This is what retail payments at the point of sale really look like: … [Read more...] about Retail Payments at the Point of Sale
Consumer Design and Data: Notes from Money20/20
During a typically busy Money20/20 day of running from one meeting to another, I had a chance to listen to several presentations concerning customer experience and how to use technology and data to make it great. Both are significant challenges to all businesses, but especially financial institutions of all sizes. The experience of financial services customers and how to … [Read more...] about Consumer Design and Data: Notes from Money20/20
Making Money Move Faster in the United States
Moving money faster remains a persistent challenge in the United States. Consumers continue their wary adoption of mobile payments; cards remain the primary payment method of choice at the point of sale, and cash in circulation continues to grow faster than U.S. gross domestic product. Corporations, for their part, still prefer checks. The situation is changing, and it’s a … [Read more...] about Making Money Move Faster in the United States
Fed to Build New U.S. Realtime Payments Rail
U.S. financial institutions are getting closer to payments speeds on par with what for much of the world is commonplace, as the U.S. Federal Reserve announced plans August 4 to launch its own realtime payments system. Dubbed FedNow, the service is expected to be available in 2023 or 2024, "eventually," as The Economist put it. The push for faster payments has intensified in … [Read more...] about Fed to Build New U.S. Realtime Payments Rail
Payments Marketing: Transit Temptations
Mastercard is using transit payments in Chicago and New York as a way to get consumers used to contactless payments. With volumes estimated at less than .25%, contactless payments need all the push they can get. Transit advertising in Chicago goes beyond contactless payments, however, with campaigns for Venmo's debit cards, Zelle's person-to-person payments, Marcus's banking … [Read more...] about Payments Marketing: Transit Temptations
Credit-Card Fraud Detection: Customer Experience Rules
Excellent customer experience requires better credit-card fraud-detection tools for international and domestic travel bookings Of the many areas in financial services that could benefit from machine learning, credit-card fraud detection must be high on the list. Last year, card fraud reached $9.37 billion in the United States (36% of the global total) and is expected to … [Read more...] about Credit-Card Fraud Detection: Customer Experience Rules