We want them. We fear them. We can’t stay away. Digital wallets are the payments of the future, but they continue to challenge consumers and credit unions alike. This week we’re checking into new products, old barriers, competition, security and what makes a payment card most likely to succeed in this environment (hint: be the default).
Top Read: Battle to Retain Default Card Status Heats up
Default payments make up 82 percent of digital transactions. Read that again: 82 percent, according to newly-released research from Deloitte. As more and more transactions shift to digital payments, becoming your members’ default choice is critical. Maintaining that status: just as important.
A First Look at Zelle
The world finally got its first public look at Zelle, a new digital payment product from Early Warning. With it came the announcement that 19 U.S. financial institutions have signed on and are ready to roll in 2017. So, what’s it all about?
Access Limits Must Go Before Mobile Wallets Can Thrive
“While any disruptive technology has more than one path to widespread adoption, one thing is clear: Both financial institutions and retailers should be considering adding mobile payments as part of their shopping or banking app, or risk disintermediation by third party mobile wallet solutions and the loss of important customer interaction.”
Samsung Pay, Merchant Collaborations and Market Competition
Samsung made several announcements about Samsung Pay at the annual Money 20/20 conference last month in Las Vegas. Mobile Payments Today sat down with the vice president of Samsung’s payment business group, Haley Kim, to talk about how the burgeoning mobile wallet continues to find its footing in the market.
Secure Payments, Generation 2.0
EMVCo has published the EMV 3DS 2.0 Specification, a messaging protocol that allows consumers to be authenticated to card issuers during card-not-present transactions. Is this the dawning of a new era in secure payments? How will EMV 3DS 2.0 protect consumers – and improve security throughout the digital space?