ORLANDO, Fla.-Because the United States is not the leader in new payments products, when Brian Scott talks about the industry's future he spends a lot of time highlighting what is taking place in other countries.
Scott, VP of sales for The Members Group, Des Moines, Iowa, will be part of a panel on "The Mobile & Payments Future" that will kick off Credit Union Journal's Grow Show here, May 29-31.
"Mobile" was Credit Union Journal's 2012 Story of the Year, and the growth in mobile and payments in 2013 is only moving faster. Scott said any discussion of the future of payments really is about where the space is going.
"Credit and debit have been around for a while, and lately there is a lot of talk about mobile payments," he said. "The big concept is what is going to be key to the next generation of payment products and what they will look like?"
In addition, he continued, Scott will share his views on what the impact of new payments technology will be on credit unions. This will include what CUs should be aware of and how they can protect themselves from losing business to the new technologies.
"Credit unions need to make sure they keep their relationships with their members in a cost-effective manner," he advised. "Credit unions are earning interchange income on credit and debit cards today, but in the future there might be something completely different, such as a subscription service to buy songs on iTunes.
"All of us on the panel are in the payments space so I think it will be an interesting cross-section of ideas," he added.
Session: The Mobile & Payments Future
Speaker: Brian Scott
Focus: Four experts will share insights on what's ahead in mobile banking and payments.
What: CU Journal Grow Show
Where: Ritz Carlton, Orlando
When: May 29-31
