Apple Announces Mobile Payments System

Apple Pay, Apple’s new mobile payments system, will allow customers to use their iPhones to checkout at participating retailers, using cards from participating financial institutions.

CSCU Answers Questions about Credit Card Surcharges

Late last month, merchants in the United States were granted the ability to impose a surcharge on credit card transactions, giving businesses a piece of the interchange pie while leaving consumers and financial institutions with a sea of unanswered questions.

Compliance Question of the Week

If our member gave someone his credit card number to make an online purchase and that person takes the number and purchases several other times against the Visa, what is the credit unions liability? Would we have to refund the member for the purchases that were made with the Visa, or would the member need to take action against the person who made the transactions against their account?