Debit Card White Paper Now Available for Credit Unions

The phenomenal growth in debit card usage presents great potential for credit unions, but at the same time it challenges them both competitively and in terms of risk. A new white paper from TNB Card Services explores the world of debit and helps credit unions better leverage their opportunities and overcome their challenges.

Titled “Debit Cards: Survival and Success in a Changing Market,” the 12-page, in-depth guide is available in an electronic version on the TNB Card Services website. It is the newest in an ongoing series of papers addressing the most pressing payment issues facing credit unions. TNB, a credit union-owned leader in credit and debit card processing and agent issuing for credit unions, is dedicated to providing a service to the industry by advancing awareness and understanding of major business issues.

“This white paper clarifies for credit unions the strategies they need in place to compete for their members’ debit card business with the major issuers and other competitors,” said Glen Lee, first senior vice president of TNB Card Services. “It also emphasizes how important it is for credit unions to apply the same risk management and marketing tools with their debit card programs as they do with their credit card programs.”

One of the key sections of the white paper addresses debit card fraud and how to fight it. By using anti-fraud methods such as neural networks 24×365 to analyze transaction patterns, monitoring both PIN and signature debit transactions, and making use of the Card Verification Value and Card Validation Code data, the impact and scope of fraud losses can be reduced.

The white paper also examines the background of debit cards and their growth, weighs the pros and cons of PIN and signature debit for cardholders and credit unions, and offers useful advice on keeping pace with the competition.

The Debit Cards paper is available upon request from TNB Card Services online: https://www.tnbcard.com/White%20Papers/Debit/Default.asp. Previous white papers, still available online, have focused on the advantages of selling or holding onto a credit card portfolio and effective card portfolio management.