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Mobile Payments: Are We There Yet?

It’s happening, and banks need to be prepared.

By Michael Scheibach, Contributing Editor 

My apologies if you’ve heard this before. Mobile payments — aka mobile money, mobile commerce, mobile wallet, contactless payments — seem to have finally passed the tipping point, according to Juniper Research. Its report, “Mobile Wallets: Service Provider Analysis, Market Opportunities & Forecasts 2018-2022,” predicts that next year, 2.1 billion consumers worldwide will make a mobile payment or send money. That’s nearly 30 percent more than the 1.6 billion consumers in 2017.

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Cashless Society

Is the United States ready?

By Michael Scheibach, Contributing Editor

As we approach the transformational year of 2020, another trend promising to change how all financial transactions are conducted is gaining strength. Very simply, it’s a “cashless society,” defined as a society in which digital cash replaces banknotes and coins. A new study from Juniper Research, in fact, forecasts that consumer spending on digital commerce will reach $14.7 trillion by 2022, up by 60 percent on last year’s figure of $9.2 trillion.

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Omnichannel: The Future of Payments

Mastering a single view of the merchant is the key.

By Michael Scheibach, Contributing Editor

Everyone understands that the payments landscape is changing . . . and changing rapidly. What may be overlooked, however, is the necessity for banks not only to understand the technologies underlying this landscape but also to alter their operations and focus to better serve their business customers, especially merchants. In other words, it is becoming increasingly important that banks provide their merchants with more efficient, secure and streamlined payment services.

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Mobile Payments on the Move

Technologies are now in sync with consumer demand.

By Michael Scheibach, Contributing Editor

“Mobile payments will continue to grow in 2018 as they are a perfect product for the times,” writes industry analyst Michael Brown. “Given the rise of cryptocurrencies and the ever-growing shift toward a paperless society, mobile payments fit perfectly into both the present day and whatever financial future one might imagine.”

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The 2018 Payments Technology Checklist – Five to Follow

March 2 — With a new year comes new resolutions, disruptors and trends. This will especially ring true in the payments space, which boasts one of the biggest growth markets in the world — fintech. Research estimates that global fintech solution usage is currently at 33 percent and is expected to increase to 52 percent in 2018. As the business world hangs up their calendars for 2018, Dave Yohe, VP of Marketing at BillingTree looks at five key technology developments shaking up some key markets in 2018.

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