Marketing

Financial institutions wearied of seeing nonbanks scoop up more and more of the digital person-to-person payments business, so they’ve begun offering the service themselves. But a report released Wednesday indicates those efforts aren’t panning out all that well, at least for mid-sized and smaller institutions. “Lots of hype and no …

The Durbin Amendment’s debit card interchange price cap took effect six years ago this month, prompting a merchant group to celebrate the occasion and claim the measure has saved consumers and merchants $48 billion. But a lobbying group of payment networks and banks derided those savings estimates and once again …

In the unending quest for a deal, price isn’t the only consideration for consumers, but it’s an important one, finds research from Hawk Incentives, a business owned by prepaid specialist Blackhawk Network Holdings Inc. In the “The Recession May Be Over, But Deal Seeking Isn’t” report based on a survey …

Though digital-wallet adoption among consumers may have paused this year, merchants continue to prep for the electronic payment, according to “The Next Phase of Digital Wallet Adoption,” a report commissioned by JPMorgan Chase & Co. Conducted by Forrester Consulting, a unit of Forrester Research Inc., the report found the fraction …

NCR Corp. is entering the fray to get payment-processing deals with micromerchants. The Duluth, Ga.-based point-of-sale technology company this week launched Ring Up by NCR Silver, a POS service specifically designed for merchants with less than $100,000 in annual revenue. The service uses a magnetic stripe and EMV-compatible Bluetooth reader …

For decades, debit cards have been reliable revenue generators and relationship builders for financial institutions of all sizes. But now that bulwark for banks is under threat from multiple alternatives, putting financial-services executives on the defensive and forcing them to rethink their card strategies, argues a new paper out this …

Prepaid cards are still popular with Americans, but not quite as popular as in some recent years, according to new findings from Mercator Advisory Group Inc. A Mercator online survey of 3,011 U.S. adults in June found that 56% of respondents had purchased a prepaid card in the preceding 12 …

Square Inc. will apply for a Utah industrial bank charter today, a move that will extend the merchant processor’s move into lending and one which could draw the opposition of banks. The bank will be capitalized with $56 million, according to The Wall Street Journal. The financial operation will be …

Marketers of integrated, cloud-based point-of-sale systems take note. It’s not enough to have full-featured service replete with multiple functions. It also takes a sales approach that is responsive and knowledgeable. That may sound like common-sense idea, but it’s one that has been vetted by The Strawhecker Group in its “The …

Now that financial institutions have launched a digital peer-to-peer payment service called Zelle to battle popular nonbank services like Venmo, the rival platforms are likely to divide up a rapidly growing market but will also face pressure to find ways to charge for the service. While overall U.S. P2P dollar …