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PSCU Financial Services Wednesday launched a campaign to help its member credit unions promote contactless debit cards to Generation Y consumers. The demographic includes consumers born between 1976 and 2000 and represents some 76 million individuals, according to industry estimates. Last year, eight credit unions started transitioning their debit card portfolios to contactless, Ron Silvia, PSCU director of debit services, tells CardLine sister publication ATM&Debit News. Some credit unions did a mass reissuance of their debit cards, while others segmented their card bases and targeted younger users, according to Silvia. "For those credit unions, contactless was about gaining the younger member," he says. PSCU expects 10 more credit unions this year to reissue debit cards with contactless applications on different scales. The average credit union member is 47 years old, according to industry observers. PSCU believes its new campaign will entice more credit unions to issue contactless debit cards to help grow membership, regardless of age. Credit unions that register by June 30 to begin the transition will receive special promotional materials and financial assistance to reissue debit cards. The program includes contactless debit cards supported by both MasterCard Worldwide's PayPass and Visa Inc.'s payWave applications. The contactless campaign comes a week after PSCU announced it will begin reselling mobile-banking services to its 1,100 member credit unions. "These services are not just targeted at Gen Y," Silvia says. "But for [Gen Y], contactless and mobile technology absolutely are fitting nicely into that segment."

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