PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

The Two C’s

Patricia Hewitt by Patricia Hewitt
March 7, 2011
in Uncategorized
0
Close-up picture two credit cards with numbers

Close-up picture two credit cards with numbers. Macro. Small Depth of field

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Regardless of how the Durbin Amendment worksout, retail financial service business models are alreadytransitioning and it’s unlikely they’ll be clawed back even ifthere is a delay in enacting the final rules. That’s because theDurbin Amendment is just one dynamic in a very fast-moving market.Stakeholders that continue to focus solely on this issue, run therisk of missing the bigger picture and being left behind byconsumers in the run up to building an interactive paymentsmarket.

An interactive payments market is one where buyers/sellers andpayers/payees communicate with one another through a combination ofelectronic channels. This channel grouping can include mobiledevices, ATMs/financial service kiosks, POS devices, self-servicecheck-in or check-out, QR codes, and location-based marketing.Using this group is all manner of consumers, who most importantly,want a choice in the way they transact and how information isdelivered to them.

Currently, the interactive payments market looks a lot like the oldEFT network market from back in the 70’s when everyone “did theirown thing” and kept their transaction channels proprietary. We’rein the same market mindset now except there are quite a few moremoving parts than they were 40 years ago. In order for theelectronic payments market to truly enter its next phase, there isgoing to need to be some collaboration and consolidation (hence the2 c’s). Collaboration in the areas of standards for transactionmessages, fraud and risk management, and operating rules, andconsolidation of nimble, flexible technology with fast, secure,real-time payment processing infrastructures.

Tags: DebitMercator InsightsMerchant AcquiringMobile PaymentsPrepaidSelf Service and ConvenienceSocial Media
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the U.S. Bank report - Real-time payments