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CU System
CUs down under exploring mobile payment platform
CANBERRA, Australia (7/17/12)--A group of more than 20 Australian credit unions is meeting, along with mutual banks, to explore providing a mobile payment platform to its members.

Credit Union Services Corporation Australia Limited (CUSCAL), the group's collectively owned electronic banking transaction provider, is facilitating the meetings (The Australian July 17).

The meetings are in the early exploratory stage, a CUSCAL spokeswoman told the newspaper.

Credit unions are looking at the new payment platform to elevate mobile banking services and to prevent younger members from leaving for major commercial lenders, the paper said.

It is believed the group is assessing Google's Android-based mobile platform Google Wallet as one of the potential payment systems, the paper said.


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