Mobile Payments Today

Four digital banking trends to watch in 2020

Mobile Payments Today

In 2020 and beyond, it will critical for banks and credit unions to reevaluate their digital strategies

HSBC to shed 35,000 jobs globally in major restructuring

Mobile Payments Today

The London-based bank will slash 35,000 jobs worldwide, shift much of its focus to Asia and close a large number of U.S. branches, as part of a major restructuring of its global operations

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Enabling e-commerce and m-commerce in Latin America

Mobile Payments Today

The e-commerce market in Latin America presents enormous potential for retailers. Despite the possibilities, there are a number of unique challenges that retailers and payments companies need to be aware of before making such a commitment

Grubhub doubles participating restaurants but urges patience on industry turbulence

Mobile Payments Today

Grubhub Founder and CEO Matt Maloney and CFO Adam DeWitt penned a letter to shareholders as part of the food delivery firm's quarterly earnings report, touting the progress made by expanding from 150,000 to 300,000 participating restaurants

Banks embrace cash recycling, ITMs to enhance branch ops

Mobile Payments Today

Cash recycling and interactive teller machines are allowing banks and credit unions to create significant efficiencies at the branch level, with reduced staffing costs, increased productivity and reduced cash exposure, according to experts speaking at a panel on branch transformation at ATMIA's annual U.S. conference in Houston.

Securing Faster Payments: Modernizing Account Validation

Mobile Payments Today

In 2018 alone, ACH network volume reached nearly 23 billion payments –70 payments per person in the U.S. In the 12 months ending February 2019, payment volume across the ACH network increased 7.2%, reaching over 100 million ACH payments per banking day, a first for the ACH network.

Self-service retail and the changing landscape on payments

Mobile Payments Today

Self-service technology allows retailers to meet customer expectations established by the pioneering tech efforts of brand's, like Starbucks. These installations take diverse forms, a CES panel demonstrated

How blockchain will impact the supply chain

Mobile Payments Today

Blockchain technology can provide excellent tools for supply chain management. Former Coca-Cola executive Kraig Adams talks about how he got involved with blockchain technology and how it will transform supply chain management

Consumers will embrace mobile apps, digital wallets amid short holiday shopping season

Mobile Payments Today

With a shorter window to complete holiday shopping this year, consumers are looking to mobile retail apps to find better deals and get ahead of jammed retail outlets. Mobile wallets could see a resulting benefit as consumers look to make their ecommerce purchases as seamless as possible

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Wachter helps retailers integrate customer engagement technology

Mobile Payments Today

Matt Tyler, director of IoT, Wachter, discusses how the network technology integrator identifies the turnkey solution that works to address the challenges retailers face in attracting new customers

Four digital banking trends to watch in 2020

Mobile Payments Today

The growing phenomenon of direct, digital banking and Silicon Valley's entry into the payments business are posing a series of challenges to traditional banking institutions.

Elastic Path reveals how retailers can meet changing e-commerce demands

Mobile Payments Today

In an interview with Retail Customer Experience, Elastic Path Chief Strategy Officer Darin Archer details the importance of deploying flexible e-commerce systems

Mobile payment adoption just might be on the verge of a breakthrough

Mobile Payments Today

Despite years of hype and expectations that failed to materialize, mobile payment adoption in the U.S. may be close to a breakthrough as issuers transition to contactless cards and retailers make significant upgrades in POS systems

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The Evolution of New Account Fraud

Mobile Payments Today

According to a newly released white paper, commissioned by GIACT, and produced by Javelin Strategy & Research, new account fraud (NAF) is evolving. Fraudsters have piled into the digital channel and, with years of experience under their belts, they are diversifying their targets and tactics

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Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners

Mobile Payments Today

FinCEN put into effect the most stringent KYC regulations to date requiring FIs to comply with new Customer Due Diligence standards on beneficial ownership, along with multiple FAQs on ID collection and verification.

JPMorgan Chase exec sees digital banking, branch experience working as one

Mobile Payments Today

Marbue Brown, the head of customer experience at JPMorgan Chase, told attendees at the annual BCX summit that millions of people want a combination of the speed and sophistication of digital banking along with the human interaction and financial wellness provided by a physical bank branch

Google, Citi see integrated payments, mobile banking as mutually beneficial

Mobile Payments Today

The blockbuster agreement for Citi to integrate its Google Pay wallet with Citi and Stanford Federal Credit Union's mobile checking accounts represents an evolution of Big Tech and traditional banking to offer a mutually beneficial expansion of their digital banking and payments businesses

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Cash, payments and the future of ATMs — your 2020 spoiler alert

Mobile Payments Today

According to some economists, we've been experiencing an extended period of slow growth since the 1970s. What does this mean for the future of cash and ATMs? ATM historian Bernardo Batiz-Lazo explores the topic in his latest blog post

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Are Starbucks and Uber the right experience for banks?

Mobile Payments Today

The changing nature of consumers in recent years is raising major questions regarding privacy, loyalty and perceived value in the banking industry, according to a panel of experts at the 2019 Bank Customer Experience Summit

The ever changing challenge of payments fraud detection

Mobile Payments Today

While data shows that credit card fraud has decreased from the standpoint of payment volume, there remains a concern in the industry that cybercriminals are using sophisticated methods of changing tactics to avoid detection and put consumer payment information at risk

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How prepaid and eGifts can boost engagement in the payments space

Mobile Payments Today

Prepaid cards and eGifts can help increase engagement and boost loyalty among retail customers

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TD Bank addresses the evolution of POS

Mobile Payments Today

Mike Rittler, general manager of retail card services and personal lending at TD Bank, shares his insight on trends, transformative innovation and how the 'traditional check out' experience is on its way out

Artificial intelligence in banking — separating reality from hype

Mobile Payments Today

AI and machine learning for banking are getting a huge amount of attention these days, but the question remains: can these technologies truly replace human interaction and in-depth analysis of data

The Hidden Costs of Synthetic Identity Fraud

Mobile Payments Today

Synthetic identity fraud (SIF) schemes create identities out of real and fake personally identifiable information. These schemes are difficult to detect as they combine valid information with fictitious e-mail and social media accounts.

How open banking enables the digital economy

Mobile Payments Today

Open banking represents a huge opportunity for financial institutions. By creating ecosystems to develop new customer propositions and generate new revenue streams, banks will be better able to compete with third-party players and big tech like Amazon

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Payment security in a world going mobile

Mobile Payments Today

As a rising number of consumers use digital payments to conduct ecommerce transactions, businesses need to make sure their mobile apps are secure. Customer identity and payment information is increasingly at risk as fraud actors find new ways to compromise mobile platforms

Digital banking made strong gains in UK market during first half of 2019

Mobile Payments Today

Digital banking is growing rapidly in the U.K., as challenger banks are gaining share among non-millennnial users and winning over customers with strong customer service.

Traditional banks accelerate shift towards digital amid competitive pressures

Mobile Payments Today

Traditional banks in the U.S. and Europe are picking up the transition to digital banking as they face heightened competition from fintech startups and consumers become more and more comfortable with mobile apps and online sites for routine functions

How to deliver the seamless bank experience your account holders expect

Mobile Payments Today

A survey of U.S. consumers indicated that 86% of bank account holders expect a seamless experience across channels and devices when conducting banking activities

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How PSD2 may ripple across the sea

Mobile Payments Today

What we know is that PSD2 has profound implications for the e-commerce landscape across Europe. However, the implications may reach across the Atlantic, as U.S. merchant with cross-border ambitions need to take notice

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How video technology and AI are changing the way we bank

Mobile Payments Today

With technology, one plus one is often greater than two. AI and video technologies complement one another perfectly, and combining them can deliver tremendous value to any financial institution

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How to go beyond the mobile app during the transition to digital banking

Mobile Payments Today

The successful transition to mobile banking requires a seamless, intuitive user experience built into a mobile app.

Cashless payment capability boosts both cash and card sales in vending

Mobile Payments Today

Research confirms that cashless readers do not undermine cash sales in a vending machine. In fact, the cashless technology serves to improve both cashless and cash activity, particularly for machines doing lower volume sales

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Lunar New Year, mobile wallets and the online imperative in China

Mobile Payments Today

Lunar New Year has grown to become one of the most important market opportunities in the world of e-commerce. Everyone in the global payment ecosystem needs to consider this holiday shopping period as a metric for global e-commerce performance

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Why the insurance industry should prioritize digital payments

Mobile Payments Today

The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space

Latin American payments market becomes an emerging target for development

Mobile Payments Today

Latin America has become an increasing focus of development in the emerging digital payments market, as the region transitions from a heavily cash-based system to increase automation, speed and transparency

Europe as a model for US payment security

Mobile Payments Today

Efforts by European regulators to provide stronger authentication could serve as a model for payments in the U.S., as multi-factor authentication is already available in mobile wallets like Apple Pay