Results of The Center for Payments first nationwide survey focusing on the current and future payments environment in the U.S. are in, with more than 700 financial institutions and third-party senders participating in the organizations Future of Payments study. The study examined payments strategy, as well as plans and interest in adopting new technologies such as faster payment solutions.
By Philippe Benitez
Biometric technologies are here to stay. That much is evident, thanks to consumers’ avid adoption of mobile devices and everyday applications that leverage fingerprint identification, facial recognition and other modalities that already extend into the mobile banking realm. As that tech diffuses into other parts of daily life and business, including airports, automobiles and commerce, it’s worth considering how it might transform bank branches, one of the last bastions left relatively untouched by the digital revolution.
The Clearing House has been doing it since 2017. Where’s the Fed?
By Bill Poquette, Editor-in-Chief
The Federal Reserve isn’t moving fast enough on faster payments to suit some people. Private enterprise has been stepping up and the question arises: Is a Fed-operated faster payments network necessary?
Collaborative Program Strives to Prepare Members for Evolving Payments Landscape.
Eleven payments associations representing more than 10,000 financial institution members, businesses and stakeholders, announced a new program to advance the payments industry through joint development of market intelligence and thought leadership. The participating payment associations — ePayResources, EPCOR, MACHA, NEACH, PaymentsFirst, Shazam, Southern Financial Exchange, The Clearing House Payments Authority, UMACHA, WACHA and WesPay — span all 50 states and U.S. territories and form a nationwide network of payments professionals.
Payments have transformed from a simple exchange of currency to the facilitator of more secure and seamless shopping, buying and traveling experiences, industry executives shared last week at Secure Technology Alliance’s 12th Annual Payments Summit. The Summit, held jointly with the U.S. Payments Forum Member Meeting, brings together industry experts looking to find new ways to overcome challenges impacting the adoption, security and usability of emerging and developing payments technologies.