As millennials’ spending power grows and Gen Z waits in the wings, banks need to learn how these groups embrace high-tech—now.
After more than a year of chip credit and debit cards in the U.S., the transition shows sure signs of progress.
Card providers can’t stop government regulation on interchange fees. But they can focus their card portfolios to make them more personal, productive and nimble.
The U.S. card industry’s move to EMV technology to combat fraud will likely accelerate because of recent data breaches, say BAI Payments Connect 2014 panelists.
With consumer loan demand anemic, banks need to focus on deeper relationships, says consultant Bill Handel.
While the popularity of general-purpose reloadable prepaid cards is growing at a fast clip, banks need to weigh the pros and cons of offering them.