BankNews.com

BankNews

Payments

As Contactless Cards and Instant Issuance Grow, Banks Must Adapt

By Rob Dixon

As consumer preferences and lifestyles adapt to tech-driven changes, banks must update their payment card offerings as well. Among consumers, there is a growing need to receive new or replacement cards immediately as well as the desire for frictionless, contactless transactions. Banks will need to embrace both contactless cards and instant issuance to offer customers an innovative and convenient experience, and work with the right sources to adapt quickly and cost-effectively.  

(more…)

Currency Only Works to the Extent People Trust It

By Tom Bengtson, Publisher

The foundation of currency is trust. The only reason any of us accepts the U.S. dollar as a unit of value is because we have all agreed it has value. This is something we have derived with our minds. Perhaps it was easier to accept the value of U.S. currency when it was backed by gold. Today, however, there is no asset at the foundation of money. Nonetheless, because we trust it, it is a useful medium of exchange.

(more…)

2023 Will See B2B Cross-Border Transactions Reach 14 Billion

Driven by the introduction of blockchain-based payment networks, business-to-business cross-border transactions are expected to hit 14 billion in 2023, rising from 13.5 billion in 2019, a 7 percent increase.

(more…)

2019 So Far: Where Are We at with Digital Growth?

There were four frequently made predictions by industry experts, financial institutions and technology providers at the beginning of 2019, according to the recent Digital Banking Trends Progress Report from D3 Banking Technology.

“Even though we’re only halfway through, 2019 is shaping up to be another wild ride in financial services,” said Mark Vipond, CEO of D3. “In 2019, banks and credit unions must focus on consolidating and streamlining their platforms and leveraging modern technology that helps them better understand their customers’ and members’ needs.”

(more…)

A Monopoly Not in the Public Interest

By Thomas Hoenig

I was surprised to see Bill Poquette’s editorial (BankNews, May 2019) channeling the Bank Policy Institute’s assertion that The Clearing House deserved a monopoly for real time payments in the United States. The idea that only TCH should provide this service and that competition from the Federal Reserve banks or others would hinder progress is wrong and inconsistent with over 100 years of experience. As he notes, the Bank Policy Institute is an instrument of TCH banks, and making public policy decisions from its viewpoint would adversely affect the payments system for decades to come.

(more…)
  • Sign Up

  • Categories

  • Archive

Software: Kryptronic eCommerce, Copyright 1999-2019 Kryptronic, Inc. Exec Time: 0.068339 Seconds Memory Usage: 3.799858 Megabytes
Kryptronic