After the Faster Payments Task Force, what next?

In the U.S., paving the path to faster payments requires patience. Lots and lots and lots of patience. For when it comes to the Federal Reserve’s work with the Faster Payments Task Force, there has been no express lane, speedway or interstate—nor could there be, really. The journey began with a January 2015 paper, “Strategies for Improving Read More

By |2020-05-27T17:58:42-05:00December 4th, 2017|Comments Off on After the Faster Payments Task Force, what next?

Fast payments at last—but will the U.S. be last?

You would think that by now that there would be a banking system that allows customers to send instant payments from their accounts to anybody else’s bank account in real time. You would think that from a technology standpoint, it might not be such a big deal. But as it turns out it is a big deal, Read More

By |2020-05-27T17:58:43-05:00November 20th, 2017|Comments Off on Fast payments at last—but will the U.S. be last?

With emerging payments, emerging security concerns and consciousness

BAI’s reporting on banking security issues has found that regardless of the threat and response, fraudsters are rapidly adapting not only to security measures, but also to where and how customers access their accounts. Meanwhile, financial institutions face a delicate balancing act; increase security without scaring away customers. Getting that balance right may represent the industry’s greatest Read More

By |2020-05-27T17:59:37-05:00September 28th, 2017|Comments Off on With emerging payments, emerging security concerns and consciousness

Merchant attrition to merchant addition: Analytics as a payments catalyst

The payments industry has grappled with rising merchant attrition for quite some time. No longer is traditional customer service enough to retain a merchant. As a result, the industry has started to explore analytics to get a better handle on this problem. But here’s the issue: Technology as applied to merchant attrition has delivered underwhelming results—and no Read More

By |2020-05-27T17:59:38-05:00September 5th, 2017|Comments Off on Merchant attrition to merchant addition: Analytics as a payments catalyst

From mobile first to mobile best

Consumers have quickly come to expect that they can complete any task from any location—and in the last decade, that represents the most significant economic change driven by the surge of mobile technology. If it’s faster/ better/ cheaper then consumers want it. That’s especially true if it comes through a device such as a smartphone, which already Read More

By |2020-05-27T17:59:41-05:00July 26th, 2017|Comments Off on From mobile first to mobile best

The ATM turns 50—and hits a digital crossroads

In 1967, Thurgood Marshall became the first black U.S. Supreme Court Justice, Middle East fighting flared with the Six Day War and The Beatles released “Sgt. Pepper’s Lonely Hearts Club Band.” In fact, less than 30 days after “Sgt. Pepper” hit record stores, another history-book moment took place just 12 miles due north of the Abbey Road Read More

By |2020-05-27T17:59:41-05:00July 24th, 2017|Comments Off on The ATM turns 50—and hits a digital crossroads

Payoffs: The ups and downs of a payments early adopter

As financial services professionals, it’s easy—perhaps too easy—to segregate payment methods into their various categories: mobile, digital wallets, online bill pay and more. But as consumers, we know just how much these methods overlap and bleed into each other on a daily basis. After a week of tracking my own habits, I’ve reached this conclusion: Payments methods, Read More

By |2020-05-27T17:59:42-05:00June 29th, 2017|Comments Off on Payoffs: The ups and downs of a payments early adopter

Podcast: Where payments meet people

On this episode of the BAI Banking Strategies podcast, we're joined by payments expert Patricia Hewitt. Patricia shares with us her thoughts about how digital-social ecosystems such as China's messaging app WeChat represent natural payments hubs - allowing financial services organizations to serve consumers where they already live, work and play. From the podcast: For more from Read More

By |2020-05-27T17:59:45-05:00May 19th, 2017|Comments Off on Podcast: Where payments meet people

An account of the unbanked: From mobile payments to more financial inclusion

In India, at least half of the population is unbanked: Remarkably, these people lack access to the convenience of electronic payments so common in the west. Yet while India is home to the world’s largest unbanked populace, mobile phone adoption is on the rise. The jump adds up to about 200 million mobile subscribers, with 5 million Read More

By |2020-05-27T17:59:45-05:00May 1st, 2017|Comments Off on An account of the unbanked: From mobile payments to more financial inclusion

Alternative music for millennials: New payment options to win them over

Millennials have fashioned the smartphone into a ubiquitous tool to socialize via Twitter or Instagram or Snapchat; collaborate on projects with Slack; or find and review restaurants on Yelp. So it seems natural that this group would aggressively opt in when it comes to mobile payments, right? Not so much—or, if you prefer, that call is on Read More

By |2020-05-27T17:59:47-05:00April 7th, 2017|Comments Off on Alternative music for millennials: New payment options to win them over