NAFCU Services Blog

Nov 25, 2012 by Liz

Payment Technologies: Gaps and Opportunities Awaiting the Next Big Thing

As an Android user, I love the TV commercial poking fun at iPhone fanatics waiting hours in line to buy the new iPhone, hopelessly waiting for the next big thing. With Apple’s recent move to acquire a security technology company, the blogosphere is full of predictions of what this could mean—will the next iPhone have Near Field Communication contactless payment technology? While Android phones have already embraced NFC technology, deploying NFC on iDevices could speed up the adoption of mobile payments. Or not.

Financial executives and merchants face different challenges with emerging payment technologies, including mobile payments, mobile wallets, mobile banking, NFC, EMV, prepaids, and more. Add in the consumers’ perspective—we want faster and convenient transactions, good economics, plus a little bit of the coolness factor—and you’ve got a grand mix of disconnects and opportunities.

To help sort out where financial institution executives and top tier merchants stand, join me for a Vantiv webinar on Wednesday, November 28, “Executive Thinking on Payment Opportunities.” Key findings from interviews with these executives and merchants, compared with responses from a consumer survey, provide insights into how financial institutions can position themselves to meet consumer expectations. The webinar will answer these questions and more:

  • What top fears do financial institutions, merchants, and consumers have about mobile payments?
  • Do financial institutions and merchants feel threatened by mobile? Who do they think will win the mobile wallet wars?
  • How will evolving payment capabilities make mobile banking more compelling for consumers?
  • Why do financial institutions think merchants should lead the mobile charge and vice versa?
  • Which consumers are interested in mobile? Who is more likely to use prepaid cards?
  • What features do consumers want in mobile payments?

Will iPhone devotees be queuing up any time soon for an NFC-enabled device? That question will not be answered during webinar, but register anyway. There’s a lot at stake—Gartner research puts worldwide mobile payments at $617 billion by 2016. Don’t miss out!

Space is limited for this webinar (November 28, 12:00 pm–1:00 pm ET). Vantiv is the NAFCU Services Preferred Partner for ATM and Debit Card Processing Solutions and Credit Card Processing and Servicing as well as Merchant Card Services. Register now »

Post written by Liz Santos, Director of Marketing, NAFCU Services Corp.

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