Posts Tagged ‘mobile wallet’

Consumers Speed up Card Replacement Cycle

Posted on August 11, 2017 by Laura Lam

Despite the heightened security that comes with EMV chips and tokenization, consumers remain worried about their personal data being exposed in a seemingly nonstop parade of breaches. This leads to many cardholders requesting a new card as a precaution, even if they have no evidence that they were directly affected by a particular breach. “It’s less about their cards being compromised than seeing news about a major breach at a place where they shop,” said Rob Dixon, product director at CPI Card Group.  “The customer wakes up and sees a report about a breach, and wants to have his or…

Digital Banking Ushers in New Loyalty Rewards Programs

Posted on September 22, 2016 by Laura Lam

Credit card rewards programs were born in the heyday of plastic and paper. As payments go digital, banks will have to make sure their loyalty programs keep pace.  While the move may seem small in the scheme of mobile banking, the digitization of loyalty rewards programs may play a key role in the adoption of mobile payments. “The way people shop and the way they interact with loyalty programs has changed,” said Lars Holmquist, senior vice president at Collinson Group.  Financial service firms have “a clear opportunity to deliver highly engaging, digitally driven loyalty initiatives due to the wealth of…

The Future of Mobile Banking Has Arrived

Posted on July 13, 2016 by Laura Lam

Some Citigroup customers can open ATM vestibules with their phones. Bank of America and JPMorgan Chase customers can retrieve cash more quickly from ATMs using codes generated on their phones. Apple users will soon be able to use their Apple Pay on their iPhones to complete purchases made on their computers.  Welcome to the future of mobile banking, where smartphones begin to make the transition from being a way for people to bank on the go to being the nucleus of banking. “Mobile is not just a channel anymore – it is becoming the heart of the relationship,” said Steve Ellis,…