Displaying 91 - 100 of 171 Payments and Industry Trends blog posts

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  Are You Falling Behind in the Race to Real-Time? How to Build Your Business Case for Immediate Payments

  Thursday, April 13, 2017 Mikael Sedera to Payments and Industry Trends, Immediate Payments

  We’re beginning to see a divide in the payments industry, not just between incumbents and new players, but a sub-divide between banks themselves. Some traditional financial institutions have been able to adopt agile processes, whilst others are yet to start their journey toward a more nimble future. So why are some of these banks continuing in their old mode, like giant ships, slow to change direction? Could it be that the iceberg that sinks the move to real-time is only about technology ‘above the surface,’ and organisational issues lurk below the water line?

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  The Wonderful Ways to Pay Your Taxes

  Tuesday, April 11, 2017 Andrea Snyder to Payments and Industry Trends, Bill Pay

  April (or rather mid-April), that time of year when many Americans frantically assemble their W2’s and countless other tax-related forms. With the tax deadline looming, we conducted outreach to a select group of consumers to learn more about their tax paying habits.

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  Driving Faster Payments in the U.S. and Around the Globe 

  Tuesday, April 04, 2017 Sandra Horn to Payments and Industry Trends, Immediate Payments, Transaction Banking

  In advance of next month’s NACHA PAYMENTS conference, we wanted to connect with some of the companies that are driving real-time payments around the globe. VocaLink is one such organization. The company is providing the central infrastructure software to The Clearing House in the US for its Real-time Payments System. VocaLink operates the UK national payments infrastructure, which processes 90 percent of UK salaries, and also implemented the FAST service in Singapore and PromptPay in Thailand, enabling international faster payments. In September of last year, ACI and VocaLink announced a partnership to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network.

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  The Middle East Presents Retailers A Growing Opportunity But Faces Two Challenges

  Friday, March 31, 2017 Paul McMeekin to Payments and Industry Trends, eCommerce, Merchant Retail

  36% of Middle East residents are digital shoppers¹  and are expected to spend $19B² online in 2017; with this spend figure rapidly growing to $34B in 2021. Although cash is the preferred method of transacting, the region is edging toward a digital society. In the UAE and Saudi Arabia, nearly two thirds of the population has smartphones—fueling shopping online growth.³  This prevents retailers new growth opportunities.

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  Whose Liability is it Anyways? The Rise of Bots in Financial Services

  Wednesday, March 29, 2017 Hannes Van Rensburg to Payments and Industry Trends

  The implication of driverless cars, in terms of liability, is fascinating. For starters, in a world where vehicles are all completely self-driving, it would (technically) be impossible to drive under the influence, so this alone will eliminate many accidents. But, when there is an accident (and there inevitably will be), who will be liable for the damages? The car manufacturer? Or the developer of the software that runs the car? What will happen to insurance companies and contracts when there is no liability to insure against? It’s thought-provoking that this scenario will touch a wide range of industries.

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  Seamless Payments Africa and the Region’s Evolving Payments Landscape

  Monday, March 27, 2017 Paul McMeekin to Payments and Industry Trends

  Blockchain is overhyped and misunderstood; consumers want consistency; and customer centricity and collaboration are not a project. Although they’re not necessarily my own sentiment, these are my three key takeaways from the Seamless Payments – Africa conference, which wrapped up recently in Cape Town.

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  March Madness: The Elite 8 of Payments

  Tuesday, March 21, 2017 Dan Ring to Payments and Industry Trends

  March Madness is officially upon us and millions have (incorrectly) picked their brackets because no one picks every game correctly…and we mean no one. March Madness has also now brought about copycats (how flattering)—from brackets on books to restaurants to cities to sportswriters and more…there might even be one on Members of Congress (hello mid-term elections!!!!). And I think 2017 marks our second annual Rantings Madness bracket, though our bracket does not involve 64 or 68 teams, as that would be nauseating. We’ve whittled ours down to the Elite 8…in this case, the Elite 8 of Payments.

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  Drowning in Data? Or Thirsty for More? Omni-Channel’s Biggest Challenge

  Friday, March 17, 2017 Andrew Quartermaine to Payments and Industry Trends, Merchant Retail, eCommerce

  There is no doubt that retailers recognize the value of knowing their customers better. Whatever the merchant sector, geography, or business model, understanding customer buying habits, payment and channel preferences, and satisfaction levels can drive sales, boost customer loyalty and raise revenues. But, in the ever-changing world of the omni-channel shopper, how easy is it to really know your customer?

  The single biggest key to this challenge is data – and lots of it. Not just ‘big data’, but smart, consolidated big data – and this only comes from the ability to bring massive amounts of information together from multiple sources, and analyze it to build a comprehensive picture.

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  9 Surprising Loan Servicing Trends

  Thursday, March 16, 2017 Marc Sczesnak to Payments and Industry Trends, Bill Pay

  “Think like customers, not like lenders” was my motto during my 30 years as a lender. But it’s getting tough. Customers are changing faster than ever.

  We recently worked with Aite Group on an extensive study to learn more about how customers view and pay their loans. The billing and payment experience is the top driver of loan servicing satisfaction. So focusing here will create more smiling customers.

  We learned that one VP increased customer satisfaction by 50 percent through enhancing his company’s billing and payment experience*. Could 2017 be your year to make big jumps in customer satisfaction? 

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  Are Payments Your Core Business? And, Should You Care?

  Thursday, March 09, 2017 Rachel Hunt to Immediate Payments, Payments and Industry Trends

  You know you are getting old(er) when you start reminiscing about the past, longing for better and simpler times. Are you thinking, with nostalgia, of those bygone days when payments were simple? With four party models, ‘digital’ meant card or wire transfers, banks and their processing partners provided secure but not-too-fast payments, and payment revenues accounted for 33 percent of banking revenues. If your answer is ‘yes’ to the previous question, then you are probably not a millennial.