Debit cards

Cash is resilient, especially during times of crisis or uncertainty. But there are significant efforts to make cash less relevant in areas where it has typically been a mainstay.

Same-day ACH debits rolled out last month, a year after same-day credits, cutting processing time for these payments from a couple of days to a few hours — but for many emerging use cases, that’s not fast enough. And debit is filling the void.

The explosion of interest in digital assets this year, and the multiplying of their market value, are making cryptocurrency debit cards newly attractive. Banks could partner with intermediaries or issue the cards directly, but obstacles remain before that day can arrive.

A form of digital money known as Monaco gained as much as 695 percent in value since May 17, when its issuing company tweeted that it would offer a Visa Inc.-branded payment card.

First Data Corp. is joining in the movement to provide speedy payments to participants in the gig economy of independent contractors by rolling out a debit-powered disbursement product.

Over time, alternative forms of payment will become more of the norm, according to U.S. consumers' predictions.

Normally tight-lipped about security moves, bankers tell how they are re-examining their systems for Equifax-like flaws and providing new cards, fresh accounts and reassuring advice for anxious customers.

Rather than waiting one to three days for funds through the Automated Clearing House system, merchants will be able to receive settlement payments straight to their debit cards within minutes through a partnership between Visa and the processor Vantiv.

Fifth Third's Melissa Stevens targets millennials with new app. Meanwhile, regulators are accused of ignoring millennials. Plus, a Goldman Sachs wealth manager sues for discrimination.

As the next step of Nacha's faster payments initiative nears, technology and management adjustments may be required to handle increased overdraft risk.