For faster payments, a rapid state of change

Faster Payments. For all the talk leading up to and following the July 2017 final report of the Faster Payments Task Force, how many of us actually make or receive a faster payment on regular basis? The truth is, not that many bank and payments customers seem to execute very many faster payments. So will that change? In Read More

By |2020-05-27T17:58:32-05:00July 31st, 2018|Comments Off on For faster payments, a rapid state of change

Why foreign exchange fees for credit cards need to be curbed

Sometimes industry self-regulation does a better job protecting consumers than government regulation does. The only viable way to curb outrageous and deceptive credit card foreign exchange fees is for the payments industry to police itself. Anyone traveling abroad using a credit card has been invited to pay in their home currency. It’s familiar. Most travelers accept the Read More

By |2020-05-27T17:58:34-05:00June 29th, 2018|Comments Off on Why foreign exchange fees for credit cards need to be curbed

How banks can navigate a post-EMV chip environment

The next time you look at the chip on your debit or credit card, consider this: We will soon mark the three-year anniversary of the EMV liability shift for point-of-sale transactions in the U.S. The U.S. was the last major market to switch to EMV, a technology that has transformed the payment process for retail organizations; financial Read More

By |2020-05-27T17:58:34-05:00June 6th, 2018|Comments Off on How banks can navigate a post-EMV chip environment

How community banks can mobilize for mobile payments

When the senior executives at Citizens Bank of Edmond, Oklahoma first considered signing up for Apple Pay nearly three years ago, the scenario resembled that faced by other community and mid-sized banks: lots of obstacles ahead. Not many retailers accepted Apple Pay—or similar mobile point-of-sale services—just yet. For starters, he upfront cost was high. Nor did the Read More

By |2020-05-27T17:58:39-05:00February 28th, 2018|Comments Off on How community banks can mobilize for mobile payments

How to handle questions about cryptocurrency from your customers

If you talk to your customers for any length of time, the topic of cryptocurrency invariably comes up. You even know how this scene goes because it probably played out more than once in your office, or that of a colleague, just last week. Your client perches in a chair, idly fingering your latest brochures that promote Read More

By |2020-05-27T17:58:40-05:00February 2nd, 2018|Comments Off on How to handle questions about cryptocurrency from your customers

AI, as in actionable insights: The future of artificial intelligence in payments

A new era in technology driven by the “Do it for Me” phenomenon is blossoming all around us—and “driven” can be taken literally, what with the advent of self-driving cars. Add to the list self-setting thermostats, self-driven vacuums, robo-investors, digital personal assistants: automation services powered by advances in machine learning, AI (artificial intelligence) and biometrics. Financial services Read More

By |2020-05-27T17:58:40-05:00February 1st, 2018|Comments Off on AI, as in actionable insights: The future of artificial intelligence in payments

Needles and PINs: From jackpotting to skimming, why ATMs are more vulnerable than ever

Five decades after they were first unveiled in Swinging London as marvels of secure, cash-dispensing convenience, automatic teller machines are more vulnerable than ever—thanks to a wide array of attacks that include skimming devices, malware, intercepted communications, outright theft of the machines—and a new technique known as “jackpotting.” To thieves who pull this latest type heist, the Read More

By |2020-05-27T17:58:40-05:00January 31st, 2018|Comments Off on Needles and PINs: From jackpotting to skimming, why ATMs are more vulnerable than ever

A double play that pays: Two profit-driving payment innovations for regional banks

Through modern history, banks have pretty much owned the payment business: the rules, the operations, the settlement, the technology advances and most of all, the revenue it throws off.  That’s changing—but not nearly as fast, or if you’re a bank, as ominously as some predict.  McKinsey, harkening to the Internet’s early days, notes that “the payment market Read More

By |2020-05-27T17:58:41-05:00January 12th, 2018|Comments Off on A double play that pays: Two profit-driving payment innovations for regional banks

Cash is sin-king? The evolving state of cash and electronic payments in the U.S.

The ever-shifting mix of cash, checks, ACH and electronic payments methods are now top-of-mind when people discuss today’s in banking—especially as consumers increasingly adopt electronic payments methods in their daily routines. And while demand for cash and cash-like payments instruments remains strong—cash in circulation was estimated at $1.6 trillion in 2016 and continues to grow—so too is Read More

By |2020-05-27T17:58:41-05:00January 11th, 2018|Comments Off on Cash is sin-king? The evolving state of cash and electronic payments in the U.S.

The wholesale truth: Four strategies to become a payments leader

For wholesale banks, one New Year’s resolution represents equal parts common sense and common good: to take the necessary steps to remain relevant to customers and profitable in 2018. But to do that, these banks must reassess their entire way of doing business. To start, they need to streamline their processes. They must also implement digital tools Read More

By |2020-05-27T17:58:42-05:00December 28th, 2017|Comments Off on The wholesale truth: Four strategies to become a payments leader