article thumbnail

NY Fed: Credit Applications, Acceptances Plunge During Pandemic

PYMNTS

A new survey has revealed the steep plummet the consumer credit market took as the pandemic began, the Federal Reserve Bank of New York reported. The Federal Reserve Bank of New York’s Center for Microeconomic Data released results on Monday (Dec. Debit card spending, however, was up.

article thumbnail

Today In Digital-First Banking: Paya To Buy The Payment Group; Purdue Federal Credit Union Taps Payrailz For Payment Services

PYMNTS

Purdue Federal Credit Union Selects Payrailz For Payment Services. Purdue Federal Credit Union has selected Payrailz for payments services. Purdue Federal is also joining CU Railz, Payrailz’s credit union service organization (CUSO), as a backer.

article thumbnail

Credit Unions Find ‘Co-opetition’ Key To Closing The Innovation Gap

PYMNTS

One such innovation comes from credit union service organization (CUSO) PSCU , which recently released a desktop automation system to optimize CU call centers. million members in 2009 to 119.6 million in 2019. New technologies are being developed to continue this market growth.