Debit and credit cards may not have phased out cash and coins, but CU Wallet might just bumped all of them out of the commerce game once it gains its footing. It is a credit union-owned digital wallet that will enable retail point of sale transactions. With more than 20 credit unions under its belt already, CU Wallet is already gaining a lot of support.
Founded by digital banking pioneer Paul Fiore and Ongoing Operations CEO Kirk Drake, CU Wallet has also teamed up with Massachusetts-based mobile wallet developer Paydiant, which has tools that have work with existing retail infrastructures and cellphones. With no need to buy new hardware to accept and use CU Wallet, its implementation into modern society is even more convenient. CU Wallet also hopes to introduce unique rewards, offers and discounts in the near future.