Opinions

While bankers' reputation as the unquestioned authorities on financial services may be changing, the importance of face-to-face interactions has not lessened, according to contributor Dave Martin.

Churn is always a threat and declines can happen at any time–not just when customers are up for renewal.

Even though the adoption of the EMV initiative is voluntary, you don’t want to be the one looking for a chair when the music stops. Missing the October 2015 deadline for implementing Chip and PIN could come with a costly price tag for banks and merchants.

Hilton's updated mobile app, which lets guests use their phones as room keys, has almost nothing to do with payments. But it may be the catalyst the payments industry has long needed to get consumers to warm to mobile wallets.

With the increased proliferation and reliance on public cloud solutions, combined with the recent high-profile data breaches that have occurred in the past few months, cybersecurity should be a top concern for both issuers and retailers who handle sensitive financial data.

Payments startups may be fast and smart, but banks have compliance know-how, an established customer base and physical branches that will help them hook customers on new products.

Like the Internet of the 1980s, today's payment systems are a mishmash of disparate, closed networks that cannot communicate with one another effectively. Distributed ledger technologies can solve this problem.

The NFC tattoo is far different from the inked lettering and designs many people have. It's even a stretch to call it a "tattoo" – despite the branding, it's really more of an adhesive bandage with a high-tech spin.

More consumers are skipping the mall and buying online instead. Many traditional retailers have already moved online to maximize their sales among customers who either don’t have access to their physical shops due to distance, or for whom shopping online is simply more convenient.

Airbnb’s recent rebranding featured personal narratives from employees and customers as well as stories that emphasized the company’s local roots. Banks can apply these lessons to their own marketing and product development, according to consultant Sam Maule.