People love the idea of mobile pay and other new technologies, but what inspires them to use it? This week we consider the allure of mobile self-service, the money that’s driving fintech innovation, an entrée to the world of cryptocurrency, and the interplay between culture and digital banking success. Also, have you ever worried what happens to lost EMV chips?
Merchants Should Highlight Usefulness of Mobile Self-Service
Is mobile self-service really that much more convenient? Um, yes. Whether it’s helping consumers avoid lines at their local Walmart or order ahead and pay at their neighborhood Panera, mobile self-service is changing the way we experience retail and dining for the better. Card issuers take note: This is where you want to be.
Where Top U.S. Banks Are Investing in Fintech
According to CB Insights, the top ten U.S. banks have participated in 72 rounds of financing totaling $3.6 billion to 56 fintech companies, investing $1 billion in four of the last five quarters. While these stats are interesting, the real fun in this post lies in the graphic showing, bank by bank, who invested in whom.
New Security Concern: When an EMV Chip Falls Out
Now that EMV chip cards have been in circulation for a while, new concerns surround the issue of chips falling out from wear. If a chip falls out and falls into the wrong hands, can a criminal affix it to another card to commit fraud?
Why You Might Want to Get a Cryptocurrency Debit Card
Curious about cryptocurrencies like bitcoin, but unsure how to try it out? You’re like a lot of consumers. “Could bitcoin-friendly debit cards help blockchain newbies make the leap of faith?” the author asks.
Digital Banking Success Requires a Cultural Shakeup
Culture is the most significant barrier to digital success, says co-publisher Jim Marous. Top three barriers: aversion to risk, presence of functional and departmental silos and the challenge of putting the customer first.
The original article 5 Must-Reads: What Makes Members Use Mobile Pay? can be found on Insight Vault.
