypto and mobile phones to wearables, consumers now have an expansive choice of payment methods,” said PSCU/Co-op Solutions SVP, Product Experience Jeremiah Lotz. “Yet, they still love the reliability, security and perks of their go-to debit and credit cards. Issuers that make it easy for cardholders to connect their preferred cards to their digital wallets earn trust, demonstrating a willingness to invest in financial innovation without sacrificing the personal service consumers expect from their financial institution.”

Venues are now relying on Amazon One for more than payments, including entry to events and identification for rewards/loyalty program access.

“Amazon One is a great example of disruption that leverages the proven authentication strategies of established payments rails for an expanded set of digital experiences,” said Lotz. “The recent combination of PSCU/Co-op Solutions further enables us to bring best-of-breed technology and resources to help our clients compete in the financial services market. The addition of Amazon One is part of our commitment to seamlessly connect innovative providers along the payments value chain, all with a strong focus on user experience.”

Along with an enhanced payments experience, credit union members will also benefit from the additional security offered by Amazon One. Unlike an account number or password, a palm signature is nearly impossible to replicate.

“At Idaho Central Credit Union, we are excited to bring Amazon One to our membership,” said the credit union’s SVP, Operations Brandi Dye. “At participating retailers, our members are now able to sign up for Amazon’s convenient, secure, contactless payment method using the palm of their hand. Personally, I was impressed with how easy and seamless the experience is, taking just a few seconds to scan your palm and complete your purchase. We understand the payments landscape is always evolving and love bringing the latest and greatest technology to our members.”

Participation in Amazon One is also easy for financial institutions. PSCU/Co-op Solutions supports the token enrollment and all other set-up, and implementation is expected to take less than eight weeks.

For more information on digital wallets from PSCU/Co-op Solutions, visit the solutions page here.

About PSCU/Co-op Solutions

PSCU/Co-op Solutions is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America. PSCU/Co-op Solutions leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit pscu.com and coop.org.

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Source: Company press release.