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.
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.
Mobile payments is coming fast, spurred by the development of downloadable apps such as Angry Birds – little bits of money that soon add up to big money.
Mobile payments need to include prepaid options in order to provide value for underbanked consumers.
PNC President Joe Guyaux explains how an innovative approach to Gen Y customers led to the creation of Virtual Wallet.
So far, mobile payments has been slow to take off in the U.S. But one form of contactless technology is beginning to attract attention.