Payments
Payments are at the core of the member experience, shaping how people move money, shop and interact with their financial institutions. As technology, regulation and consumer expectations rapidly evolve credit unions must adapt their payments strategy to remain relevant, competitive and trusted in an increasingly digital financial landscape.
Why it matters
Payments are a strategic battleground for credit unions, representing both a major source of revenue and a critical touchpoint that drives member loyalty. As competitors from fintechs and non-traditional financial institutions continue to innovate, credit unions must ensure their payments strategy aligns with their broader growth goals, risk management priorities, and member experience objectives. The speed of change in technology, regulation, and consumer behavior means that payments are no longer just about transactions—they are about positioning the credit union as a trusted, modern financial partner.
Filene delivers the latest research and insights to help credit union leaders make confident, future-focused decisions in this space. From understanding market shifts and regulatory impacts to testing real-world solutions through our incubation programs, Filene equips executives with the knowledge and resources they need to evaluate opportunities, mitigate risks, and drive competitive advantage. With Filene as a partner, credit unions can advance payment strategies that not only meet member expectations today but also anticipate the needs of tomorrow.
Research in this topic
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Report #678 | | MembersThe credit union of the future will be shaped by technology, but its enduring advantage will remain distinctly human: its cooperative model and commitment to serving people. This report offers a forward-looking perspective on how credit unions can respond to evolving member expectations, embrace emerging technologies, and strengthen the cooperative advantage that will set them apart in the future. -
Report #663 | | Members2025 FiLab Results: Cardfit
Credit cards remain one of the most powerful tools for deepening member relationships, yet most consumers still turn to big banks when choosing a card. Why? Because credit unions are often invisible in the digital comparison journey. Filene’s latest FiLab Fintech report explores how seven credit unions tested CardFit’s comparison platform to change that dynamic, and what they learned about engagement, targeting, and the hidden barriers standing between interest and approval. -
Report #653 | | MembersGlobal Payment Innovations: A Research Brief for U.S. Credit Unions
*25-Minute Read: Co-designed with the World Council of Credit Unions (WOCCU), this brief aims to deliver an in-depth report that compares leading payment innovations worldwide, analyzes the technological and regulatory drivers behind these advancements, and derives actionable lessons for U.S. credit unions by examining models and regulatory environments from selected countries. -
Report #650 | | MembersSIMPLE Payments: Six Consumer Payment Trends Credit Unions Must Embrace
The future of payments is here, and credit unions must move fast to keep up. The SIMPLE Payments framework reveals six important trends reshaping how members pay and interact with money. This brief shows how credit unions can embed payments into daily life, deliver real-time experiences, and thrive in a digital-first world.
More opportunities
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Blog |From Pitch to Proof: Inside the 2026 FiLab Symposium
At the 2026 FiLab Symposium in Kansas City, credit union leaders, fintech innovators and strategic partners came together to help shape FiLab’s 2027 testing agenda. The focus was not just on the best pitch, but on which ideas could answer meaningful questions, explore emerging technology and create useful learning for credit unions. Now, the selected solutions will move from possibility to proof through real-world testing, with the 2027 Testing Menu set to be announced in mid-October. -
Blog |Meet the 27 Semifinalists Advancing Toward FiLab’s 2027 Test Menu
FiLab's 2027 cycle drew 120+ submissions — a 39% jump over 2025 and the largest applicant pool in FiLab's history, with 77% from first-time applicants. Twenty-five fintechs and two Discovery Tests have advanced to sponsor evaluation: 27 test ideas spanning member growth, lending, fraud protection, operations, and member intelligence. Meet the semifinalists and stay tuned to see what happens when sponsors vote in Kansas City this week. -
Blog |Tokenization Trigger Points: What the June Consortia Announcements Mean for Credit Unions
Three June announcements from major payments consortia signal that tokenized money has entered a new phase. For credit unions, the question is shifting from whether stablecoins and tokenized deposits will reshape payments to who will influence the standards, economics, and infrastructure that emerge. -
Blog |Thinking Forward: Credit Unions Have a Payments Product Problem
Credit unions are committed to payments investment, but most are still asking where to start. The problem isn't technology; it's organizational structure. Siloed products, limited product development competency, and a divide between operations and strategy are holding institutions back. This blog explores the organizational signals leaders should watch for and the strategic questions that will define who's positioned to compete as payments becomes experiences, not transactions.