Emerging trends in payments
Evolving and emerging payments mean the competitive landscape is shifting and businesses of all sizes need to stay informed about these changes. To remain relevant and competitive, you need to understand today’s payment trends and how to monitor your debit card portfolio profitability. Explore the benefits of new debit programs and technologies, the challenges they present and how increased options on payment networks could mean higher profitability for your institution.
Five questions to evaluate your payment program
Based on information from the Average Debit Card Interchange Fee by Payment Card Network, the annual survey conducted by the Federal Reserve, it may be time to review and evaluate your card payment program. The payments landscape is changing. Segmenting payments into signature and PIN buckets is, frankly, outdated. Understanding the difference between fixed rates and percentages helps determine how routing matters. These factors all add up to a program that can provide greater interchange for your institution. It’s time to shift your thinking and realize better results.
New technologies: The future of payments
Evolving and emerging technologies like chip, P2P and voice payments are changing the payments landscape and businesses of all sizes need to stay informed. To remain relevant and competitive, you need to understand today’s payment trends and consider how to meet the demands of modern commerce. Explore the benefits of new technologies, the challenges they present, and how increased options on payment networks could mean higher profitability for your institution.
The payments landscape continues to evolve, yet the basic understanding of how payments work is often overlooked. You shouldn’t be paying for your debit card program — it should be paying you. To take advantage of non-interest income community financial institutions must evaluate their payments program to receive the best interchange income. Learning how merchants influence interchange rates, opportunities for single and dual message, and the importance of gross and net interchange are just the first steps in developing your best payments program.
Shaping the payments system: Your role in creating a level playing field
Most laws regulating payments were implemented when the checks were the primary mechanism for moving money in the United States. The world has changed, and life’s increased pace means new standards are needed to ensure competition and choice remain. Allow your voice to be heard when speaking about a payments system that’s critical to you and your customers. Explore three areas essential to the future of a competitive payments system and ways to advocate at the state and federal levels.
Standards in payments
Payments technology is evolving quickly, but who’s owns the technology and controls the way you pay? How is that changing the competitive landscape of payments in the United States? The rise of proprietary technology in payments is steering the marketplace, discouraging competition and quashing innovation. What needs to change to ensure competition and innovation flourish as technology evolves? The answer: Standards in payments.
The weaponization of technology: Why your payments program is at risk
Payments technology is quickly evolving, but who’s controlling the latest changes to the way you pay, and how is that changing the competitive landscape of payments in the United States? Proprietary technology is eroding the highly competitive marketplace and discouraging new and innovative solutions. Learn what needs to change to ensure competition and innovation flourish as technology evolves.
Value of a second network
Since the implementation of Regulation II — sometimes known as the Durbin Amendment — in 2012, the value of the second network is important to community financial institutions. Why? For three reasons: 1) Levels the playing field, 2) Drives the use of standards for mobility, security and interoperability, and 3) Requires partners and vendors to allow you to do business with who you want. Find out how to evaluate a second network and why this decision is critical to your institution’s payment program.
What do you mean faster? How Faster Payments will impact your strategy
Faster payments. What does it mean? There’s much discussion and news about building a faster payments system, but how will it work for your institution? Gain greater understanding of the current payments landscape and the challenges and opportunities that exist for stakeholders. We’ll look at the practical application of faster payments in lives of our consumers and address the technologies needed and risks to consider as we race toward the future of faster payments.