Mobile payments

The best thing a banker can do today is regard the U.K. as a real-world fintech laboratory, track developments closely and seek opportunities to capitalize on change, writes Naomi Bowman, managing director for Berkeley Research Group in London.

As the digital rent market attracts new entrants like Zillow, mainstays like Cozy and YapStone are pressured to diversify and seek new audiences for their digital payments technologies.

Account takeover (ATO) fraud currently drives the largest fraud losses at North American financial institutions within digital channels, according to a new report from Aite Group and Early Warning, the bank organization that operates the Zelle payment network brand. And according to data from RSA, phishing remains a vital part of this scam.

Installing a modern payment gateway, for example, makes the checkout process more convenient, speeding up order processing while offering alternative payment methods, saved customer information and location-specific options, writes Amit Bhaiya, co-founder and CEO of DotcomWeavers.

One expert says the U.S. lags behind other countries, but changes are coming soon – and fast.

With increasing value propositions, use of Apple Pay for in-store purchases should continue to increase, writes Mohammad Khan, president and co-founder of Omnyway.

Zelle is working on ways to ensure that customers can safely pay small businesses as well.

With more than double the amount of transactions of PayPal's Venmo service, credit union analysts expect usage of the P2P payments service to continue to rise.

Each of these wallets has developed its own personality — and, presumably, its own must-have feature to pull consumers and merchants away from the competition.

Sydney-based fintech Inamo has found demand for wearable payments in Australia and is on track to launch a pilot in the U.S., where uptake of wearable payments has been slow.