Some things never go out of style. Like thank you notes, martinis, denim and red lipstick. While these among others have stood the test of time for good reason, others have lasted with less commendable motives. One example: payment fraud.Read More
Person-to-person. Peer-to-peer. Pal-to-pal. Define it as you will. P2P payments are taking the world by storm, and while Generation Z is the demographic cohort expecting the most significant four-year increase between 2022 and 2026, “Zoomers” can’t take all the credit for the P2P surge. The need to send money to family and friends quickly and easily is generationally agnostic. In other words, it’s not a young people thing. It’s an all people thing.Read More
Embedded finance sits high on nearly every emerging technology trend list. If you’re not sure what it’s about, you’re certainly not alone.
Embedded financial solutions are one of those things that you’ve probably experienced without giving it any thought. In fact, a December 2021 poll by Morning Consult concluded that only 11% of U.S. adults are familiar with embedded finance, while nearly one-third of that population has unknowingly used or experienced it.Read More
Headline results from a recent payment survey caught my eye. The report indicated that 99% of credit union respondents offer real-time payments to their members. This comes from the April 2022 Credit Union Innovation Playbook, released in collaboration by PYMNTS and PSCU. Granted, only 101 credit unions participated in the survey. Even so, 77% stated they offer real-time payments to all members and 22% offer real-time payments to some of their members. That means only one survey respondent does not offer real-time payments!Read More
When’s the last time you took a good look at your credit union’s non-interest income? Do you know how much credit and debit card interchange income your credit union earns each month? National statistics show that interchange fee income ranges from 50-67% of the total non-interest income for credit unions. That’s a meaningful slice of total income. Interchange income may well be the difference between profitability and loss for many credit unions.Read More