Three Important Trends to Watch in Retail Payments

I don’t think I will be giving any corporate secrets away to say that we engage in strategic planning on an ongoing basis.  As part of this exercise, is a quarterly look at the trends impacting our industry.  Having been involved with trends in all of our markets in the last few years, this quarter I took a deeper dive into retail payments.  Below you will find three trends which I have noticed in the marketplace which will significantly impact the payments space.  All three indicate that the industry will continue its forward momentum.

Two Important Lessons from the ACI Exchange Customer Event: Fraud and Mobile

Surveys are intended to get a read on popular opinion, trends, and consumer or industry perspective based on local, regional or global feedback.  If you place stock in the data, you get a heightened view or perspective from a group of individuals.

The Myth of ‘Checking Accounts’ and Other Early Lessons from the Floor at Payments 2013

Here at the Payments 2013 conference there is plenty of hype around real time payments, mobile payments and protecting it all.

The Future of Banking: Multi-Channel Convergence to an Omnichannel Endpoint

Channel convergence has been a topic of discussion in the banking industry for some time but what that truly means to the bank and their clients is still coming into focus.

Warning “Signs” of Mobile Fraud, Literally

As I hopped in my taxi cab on Broadway in NYC, I was pleased to see a “For Your Protection” sign posted to the partition on the back of the driver’s seat.

Dodd-Frank – Be Careful it Does Not Increase Fees…

The Dodd-Frank legislation is intended to allow consumers to fully understand the cost of sending a wire transfer and the exact amount that will be received when they send a remittance transfer to someone in a foreign country.

2012 Consumer Payments Wrap Up

In the U.S. and around the world, consumers are getting into spending mode with the beginning of the holiday shopping season, which means transactions are likely to be at their greatest amount yet.

It’s the most wonderful (and cautious) time of the year

According to the National Retail Federation, the holiday shopping season can represent between 20–40% of annual sales*. In 2011, holiday sales accounted for 19.5% of total retail industry sales. For this year for the first time, Shop.org, NRF’s digital division, has announced an online holiday sales forecast - projecting online sales this holiday season to increase by 12%. Every year the flurry of in-person and online purchasing activity is not only monitored by the retail and payments industry, but is also closely watched  by the growing numbers of criminals seeking out ways to de-fraud vulnerable account holders of their hard earned (and saved) cash.

Your Best Ally in the Fraud Fight? Customers!

One finding from the recent 2012 ACI Fraud Survey was clear:  82% of card holders want to be notified by their financial institution in the event that suspicious activity is detected on their account.  Another way to look at this is that 4 out of 5 card holders want to be part of the fraud prevention process.

Why travel half way around the world for SIBOS? Just look out of the window

The enormity of global trade is on display this year in Osaka, and it is more evident than ever that payments and trade finance are critical banking services supporting global economic growth.

Incorporating customers into the design and development cycles

Many industries, payments being no different, have working groups designed to tackle audacious goals and work towards standards (e.g., currently EMV in the US, IFX and SEPA).

Will the MasterCard EMV liability shift For Maestro PIN debit at the ATM have any impact on adoption plans?

As April 2013 quickly approaches, you’re probably left with the quandary of whether to EMV enable your ATM devices or not.