The world’s unbanked number in the billions, but the potential bank revenue? Hundreds of billions.
Millennials aren’t yet sold on mobile payments, but banks can start singing their tune with loyalty perks and speedier transactions.
The first mobile check deposit services appealed to techies. Now banks promote the user friendliness of revamped services as they tackle frustrations such as low deposit limits.
Emerging payment technologies will gain ground in 2017. Some represent competition and risk for banks, but others may help them get in on the action.
Experts say it’s time to ring out the old paper statements, and ring in the new possibilities in two-way video, for starters.
Even as the U.S. makes initial moves towards a real-time payments system, industry experts acknowledge that the transformation will be slow.
To help increase the use of mobile wallets by consumers, banks should consider beaming technology that can transmit barcodes into the POS system.