Even as the U.S. makes initial moves towards a real-time payments system, industry experts acknowledge that the transformation will be slow.
By proceeding cautiously in mobile banking, banks are following the same prudent course they pursued with remote deposit capture.
Panelists at the upcoming BAI Payments Connect say the fragmented P2P market needs to evolve to a bank-centric model.
Although remote deposit capture (RDC) for commercial use has soared in recent years, banks remain cautious about offering the service to consumers. Mobile RDC should revise that outlook.
Bankers Dominic Venturo and Marc Warshawsky discuss the promise and difficulties related to developing and implementing a mobile wallet payment solution.
Visa’s new push for chip payments technology, combined with recent regulatory restrictions on debit interchange, will likely spur improvements in payment card security
Jumpstarting mobile payments in the U.S. will require cross-industry partnerships such as Google Wallet, says the Smart Card Alliance’s Randy Vanderhoof.
Consumer remote deposit is gaining ground but faces potential market and security limitations.