Midsize banks are losing money on Apple Pay transactions, and the marketing value of their “partnership” with Apple is questionable, says Doug Brown, who leads the mobile strategy and product team at FIS. They will still participate, however, because they have to.
Apple Pay is a marketing expense for banks, says an industry expert.
In case you forgot, Google still offers a mobile wallet, and it is still closing partnership deals.
GoBank, the mobile-first bank from Green Dot Corp., is now being rolled out across Walmart’s network of more than 4,000 stores. Pictured below are GoBank checking cards on the rack of prepaid cards located next to Walmart’s financial center, where customers can cash checks and pay bills, at a Walmart location inRead More
The Fear Factor on Ebola is over the top right now. We are spending countless hours in the media analyzing footage of health workers, figuring out how a nurse in Texas contracted the disease despite strict quarantine procedures, and debating over whether to travel on aircraft. In all of thisRead More
Megabanks—with their larger technology budgets and access to more resources—can afford to offer a lot of different products and services to a lot of different markets. Community banks simply can’t afford to spread themselves too thin.
Capital One founder and CEO RIchard Fairbank got passionate about digital in the bank’s earnings call yesterday
PNC Bank and Key Bank both discussed mobile-first customers on their earnings calls yesterday.
Mobile banking user growth shows no sign of slowing at three of the nation’s largest banks.
There’s no secret how challenging it is to make money off of low-balance, “free-checking” customers. (Just ask M&T.) But Social Money‘s president, Scott McCormack, thinks he has a pretty good solution under his roof, and soon he’ll have the clients to prove it. One client is slated to sign ontoRead More
Minneapolis-based U.S. Bank has a brand-new spot highlighting the bank’s person-to-person payment functionality in its mobile app.