June 12 — Consumers are paying more bills from mobile devices and making more person-to-person payments while starting to venture into digital wallets, according to the latest Expectations & Experiences consumer trends survey from Fiserv Inc.
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June 12 – Wells Fargo & Company has announced that beginning June 24, its 28 million mobile and online customers will have access to Zelle℠ person-to-person (P2P) payments through Wells Fargo Online® and Wells Fargo Mobile®. Zelle allows customers to send and receive payments with almost anyone with a U.S. bank account, using only the recipient’s registered mobile phone number or email address. Funds sent through Zelle are typically available in the recipient’s bank account within minutes – ready to spend, withdraw, or transfer.
By Victoria Dougherty
Rumors on the death of paper checks have been circulating for years. Despite speculation, the check is alive and well. Most people still write and cash checks, even if it is less frequently. Expectations & Experiences: Household Finances, a quarterly consumer trends survey from Fiserv, confirmed changes in consumer payment behaviors, including the infrequent use of checks as payments. However, 58 percent of consumers cashed a check in the three months prior to the survey.
May 12 – It appears Americans have run out of excuses for not paying their friends back in a timely manner, whether it’s for a $5 latte or $2,500 vacation. A new survey released today finds 36 percent of adults currently use a person-to-person payments service (P2P), with millennials leading the charge at nearly double that rate (62 percent). What’s more, 45 percent of non-users say they plan to start using the service within the next year, foreshadowing exponential growth in the coming months.
Banks must prepare for the inevitable cyber-attack.
By Michael Scheibach
In the new era of digital banking and e-payments, banks must continually improve their safeguards and strategies against cyber-attacks, which are predicted to increase by 25 percent in 2017, with ransomware — malware that severely restricts access to computers or files until a ransom is paid — leading the way. Tech Micro, a cloud-based security company, also predicts that ransomware and other cyber-attacks will spread rapidly this year to point-of-sale terminals, IoT (Internet of Things) devices and even ATMs.
March 31 – DH Corporation (TSX: DH) (“D+H”), a leading provider of technology solutions to financial institutions globally, has announced that the latest issue of its Payments & Treasury Solutions News is now available. The tri-annual magazine provides D+H customers—and the transaction banking industry at large—with the latest news from D+H, and features relevant articles on the trends impacting our customers’ businesses.
March 20 – NACHA—The Electronic Payments Association will introduce the Faster Payments Experience — a consummate educational opportunity encompassing sessions and solutions that focus on real-time, same-day and other faster payments initiatives — at PAYMENTS 2017, the premier event for the payments industry that will take place April 23-26 in Austin, Texas.
March 20 – U.S. Bank Corporate Travel Card clients will soon have the convenience of paying for expenditures via mobile with Apple Pay, Android Pay or Samsung Pay. This new functionality allows commercial cardholders to conveniently and securely pay on the go with compatible devices, making U.S. Bank the first financial institution to offer a mobile payment solution for Visa corporate card transactions.
March 13 – JPMorgan Chase has agreed to acquire MCX’s payments technology to help expand Chase Pay, the mobile and digital wallet for Chase customers. MCX, a network of America’s largest merchants, was the premier launch partner for Chase Pay in October 2015. The transaction is expected to close in the coming weeks.