Mobile payments

Most consumers expect to be offered a variety of digital payment options in stores in a post-COVID-19 world, and small and midsize business believe that change will be permanent, a Visa study finds.

New technological innovations, consumer behavior shifts, competition from fresh digital entrants, and regulatory reforms herald the payment environment of tomorrow. In addition, the current pandemic is pushing players to rethink their market fundamentals in an already transitioning industry. Join John Adams, Executive Editor of PaymentsSource and our special guest, Andrew Jamison a virtual card expert with twelve plus years at American Express and CEO & Co-Founder of Extend, in a discussion about the business strategy, management, and innovations in the post pandemic ecosystem and how it can serve the way the economy is headed.

The year — and the coronavirus pandemic — caused a dramatic shift in attitude. Many consumers and merchants now saw contactless cards and mobile payments as a way to move ahead without the germ fears that come with touching cash and PIN pads. And even after those fears subsided, the new habits stuck around.

The COVID-19 pandemic has radically changed consumers’ attitudes and behaviors toward money and payments. What has changed?

The megabank and community bank recently announced they're offering accounts through the payment app. Both gave similar reasons: They need big tech to help them attract new customers.

Google has redesigned Google Pay to add new financial management and loyalty features; and to offer consumers checking and savings accounts from partner banks and credit unions in 2021.

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

As challenger banks threaten Green Dot Corp.'s status among the underbanked, the prepaid card issuer is diving into their market by unveiling a challenger bank of its own.