Despite the headaches and hoops, banks that recognize and adapt to EMV as a new normal can win in the marketplace.
Migrating from magnetic stripe to EMV chip cards may seem daunting to some bankers, but following four key steps will help facilitate the process.
While same-day ACH transactions offer the promise of expedited payments, the need for upgraded fraud protection poses serious cost issues for community banks.
Direct Insite won the Payments Innovation Track award at BAI Payments Connect 2015 for developing a product that helps banks trim their accounts receivable costs.
2015 will see more momentum on mobile wallets, continuing progress on next generation payments initiatives and more focus on fraud and risk controls.
Real-time payments are feasible in the U.S. based on lessons learned in the U.K., according to BAI Payments Connect 2015 speaker Ann Caple.
Lessons learned while introducing remote deposit capture (RDC) services can help bankers handle the auditing requirements for mobile RDC.
Given all the uncertainties surrounding person-to-person payments, bankers would be well advised to be careful about signing long-term contracts with vendors.