Opinions

Failure to recognize the importance of artificial intelligence, mobile banking and other evolving technology would be a serious misstep.

Digital payments can make payroll for workers in industries like cruise ships less costly, and less dangerous than traditional cash-based methods, writes Hal Ramakers, vice president of global solutions for Brightwell.

The use of digital payments offers significant savings over check cashing. Payroll cards and public-sector prepaid cards issued for the deposit of government benefits are two of the best known examples, writes Andrew Gillen, vice president for Global Public Sector Payment Solutions for Mastercard.

Apple Card has advantages over most banks at the start, but there are things banks can do to fight back, according to Mehmet Sezgin, CEO and founder of myGini.

Generation Z is scarred by the financial crisis, but has an awareness of technology that gives payment and financial companies a point of entry, according to Mickey Goldwasser, vice president of marketing at Payrailz.

Financial institutions lack the puzzle pieces for giving their users a good customer experience within their mobile apps, leaving many dissatisfied and looking for a new solution from payment apps and fintechs, contends James Brown, CEO of Smart Communications.

Until significant steps are taken toward creating a seamless and intuitive experience, blockchain will fall short of its goals, as it is unable to communicate its value.

As banks continue to invest heavily in developing mobile and web-based services for personal and business accounts, investments, money transfers, micro loans and peer-to-peer payments to make the customer experience as seamless as possible, they cannot afford to let compliance efforts lag, writes Sam Abadir, vice president of industry solutions for Lockpath.

The SEC and other regulators are taking a closer look at ICOs and mergers involving cryptocurrencies and distributed ledgers, which requires careful diligence for payment companies and dealmakers, according to Will Turner, a partner in the blockchain and cryptocurrency practice at Steptoe & Johnson.

Payments providers can use this announcement as a chance to evaluate their mobile payment offerings and gain a better understanding of consumers’ evolving expectations in order to better serve their merchants, writes Casey Bullock, general manager of global enterprise e-commerce for North America at Worldpay.