Credit Union Members Shift Toward Digital Payment Tools

A new industry report highlights growing consumer reliance on digital wallets and contactless payment technologies.

Updated on Oct. 21, 2026 in Credit Cards

Credit Union Members Shift Toward Digital Payment Tools

Live Poll

Do you find that modern digital payment tools make managing your personal finances easier?

The 2026 Eye on Payments study from Velera reveals that credit union members are increasingly prioritizing digital payment tools. Weekly digital wallet usage has surged among members since 2022 as consumers look for more control over their spending.

Why it matters

Understanding how consumers interact with financial tools is essential for institutions trying to manage money effectively for their members. The study highlights a tension between the adoption of digital convenience and widespread skepticism regarding AI-driven automation in financial transactions.

Weekly digital wallet usage has risen to 42% in 2026, up from 11% in 2022. Additionally, 85% of members report having a contactless credit or debit card, while 25% of consumers indicate they hold or have held cryptocurrency.

The players

Velera

Velera is a financial services company that provides payment processing and technology solutions for credit unions.

The details

Consumers are actively managing their financial choices by selecting specific payment methods, including digital wallets, to maximize benefits and control their spending. While many have adopted digital tools, 59% of members remain uncomfortable allowing AI systems to execute transactions on their behalf.

2022: Weekly digital wallet usage was 11%.
2023: 39% of members said card appearance influenced usage.
2025: 49% were uncomfortable with AI purchasing.
July and August 2026: Velera conducted the survey.
October 21, 2026: Velera released the Eye on Payments study.

Market Dynamics

The move toward digital-first payments follows a consistent trend of consumers abandoning traditional cash in favor of integrated digital ecosystems. This shift forces financial institutions to balance the demand for modern, contactless convenience against consumer data privacy concerns.

Consumers are gaining greater control over their spending by leveraging digital wallets to manage multiple payment methods. While fraud resolution satisfaction remains high at 77%, the increasing reliance on digital tools necessitates continued vigilance regarding security and personal account access.

The takeaway

Consumers are increasingly integrating digital wallets into their daily spending routines to gain better control over their financial management. While technology usage is growing, many remain cautious about delegating transaction authority to artificial intelligence.