Globally, the reliance on card-payment methods is failing merchants and their ability to further monetize. Despite the fact that there are 5 billion phone owners globally, there are only 1.5 billion credit card owners.
The bright lights of Las Vegas have gone out on Money20/20 for another year. As always, the event brought together the biggest names in payments and provided unprecedented insight into the future of financial services.
While there are pros and cons to a bank forging its own way with mobile payments outside the Pays, industry executives on a panel last month at the Bank Customer Experience in Chicago agreed financial institutions should be aware of, and explore, all developments in the industry.
And the sixth reason: "Change takes a much longer time coming than you think, and then it happens much faster than you would have thought." It's happening right now for you and your banking customers and BCX is the place to learn how to manage it.
When JP Morgan Chase acquired the Merchant Customer Exchange payments technology last month, a 5-year saga came to a bitter end. The payments industry, which has proven difficult to navigate and succeed in over the past decade, claimed another victim.