50% DEBIT AND THE RETAIL BANKING. Shifting Sands in the Debit Landscape. U.S. Insights. U.S. Customer Delivery

Size: px
Start display at page:

Download "50% DEBIT AND THE RETAIL BANKING. Shifting Sands in the Debit Landscape. U.S. Insights. U.S. Customer Delivery"

Transcription

1 DEBIT AND THE RETAIL BANKING RELATIONSHIP gain front-andcenter status U.S. Customer Delivery BY MICHAEL SOUZA AND TEIK TUNG Shifting Sands in the Debit Landscape The debit marketplace has undergone more dramatic changes during the past few years than it has during any other time since the launch of the product in the late 1980s and its mainstream adoption in the 1990s. Since inception, debit card issuers have had a very solid business model, which basically included: Replacing check and cash transactions with interchange-earning debit transactions. Increasing debit card penetration into their checking account base to grow their revenue-earning card base. Promoting initial activation and then stimulating usage to grow revenue. The recent economic downturn further fueled debit card volume as consumers became more pay as you go focused, even though tighter issuer budgets limited some debit marketing and new product development investment. 50% The Durbin legislation impacted the debit card market with new interchange pricing set by the Federal Reserve pricing which cut interchange revenue by well over 50% for regulated issuers. The Durbin legislation impacted the debit card market with new interchange pricing set by the Federal Reserve pricing which cut interchange revenue by well over 50% for regulated* issuers. This dramatic revenue cut and even the fear of such a cut among exempt issuers is causing many debit card issuers to start asking important strategic questions. What is the best way to approach debit in this new post-durbin environment, an environment in which the product, for regulated issuers, is at a zero or at best a thin margin? Faced with a very different financial business model, many newly regulated issuers are left to consider the following: Should I continue to market debit? Does debit really help me cross-sell other products? Do I need a different strategy? Should I push customers to credit? * The Issuer, together with its affiliates, has assets of $10 billion or more. February 2013

2 In 2011, MasterCard Advisors advocated that debit was still important, just not as profitable. Most issuers agreed with this position. However, in order to build on that position and write the second chapter of the post-durbin debit card story here in the U.S., we need to dig a bit deeper into more granular measures of debit s level of importance to cardholders and what that importance really means for an issuer. In order to get an updated picture of the market, a research study of debit cardholder importance was conducted. Using a statistically representative national survey, the study yielded over 2,000 respondents among all ages who owned both checking accounts and debit cards. By measuring debit s importance or significance in the retail banking mix, the survey sought to prove a new hypothesis: that all of the work done by issuers and payment networks to market debit over the last 15 to 20 years may have eroded the importance of checking and/or checks as the core representation of what we call the center of the banking relationship. I TEND TO GO TO MY PRIMARY BANK FIRST FOR ADDITIONAL BANK SERVICES WHEN I NEED THEM. In order to get an updated picture of the market, a research study of debit cardholder importance was conducted. Using a statistically representative national survey, the study yielded over 2,000 respondents among all ages and among checking account owners who owned debit cards. Question: I tend to go to my primary bank first for additional bank services when I need them. TOTAL RESPONDENTS 17% 18% 16% 15% 21% 83% 82% 84% 85% 90% 79% YES NO Bank Primacy is Key It has been a foundational principle for years that a checking account with a box of checks represents the core relationship with the bank. This principle of locking in primacy is what spurred free checking over the last 20-plus years. Banks knew that if they sold a customer checking, that checking customer would think of their institution as their primary bank and go to that bank first for other services. To validate this principle, the first step in this exploration was to confirm the importance and value of being perceived as a primary bank by a customer. The concept of primacy was overwhelmingly confirmed in that a very significant number (83%) of consumers go to their primary bank when they need additional bank services, thus proving that primacy significantly drives need-based account sales. In other words, when customers need another retail banking product, they will go to their primary bank first. Therefore, from an account sales point of view, there is a lot of value in being perceived as a primary bank. 2

3 What about the value of primacy as it relates to a customer being open to other products when there isn t a specific need? Given that consumers had no specific product need at the time, we assumed that this number would be lower, which it was, but it was still very significant at. This indicates that consumers are much more open to offers from their primary bank than from another bank that is not primary. We can therefore conclude that the perception of primacy will net higher product solicitation results than can be expected by a non-primary bank. Is debit a payment card, banking card, or both? With banks and networks spending millions of dollars for the last 20 years to communicate the advantages of debit versus checks, it is important to examine the perceptual differences between debit versus checking and debit versus checks, since technically a debit card is the access device that is used with a checking account. What about the value of primacy as it relates to a customer being open to other products when there isn t a specific need? Given that consumers had no specific product need at the time, we assumed that this number would be lower, which it was, but it was still very significant at. This indicates that consumers are much more open to offers from their primary bank than from another bank that is not primary. I TEND TO BE MORE OPEN TO MY PRIMARY BANK WHEN THEY SUGGEST ADDITIONAL SERVICES FOR ME Question: I tend to be more open to my primary bank when they suggest additional services for me. TOTAL RESPONDENTS 40% 43% 41% 38% 30% 37% 57% 59% 63% 70% 63% YES NO Question: How true is the following statement? My debit/banking card is the HOW TRUE IS THE FOLLOWING STATEMENT TO YOU? centerpiece My debit or banking of my card banking is the centerpiece relationship of my banking because relationship it becuase is the it key is the key that that allows allows me me to be to recognized be recognized in the branch, in the operate branch, ATM to operate make deposits, an ATM transfer to money make between deposits, accounts or transfer get cash, and money also make between purchases in person accounts or online. or get cash, and also make purchases in person and online. TOTAL RESPONDENTS 19% 85% 90% 95% 77% 75% 81% VERY/SOMEWHAT TRUE 23% 15% 5% VERY/SOMEWHAT UNTRUE VERY/SOMEWHAT TRUE VERY/SOMEWHAT UNTRUE 3

4 In the research study, we used this concept statement: My debit or banking card is the centerpiece of my banking relationship because it is the key that allows me to be recognized in the branch, operate an ATM to make deposits, transfer money between accounts or get cash, and also make purchases in person or online. The results were remarkable, as an overall 81% of the respondents agreed with the statement. This number increased to as much as 95% for some specific segments. In general, the younger the customers were, the more they agreed that debit was the centerpiece of their banking relationship. It wasn t just a payment card. As far as we know, there are no debit accounts currently being marketed in the U.S., so in many ways the deck is stacked in favor of checking as the product or service that is the center of the relationship. To our surprise, even though issuers don t market debit as the core account, we clearly saw movement toward identification with a debit account/card product. A very important finding was that, with the decline in check usage, the relevancy of the checking account seems to be in decline among younger customers. Issuers should start testing debit accounts in place of checking accounts with their younger clients (ages 18 29). When a checkbook is compared to a debit WHICH card, BANKING access PRODUCT device to OR access SERVICE device, IS THE the CENTER results are even more dramatic. OF THE RELATIONSHIP YOU HAVE WITH YOUR BANK? A very important finding was that, with the decline in check usage, the relevancy of the checking account seems to be in decline among younger customers. Issuers should start testing debit accounts in place of checking accounts with their younger clients (ages 18 29). Question: Which banking product or service is the center of the relationship you have with your bank? 85% 75% 71% 23% 13% 0% 2% % 2% 42% 42% 30% 16% DEBIT CARD CHECKING ACCOUNT CREDIT CARD 4

5 Banks and networks have spent millions of dollars for the last 20 years to communicate the advantages of debit and the disadvantages of checks. Did it pay off? To find out, we looked at debit and checks from many different points of view. In one question, we asked cardholders about the physical representation of their banking relationship. As you can see below, the results were strongly in favor of the debit card for the 18- to 44-year-old segments; some segments preferred debit over checking at levels as high as 90% (ages 25 29). Banks and networks have spent millions of dollars for the last 20 years to communicate the advantages of debit and the disadvantages of checks. Did it pay off? To find out, we looked at debit and checks from many different points of view. Question: When you think of the physical representation of your banking relationship, do you think more about your... 90% 84% 57% 65% 40% 43% 35% 16% DEBIT CARD CHECKBOOK What is driving these high numbers for debit versus checks? Was it just clever marketing or real utility? The answer: Usefulness. When asked which was more useful in accessing their money, consumers of all ages overwhelmingly chose debit versus checks, 83% to 17%. Therefore, if debit cards are so much more useful than checks for accessing money, it is apparent why the checking category is losing its luster and relevance in the same way record stores did when CDs and MP3s became mainstream. Earlier we proved the importance of primacy for retail bank account sales. Similarly, another important measure is retention. Banks today typically focus less on retention than on new account sales. For some reason it has always been more interesting to bring in new customers than to keep existing ones. However, a customer saved is a customer earned, to paraphrase the old adage, so retention is indeed very important. 5

6 To test this debit effect on retention, we asked debit cardholders this question: If they were to close their debit card/account, would it be likely that they would close other accounts at that bank? The answer: A resounding yes! Overall, 68% of debit cardholders said that if they closed that card/account, they would close other accounts at that bank, as shown on the chart below. The number went up significantly as the cardholder s age decreased. For example, 79% of the 18- to 24-year-old segment said they would close other accounts at the bank if they closed their debit card/account. WHAT IS MORE USEFUL TO YOU TO ACCESS YOUR MONEY? 68% of debit cardholders said that if they closed that card/ account, they would close other accounts at that bank. Question: What is more useful to you to access your money? 83% 74% 91% 90% 90% 84% 17% 26% 9% 16% TOTAL CHECKBOOK DEBIT CARD IF I CLOSE MY PRIMARY BANK DEBIT CARD ACCOUNT, I WOULD BE LIEKLY TO CLOSE OTHER ACCOUNTS AT THAT BANK. Question: If they were to close their debit card/account, would it be likely that they would close other accounts at that bank? TOTAL RESPONDENTS 32% 68% 62% 75% 67% 80% 79% 38% 33% YES NO 20% 21% YES NO 6

7 IS THE TAIL WAGGING THE DOG TODAY? DRIVING THE CHECKING ACCOUNT WITH DEBIT Over the years, how has the tussle between the checking account and the debit card played out? In the eyes of the consumer, which one drives which in today s banking relationship? Survey respondents were asked to recall the views they held about debit cards versus checking accounts going back in time. The chart below depicts how the consumer view of checking and debit has migrated, with almost three quarters of consumers reporting the preponderance of debit over checking in recent times compared to 20 years ago. This evolving consumer viewpoint calls for a new look at the traditional perspective that banks have used to approach the management of their checking accounts. The functionality of the debit card goes well beyond that of the checkbook. It can be part of an electronic wallet and plays a key role in facilitating e- and m-commerce purchases and payments. Additionally, it can serve as a digital portal to mobile banking and offers greater convenience and access to funds. With the expanded functionality of debit cards over checks and the increasing adoption of debit cards by the younger age groups almost to the exclusion of checkbooks, it is the debit card that is the key to driving checking instead of the reverse. The functionality of the debit card goes well beyond that of the checkbook. It can be part of an electronic wallet and plays a key role in facilitating e- and m-commerce purchases and payments. Additionally, it can serve as a digital portal to mobile banking and offers greater convenience and access to funds. The next table illustrates the sentiment of the debit cardholder in regard to the reasons for perceiving the debit card as more important than the checkbook. By focusing on the expanded and extended use of the debit card, banks can rethink the way they market their checking accounts. CHECK VS. DEBIT. WHICH WAS MORE IMPORANT TO YOU IN THE PAST? Question: Checks vs. Debit - Which was more important to you years ago? 88% 74% 68% 62% 32% 38% 26% 12% 20 YEARS AGO 10 YEARS AGO 5 YEARS AGO 2 YEARS AGO CHECKBOOK DEBIT CARD 7

8 WHAT MAKES THE DEBIT CARD MORE IMPORTANT THAN THE CHECKBOOK? Question: What makes the debit card more important than the checkbook? 71% 72% 71% 76% Provides me with ATM access Allows me to make purchases Can use for online purchases Can use it in more places than checks THE BIRTH OF THE DA (DEBIT ACCOUNT) Some issuers may argue that checking is now called a DDA (demand deposit account), but we would argue that DDA is an internal banking term that consumers don t use and that banks don t market. Our research suggests that a DA (debit account) would be more accurate as well as more customer focused and should be tested, especially with the under 44-year-old customer segments. More than two thirds of study respondents (68%) feel that a premium debit card confers onto the cardholder a special or preferred status with their bank. PLACING DEBIT AND THE DA IN THE DRIVER S SEAT The research has shown us that debit cardholders view their product as the center of the relationship or primary product. We have also learned that when customers view a bank as their primary bank, it turbocharges account sales and retention. Since we now can see the value of bank primacy and the product at the center of the banking relationship, we will take a look at what tools issuers can use to deepen the debit/retail banking relationship. One of the areas we explored was premium debit. As the role of the debit card continues to grow in importance both as a representation of the banking relationship and as a payment form for the consumer, are there ways that banks can leverage debit to help cement the relationship with their customers? Are there components or features of the debit card that can add further value to the overall banking relationship with the customer? More than two thirds of study respondents (68%) feel that a premium debit card confers onto the cardholder a special or preferred status with their bank. This is similar to how many of today s product marketers, such as airlines and hotel chains, use a premium line of products to build an enhanced status and imagery of their products with their customers. This is evident across most of the age groups in the study, with twice as many consumers in the below 30-year-old customer segment expressing the belief that having a premium debit card is indicative of a preferred relationship with the bank. 8

9 What would be the ideal new debit strategy for issuers to leverage in this new debit landscape? Banks can tailor banking features and benefits to suit the needs of different groups. This also allows for opportunities to migrate customers to different banking products as their lifestyles change or as they move on to different life stages. A holistic banking strategy would encompass other retail banking products that pivot around the debit card relationship with the bank. As the chart below suggests, every age group surveyed expressed interest in seeing premium card recognition being extended to other banking products. For this extended recognition to succeed, a total banking relationship strategy would need to be formulated across the different silos within the traditional banking structure to place emphasis on multiple product relationships built upon the debit relationship. As discussed earlier, the new Federal Reserve debit pricing has made it difficult for regulated issuers to offer rewards; it is still viable for the unregulated. Debit issuers have historically focused on rewards to generate higher card usage, but in the new regulated debit world, cardholder recognition may be an excellent tool that may actually have a greater impact. DOES HAVING A PREMIUM DEBIT CARD TELL YOU THAT YOU HAVE A PREFERRED RELATIONSHIP WITH YOUR BANK? Question: Does having a premium debit card tell you that you have a preferred relationship with your bank? TOTAL RESPONDENTS Every age group surveyed expressed interest in seeing premium card recognition being extended to other banking products. Debit issuers have historically focused on rewards to generate higher card usage, but in the new regulated debit world, cardholder recognition may be an excellent tool that may actually have a greater impact. 81% 32% 68% 67% 67% 50% 50% 40% 33% 33% 19% YES NO 55+ WOULD YOU APPRECIATE PREMIUM CARD RECOGNITION (GOLD, PLATINUM, AND BLACK/WORLD) TO BE CARRIED THORUGH TO YOUR OTHER RETAIL PRODUCTS? Question: Would you appreciate premium card recognition (Gold, Platinum and Black/World) to be carried through to your other retail products? % 56% 50% 40% 67% 21% TOTAL RECOGNITION IS CARRIED THROUGH TO ALL WANT RECOGNITION CARRIED THROUGH TO ALL 9

10 A newly launched Debit MasterCard Product Suite offers issuers a powerful set of valuable debit products. Replacing Gold and Platinum is Enhanced a value-rich product that is highly customizable so that an issuer can match its debit product to its own unique retail bank branding. For the top 20% of cardholders, MasterCard offers World Debit with its valuable set of features for affluent and high-usage cardholders. Evolving the checking account to a debit account (DA) is an important step for an issuer to take in order to effectively compete in the future world of consumer payments. The Debit MasterCard Product Suite CARD FEATURES AND BENEFITS* Debit MasterCard (Standard) Debit MasterCard (Enhanced) World Debit MasterCard MasterCard Global Service - Emergency Card Replacement - Emergency Cash Advance - Lost/Stolen Card Reporting Mandatory Mandatory Mandatory MasterCard BENEFITS Zero Liability Mandatory Mandatory Mandatory Shopper Benefits - Price Protection - Extended Warranty - Satisfaction Guarantee n/a Core Core - Purchase Assurance - ID Theft Resolution with Wallet Protection n/a n/a Core *Core: These benefits come with the card program and are provided by MasterCard at no additional cost to issuers. Mandatory: These benefits are required and are at the issuer s expense. 1) Debit MasterCard (Enhanced) to launch as a bundle until the Product Code is live in ) No more than 20% of a debit portfolio may be issued as World cards, and World design standards must be adhered to. PREPARING FOR THE FUTURE In conclusion, debit cards have evolved into a mature product and have taken significant payment share from checkbooks over the past decade. The phenomenal success of debit in replacing checks will extend and eventually cause the checking account to evolve to a debit account as the center of the retail banking relationship. Issuers that take the step of evolving their checking accounts into debit accounts will position themselves well for the rapidly growing and quickly evolving world of e- and m-commerce. As payments become more and more virtual, the relevance of the check will further evaporate as will the relevance of the term checking account. Issuers will then need to position the DA as the center of any e-wallet or virtual payment strategy to maintain the issuer sales and retention benefits of being perceived as a customer s primary bank. Evolving the checking account to a debit account is an important step for an issuer to take in order to effectively compete in the future world of consumer payments. 10

11 Authors MICHAEL SOUZA With over 25 years of experience in both the financial product and marketing arenas, Michael Souza has a proven record of delivering innovative consumer and business payment solutions to a wide array of diverse segments and industries. He started his career in product marketing at Bank of the West, and then joined 1st Nationwide Bank (now CitiBank West), where he gained much experience in checking account product management, direct marketing, and packaged accounts. Due to his expertise in checking accounts, Mike was recruited by Visa USA to work in their newly expanding Debit Department, where he spent nearly 10 years managing the product marketing function for the Visa check card together with Interlink, Plus, and smart cards as well as managing the Visa Business Product Group. During Mike s tenure, the number of Visa check cards grew from 6 million to over 100 million. Mike collaborated with the U.S. advertising department and their ad agency to develop and launch the first multi-million-dollar national television and radio advertising campaign for the check card. The ad campaign s success led to Mike s receiving two Gold Effie awards from the American Marketing Association. U.S. Customer Delivery Mike joined MasterCard in 2008 as a Vice President within the Customer Delivery Division, where he acts as a subject matter expert in Consumer Debit for U.S. Issuers and also manages several key sales enablement functions. Mike was instrumental in the design, development, and deployment of the Portfolio Review infrastructure for all core U.S. products. In 2009, Michael was one of five MasterCard employees in the U.S. who were recognized with MasterCard s Annual Award for Superior Performance and Outstanding Teamwork. In 2011, Michael led an important Maestro Sales Research study which he leveraged to create Maestro s very successful post-durbin sales positioning strategy, which significantly contributed to a major increase in Maestro U.S. market share and purchase volume. TEIK TUNG Teik Tung contributes his financial, marketing and operations expertise to MasterCard that is drawn from both the consumer packaged goods and financial services environment. Over the past sixteen years, he has done extensive work on profitability analysis, benchmarking research, new product development, and competitive intelligence in both the payments and consumer packaged goods arena. At MasterCard Advisors, as VP and Principal, Teik is responsible for leading the panel based consumer research from which syndicated studies as well as customized payments research solutions are offered to the payments industry. He helped establish one of the largest and most comprehensive payments panel in the U.S. market which includes a 360 view of consumers wallet and spending. Apart from consumer payments, his research work extends to small business, mobile commerce and prepaid cards in the U.S. and international markets. For additional insights, please visit and insights.mastercard.com MasterCard. All rights reserved. Proprietary and Confidential. Insights and recommendations are based on proprietary and third-party research, as well as MasterCard s analysis and opinions, and are presented for your information only.

Credit vs. Debit: The Network Perspective

Credit vs. Debit: The Network Perspective July 25, 2010 Credit vs. Debit: The Network Perspective Richard Santoro, Vice President, Government Affairs MasterCard Worldwide 1 Overview Origins of Payment Cards Four-Party Payment System Model Anatomy

More information

The following sections discuss these findings in greater depth.

The following sections discuss these findings in greater depth. Research and Analysis: How Has Reform Legislation Affected Credit Card Advertising? Jon Swallen Senior Vice President of Research, Kantar Media s Intelligence Sector Background The credit card industry

More information

The Path to Compliance: Selecting Another PIN Debit Network

The Path to Compliance: Selecting Another PIN Debit Network The Path to Compliance: Selecting Another PIN Debit Network By: Kevin Barry General Manager, STAR Network 2011 First Data Corporation. All trademarks, service marks and trade names referenced in this material

More information

Your Bank + Elan Financial Services =

Your Bank + Elan Financial Services = Your Bank + Elan Financial Services = Credit Card Issuing Alliance Leveraging the power of your brand. Strengthening your suite of credit card products. Partnership for your success. Collaborative Partnership

More information

Leveraging Data to Improve Performance

Leveraging Data to Improve Performance Debit Portfolio Optimization Rising to the Challenge Leveraging Data to Improve Performance Business Solutions That Deliver 1 Measurable Results Brought to you by PULSE InSights Executive Summary Financial

More information

Marketing Services. Credit Card Consulting

Marketing Services. Credit Card Consulting Marketing Services Credit Card Consulting AmeriCU Credit Union Executes Targeted Marketing Using In- Depth Analysis Overview Client Profile AmeriCU Credit Union was first chartered in 1951, as the Griffiss

More information

Strategies to Serve Your Small Business Relationships Heather Fraser Vice President, Commercial Sales

Strategies to Serve Your Small Business Relationships Heather Fraser Vice President, Commercial Sales Strategies to Serve Your Small Business Relationships Heather Fraser Vice President, Commercial Sales Today we will cover: Small Business Market Overview Small Business Trends and Concerns Attracting,

More information

Trends and Opportunities in Financial Institution Loyalty

Trends and Opportunities in Financial Institution Loyalty Trends and Opportunities in Financial Institution Loyalty By: Molly Plozay Vice President, First Data 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this material

More information

fmswhitepaper Strategies to Increase Fee Revenue By Achim Griesel Senior Executive Vice President, Haberfeld Associates

fmswhitepaper Strategies to Increase Fee Revenue By Achim Griesel Senior Executive Vice President, Haberfeld Associates fmswhitepaper Strategies to Increase Fee Revenue By Achim Griesel Senior Executive Vice President, Haberfeld Associates Unique Insights Implementation Guidance Strategic and Tactical Direction Immediately

More information

Conquering the Complexity of Client-Centricity

Conquering the Complexity of Client-Centricity An Oracle White Paper May 2013 Conquering the Complexity of Client-Centricity How a strategic approach to revenue management and billing can solidify payments industry partnerships and revenue streams

More information

Visa Business Issuer Platform Overview. Help business customers on their journey to success

Visa Business Issuer Platform Overview. Help business customers on their journey to success Visa Business Issuer Platform Overview Help business customers on their journey to success 1 Get big ideas for your small business portfolio. Now is the time to make your Visa Business portfolio work harder

More information

Internet PIN Debit: Aligning the Needs of Merchants, FIs and Consumers for Online Payments

Internet PIN Debit: Aligning the Needs of Merchants, FIs and Consumers for Online Payments Internet PIN Debit: Aligning the Needs of Merchants, FIs and Consumers for Online Payments By Javelin Strategy & Research June 2009 2009 Javelin Strategy & Research All Rights Reserved Executive Summary

More information

J.P. MORGAN CHASE & CO.: THE CREDIT CARD SEGMENT OF

J.P. MORGAN CHASE & CO.: THE CREDIT CARD SEGMENT OF SENEM ACET COSKUN BUS 9200 - FALL 2008 - MIDTERM J.P. MORGAN CHASE & CO.: THE CREDIT CARD SEGMENT OF THE FINANCIAL SERVICES INDUSTRY I-Executive Summary Consumers are increasingly using plastic cards and

More information

A CREDIT CARD PROGRAM CAN BE A CREDIT UNION S HIGHEST-EARNING ASSET

A CREDIT CARD PROGRAM CAN BE A CREDIT UNION S HIGHEST-EARNING ASSET CSCU s payments solutions are tailored to what matters serving your members. A CREDIT CARD PROGRAM CAN BE A CREDIT UNION S HIGHEST-EARNING ASSET A Research Brief by: A Credit Card Program Can Be a Credit

More information

How Merchants Can Maximize Cost Savings in the Post-Durbin Era of Debit Payments

How Merchants Can Maximize Cost Savings in the Post-Durbin Era of Debit Payments How Merchants Can Maximize Cost Savings in the Post-Durbin Era of Debit Payments By: Fred Gore Senior Vice President Dean Michaels Senior Vice President 2011 First Data Corporation. All trademarks, service

More information

TOWARD A MORE SUCCESSFUL DIGITAL CHANNEL ACQUISITION

TOWARD A MORE SUCCESSFUL DIGITAL CHANNEL ACQUISITION TOWARD A MORE SUCCESSFUL DIGITAL CHANNEL ACQUISITION MICHAEL J. McEVOY AND MARGOT VAUGHAN EXECUTIVE SUMMARY Digital channels offer the promise of reduced costs and a more efficient means of acquiring new

More information

Sen. Ann Duplessis Senior Vice President, Liberty Bank and Trust New Orleans, Louisiana and State Senator District 2 Louisiana State Senate

Sen. Ann Duplessis Senior Vice President, Liberty Bank and Trust New Orleans, Louisiana and State Senator District 2 Louisiana State Senate Testimony of Sen. Ann Duplessis Senior Vice President, Liberty Bank and Trust New Orleans, Louisiana and State Senator District 2 Louisiana State Senate On behalf of the Independent Community Bankers of

More information

How Financial Institutions Can Build Customer Relationships for Long-Term Success

How Financial Institutions Can Build Customer Relationships for Long-Term Success How Financial Institutions Can Build Customer Relationships for Long-Term Success By First Data and Market Strategies International 2011 First Data Corporation. All trademarks, service marks and trade

More information

INSTANT FINANCIAL CARD ISSUANCE

INSTANT FINANCIAL CARD ISSUANCE INSTANT FINANCIAL CARD ISSUANCE Optimizing card programs to appeal to today s consumers By Ron Zanotti Senior Vice President Instant Issuance Solutions Datacard Group ABSTRACT The U.S. financial crisis

More information

The Role of Instant Card Issuance in Customer Satisfaction and Use

The Role of Instant Card Issuance in Customer Satisfaction and Use Point of View The Role of Instant Card Issuance in Customer Satisfaction and Use Instant issuance is quickly gaining popularity in today s card marketplace. Instant issue cards are available from several

More information

CARD-LINKED MARKETING

CARD-LINKED MARKETING CARD-LINKED MARKETING Purchase-Based Targeting and the New Advertising Channel it Powers Advanced technology has made consumer purchase data accessible within the secure firewalls of banks, enabling the

More information

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their

More information

The Unified Commercial Card Portfolio: A New Revenue Opportunity for Banks

The Unified Commercial Card Portfolio: A New Revenue Opportunity for Banks JJ With over 20 billion credit card purchase transactions in the US in 2009 and a highly complex system for processing those transactions, it s not surprising that credit card information is a key target

More information

Marketing Consulting and Campaign Management

Marketing Consulting and Campaign Management Marketing Consulting and Campaign Management AmeriCU Credit Union Executes Targeted Marketing Using In-Depth Analysis Overview Client Profile AmeriCU Credit Union was first chartered in 1951, beginning

More information

FIS Active Analytics Suite. Delivering Segmentation-driven Digital Marketing, Merchant Offers

FIS Active Analytics Suite. Delivering Segmentation-driven Digital Marketing, Merchant Offers FIS Active Analytics Suite Delivering Segmentation-driven Digital Marketing, Merchant Offers Price Optimization and Risk Management Performance Analysis The FIS Active Analytics Suite helps financial institutions

More information

Visa Infinite Infinite Platinum

Visa Infinite Infinite Platinum INTERCHANGE RATES The following is a summary of interchange rates of Visa Canada, MasterCard Canada, Discover Financial Service and Interac Direct Payment. For more information please visit: http://www.visa.ca/en/aboutcan/mediacentre/interchange/index.jsp

More information

Capitalize on Business Card Opportunities. Barb Hunter, Senior Vice President Credit Card Services

Capitalize on Business Card Opportunities. Barb Hunter, Senior Vice President Credit Card Services Capitalize on Business Card Opportunities Barb Hunter, Senior Vice President Credit Card Services Agenda Business card landscape Business card product performance Business card strategies and features

More information

White Paper. Exceeding the Mobile Adoption Benchmark: Effective Strategies for Driving Greater Adoption and Usage

White Paper. Exceeding the Mobile Adoption Benchmark: Effective Strategies for Driving Greater Adoption and Usage White Paper Exceeding the Mobile Adoption Benchmark: Effective Strategies for Driving Greater Adoption and Usage The majority of financial institutions have yet to maximize adoption of mobile banking and

More information

Marketing Services. Checking Account Acquisition Campaign

Marketing Services. Checking Account Acquisition Campaign Advisors Plus Checking Acquisition Campaign Sends Pen Air s Membership and Account Growth Soaring Overview Client Profile Pen Air Federal Credit Union was chartered in 1936 to serve military and civil

More information

Invigorate Your Mobile Commerce Strategy with Low-Cost Payment Steering

Invigorate Your Mobile Commerce Strategy with Low-Cost Payment Steering Invigorate Your Mobile Commerce Strategy with Low-Cost Payment Steering By: Theresa Ward Director, First Data 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this

More information

BEST PRACTICES FOR CREDIT AND DEBIT CARD REWARDS PROGRAMS

BEST PRACTICES FOR CREDIT AND DEBIT CARD REWARDS PROGRAMS BEST PRACTICES FOR CREDIT AND DEBIT CARD REWARDS PROGRAMS May 2015 CONTENTS Introduction... 2 The Competitive Necessity of Rewards... 2 Trends in Rewards Program Offerings... 4 Credit Cards... 4 Debit

More information

Deploying Insights from Online Banking Analytics in Incremental Innovation

Deploying Insights from Online Banking Analytics in Incremental Innovation Universal Banking Solution System Integration Consulting Business Process Outsourcing The relevance of online analytics to banking In its 2010 report on the state of online banking in the United States,

More information

How the Past Changes the Future of Fraud

How the Past Changes the Future of Fraud How the Past Changes the Future of Fraud Addressing payment card fraud with models that evaluate multiple risk dimensions through intelligence Card fraud costs the U.S. card payments industry an estimated

More information

ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE

ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE EMV Technology: Deploying Soon in the U.S. ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE 2010 Mercator Advisory Group, Inc. Clock Tower Place, Suite 420 Maynard, MA 01754 phone: 1(781) 419-1700 e-mail:

More information

Automated Business Intelligence

Automated Business Intelligence Automated Business Intelligence What Is Automated Business Intelligence? Automating business intelligence takes the important basic concept of business benchmarking to a level of greater sophistication

More information

CREDIT PROCESSING. First Data takes you beyond with Credit solutions designed to meet the ever-evolving needs of your customers.

CREDIT PROCESSING. First Data takes you beyond with Credit solutions designed to meet the ever-evolving needs of your customers. CREDIT PROCESSING First Data takes you beyond with Credit solutions designed to meet the ever-evolving needs of your customers. Enabling innovative solutions through strategic alliances HOW WILL YOU GO

More information

Credit Card Portfolio Start- Up Consulting

Credit Card Portfolio Start- Up Consulting Credit Card Portfolio Start- Up Consulting Knowledge and Power where it counts: OnPoint and Allegacy benefit from Advisors Plus. Overview Advisors Plus has the experience and resources to help credit unions

More information

Pursuing the self-directed investor

Pursuing the self-directed investor About Us Press Room Contact Us BISM Library Pursuing the self-directed investor Featured Article - Summer 2013 By Gina Lauer IS IT TIME for banks to start extending a welcoming hand to do-it-yourself investors?

More information

Prepaid Cards. An alternative to credit and debit cards. When choosing how to pay for their purchases, consumers have many options.

Prepaid Cards. An alternative to credit and debit cards. When choosing how to pay for their purchases, consumers have many options. General-purpose reloadable prepaid cards Prepaid Cards An alternative to credit and debit cards When choosing how to pay for their purchases, consumers have many options. Cash, check, debit and credit

More information

2016 OUTLOOK: GLOBAL PAYMENTS

2016 OUTLOOK: GLOBAL PAYMENTS December 2015 2016 OUTLOOK: GLOBAL PAYMENTS Disruption across the industry a global theme Around the world, new entrants (including start-ups and nontraditional players) are entering the payments industry.

More information

PREPAID CARDS IN THE SMARTPHONE AGE: MOBILE STRATEGIES FOR CUSTOMER ENGAGEMENT

PREPAID CARDS IN THE SMARTPHONE AGE: MOBILE STRATEGIES FOR CUSTOMER ENGAGEMENT PREPAID CARDS IN THE SMARTPHONE AGE: MOBILE STRATEGIES FOR CUSTOMER ENGAGEMENT 2010 Mercator Advisory Group, Inc. Clock Tower Place, Suite 420 Maynard, MA 01754 phone: 1(781) 419-1700 e-mail: info@mercatoradvisorygroup.com

More information

American Express Global Business to Business Group. Ed Gilligan Vice Chairman and Group CEO

American Express Global Business to Business Group. Ed Gilligan Vice Chairman and Group CEO American Express Global Business to Business Group Ed Gilligan Vice Chairman and Group CEO August 6, 2008 Agenda B2B Business Model Tale of Two Segments Future Outlook 2 B2B Overview Global Commercial

More information

BEST-IN-CLASS MERCHANT SERVICES

BEST-IN-CLASS MERCHANT SERVICES BEST-IN-CLASS MERCHANT SERVICES First Data takes you beyond with merchant processing solutions that grow revenue and strengthen your customer relationships. HOW WILL YOU GO BEYOND? In an era when the banking

More information

IS YOUR MARKETING INVESTMENT DELIVERING EXPECTED RETURNS? October 2009

IS YOUR MARKETING INVESTMENT DELIVERING EXPECTED RETURNS? October 2009 IS YOUR MARKETING INVESTMENT DELIVERING EXPECTED RETURNS? October 2009 Is your marketing investment delivering expected returns? Just ask Nielsen by Chang Park, Executive Director, Nielsen Analytic Consulting,

More information

Mobile Banking Apps Becoming Financially Involved

Mobile Banking Apps Becoming Financially Involved Research Paper Mobile Banking Apps Becoming Financially Involved By Joseph Majestic Mobile is one topic that continues to garner significant attention across the banking and payments industries. A quick

More information

Strengthening the Core

Strengthening the Core Strengthening the Core A Practical Approach to Increasing Checking Account and Debit Card Profitability in a Rebounding Economy By Ben Colvin Profit from Our Perspective Strengthening the Core As the world

More information

THOUGHT LEADERSHIP THE GOLDEN AGE OF CARD PAYMENTS

THOUGHT LEADERSHIP THE GOLDEN AGE OF CARD PAYMENTS THOUGHT LEADERSHIP THE GOLDEN AGE OF CARD PAYMENTS 1 TABLE OF CONTENTS EXECUTIVE SUMMARY... 3 HISTORICALLY, COSTS HAVE STYMIED GROWTH OF CARD PAYMENTS... 3 GOLDEN AGE OF CARD PAYMENTS... 5 MORE VOLATILITY

More information

Hedge Fund Investment Thesis Payment Networks and MasterCard. What I Learnt on Wall Street June 2016

Hedge Fund Investment Thesis Payment Networks and MasterCard. What I Learnt on Wall Street June 2016 Hedge Fund Investment Thesis Payment Networks and MasterCard What I Learnt on Wall Street June 2016 What is it? 2 MasterCard is a payment technology and network company, operating the world s second largest

More information

VisaNet. The technology behind Visa

VisaNet. The technology behind Visa VisaNet The technology behind Visa Fifty years ago, Visa had a vision: To provide consumers, businesses and governments around the world with a better form of payment. The technology behind this vision

More information

A RE T HE U.S. CHIP RULES ENOUGH?

A RE T HE U.S. CHIP RULES ENOUGH? August 2015 A RE T HE U.S. CHIP RULES ENOUGH? A longer term view of security and the payments landscape is needed. Abstract: The United States is finally modernizing its card payment systems and confronting

More information

Ramón Tellaeche Santander Cards

Ramón Tellaeche Santander Cards Ramón Tellaeche Santander Cards Disclaimer Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various

More information

2015 OUTLOOK: BANKING CHANNELS

2015 OUTLOOK: BANKING CHANNELS December 2014 2015 OUTLOOK: BANKING CHANNELS Moving from theory to practice Changes in banking channels are talking hold, embodying a transition from theoretical ideas to actual implementations of such

More information

State Farm and GEICO Case Studies: Using Segmentation to Uncover Profitable Customer Retention Opportunities

State Farm and GEICO Case Studies: Using Segmentation to Uncover Profitable Customer Retention Opportunities and Case Studies: Using Segmentation to Uncover Profitable Customer Retention Opportunities A Management Discussion Based on the 2009 Personal Insurance Retention Analysis SM Financial Services and Insurance

More information

Financial Services POINT OF VIEW CUSTOMER LOYALTY HOW TO RETAIN CLIENTS AND INFLUENCE PROFITS. AUTHOR Dieter Staib, Partner

Financial Services POINT OF VIEW CUSTOMER LOYALTY HOW TO RETAIN CLIENTS AND INFLUENCE PROFITS. AUTHOR Dieter Staib, Partner Financial Services POINT OF VIEW CUSTOMER LOYALTY HOW TO RETAIN CLIENTS AND INFLUENCE PROFITS AUTHOR Dieter Staib, Partner 1. Introduction In recent years customer retention has been a low priority for

More information

Visa Consulting and Analytics

Visa Consulting and Analytics Visa Consulting and Analytics Issuer Acquirer Retailer Analytics and Information services: Issuer menu Issuers - Visa data driven insights We are in a unique position to inform our clients about performance

More information

U.S. Bancorp Investor Day. Payment Services. Pamela Joseph Vice Chairman. September 12, 2013

U.S. Bancorp Investor Day. Payment Services. Pamela Joseph Vice Chairman. September 12, 2013 U.S. Bancorp Investor Day Payment Services Pamela Joseph Vice Chairman September 12, 2013 # Forward-looking Statements and Additional Information The following information appears in accordance with the

More information

October 21, 2015. 2371 Rayburn House Office Building 2302 Rayburn House Office Building Washington, D.C. 20515 Washington, D.C.

October 21, 2015. 2371 Rayburn House Office Building 2302 Rayburn House Office Building Washington, D.C. 20515 Washington, D.C. October 21, 2015 Chairman Steve Chabot Ranking Member Nydia Velázquez House Committee on Small Business House Committee on Small Business 2371 Rayburn House Office Building 2302 Rayburn House Office Building

More information

Business white paper Mobile payments

Business white paper Mobile payments Business white paper Mobile payments Setting standards and gaining customer loyalty Business white paper Page 2 Mobile payments With the rapid development of electronic systems and technology, the adoption

More information

Customer Segmentation and Predictive Modeling It s not an either / or decision.

Customer Segmentation and Predictive Modeling It s not an either / or decision. WHITEPAPER SEPTEMBER 2007 Mike McGuirk Vice President, Behavioral Sciences 35 CORPORATE DRIVE, SUITE 100, BURLINGTON, MA 01803 T 781 494 9989 F 781 494 9766 WWW.IKNOWTION.COM PAGE 2 A baseball player would

More information

Discover Financial Services. Discover Overview. December 2006

Discover Financial Services. Discover Overview. December 2006 Discover Overview December 2006 Legal Notice The information herein contains forward-looking statements, including without limitation statements about the expected effects, timing and completion of the

More information

Maximizing the value of payment cards. Panel Discussion 1 April 2004

Maximizing the value of payment cards. Panel Discussion 1 April 2004 Maximizing the value of payment cards Panel Discussion 1 April 2004 This presentation will introduce our firm and provide some context to our panel discussion > Edgar, Dunn & Company (EDC) was founded

More information

CREDIT CARD MARKET SIMULATION: QUANTIFYING THE IMPACT OF CHANGE LEADS TO DRAMATIC STRATEGIC INNOVATION

CREDIT CARD MARKET SIMULATION: QUANTIFYING THE IMPACT OF CHANGE LEADS TO DRAMATIC STRATEGIC INNOVATION CREDIT CARD MARKET SIMULATION: QUANTIFYING THE IMPACT OF CHANGE LEADS TO DRAMATIC STRATEGIC INNOVATION Tuesday, November 19, 2013 Presented by: David Starr, Sharon Els, PA Consulting Group Hosted by: Steve

More information

Mobile Banking Adoption: Where Is the Revenue for Financial Institutions? Understanding the Value of Engaging Consumers in the Mobile Channel

Mobile Banking Adoption: Where Is the Revenue for Financial Institutions? Understanding the Value of Engaging Consumers in the Mobile Channel Mobile Banking Adoption: Where Is the Revenue for Financial Institutions? Understanding the Value of Engaging Consumers in the Mobile Channel It goes without saying that mobile is an important channel

More information

CSCU s payments solutions are tailored to what matters serving your members. Essential for Building (and Retaining) Member. A Research Brief by:

CSCU s payments solutions are tailored to what matters serving your members. Essential for Building (and Retaining) Member. A Research Brief by: CSCU s payments solutions are tailored to what matters serving your members. Rewards Programs Are Essential for Building (and Retaining) Member Loyalty A Research Brief by: Rewards Programs Are Essential

More information

credit card volume grew shifted to credit cards from debit and prepaid cards, confirming a secular trend Insights first

credit card volume grew shifted to credit cards from debit and prepaid cards, confirming a secular trend Insights first ROAD TO RECOVERY: THE CAUTIOUS RISE OF THE U.S. CONSUMER BY NITIN SUMANGALI The U.S. economic recovery continues to move in a jagged line upwards, with improvements in employment, the stock market, and

More information

Other Retail Payments Developments

Other Retail Payments Developments Other Retail Payments Developments In addition to monitoring trends in the use of retail payment methods discussed in the Trends in Retail Payments chapter, the Board monitors other developments relevant

More information

New Channels Create New Growth Opportunities for Insurers. North American Insurance Distribution Survey Findings

New Channels Create New Growth Opportunities for Insurers. North American Insurance Distribution Survey Findings New Channels Create New Growth Opportunities for Insurers North American Insurance Distribution Survey Findings Introduction After a period marked by disruption of the financial systems and heightened

More information

2012 Benchmark Study of Product Development and Management Practices

2012 Benchmark Study of Product Development and Management Practices 2012 Benchmark Study of Product Development and Management Practices 2012 Benchmark Study of Product Development and Management Practices Contents 1. Introduction 2 2. Participant Profile 3 3. Methodology

More information

Why Business Intelligence is Mission Critical for Winning Against Your Competition. By Stan Cowan Senior Solutions Marketing Manager

Why Business Intelligence is Mission Critical for Winning Against Your Competition. By Stan Cowan Senior Solutions Marketing Manager White Paper Business Intelligence Why Business Intelligence is Mission Critical for Winning Against Your Competition By Stan Cowan Senior Solutions Marketing Manager Why Business Intelligence is Mission

More information

The Impact of Mobile Banking: A Case for Mobile Marketing

The Impact of Mobile Banking: A Case for Mobile Marketing APRIL 2011 Ron Shevlin +1.617.338.6045 rshevlin@aitegroup.com Gwenn Bezard Judith Fishman The Impact of Mobile Banking: A Case for Mobile Marketing Photocopying or electronic distribution of this document

More information

WHITEPAPER. Unlocking Your ATM Big Data : Understanding the power of real-time transaction analytics. www.inetco.com

WHITEPAPER. Unlocking Your ATM Big Data : Understanding the power of real-time transaction analytics. www.inetco.com Unlocking Your ATM Big Data : Understanding the power of real-time transaction analytics www.inetco.com Summary Banks and credit unions are heavily investing in technology initiatives such as mobile infrastructure

More information

David Darnell s Remarks at the Center for Financial Services Innovation Underbanked Conference Miami, Fla. June 6, 2013

David Darnell s Remarks at the Center for Financial Services Innovation Underbanked Conference Miami, Fla. June 6, 2013 David Darnell s Remarks at the Center for Financial Services Innovation Underbanked Conference Miami, Fla. June 6, 2013 Final as prepared for delivery Thank you, Jennifer, and it is great to be with you

More information

Capital Markets Day Athens, 16 January 2006 ALPHA. Retail Banking. G. Aronis Senior Manager, Retail Banking

Capital Markets Day Athens, 16 January 2006 ALPHA. Retail Banking. G. Aronis Senior Manager, Retail Banking Capital Markets Day Athens, 16 January 2006 ALPHA BANΚ Retail Banking G. Aronis Senior Manager, Retail Banking Contents: page Retail Banking at a Glance 3 Strategic Emphasis on Retail Banking 4 Household

More information

Financial Advisors Use of Social Media Moves from Early Adoption to Mainstream

Financial Advisors Use of Social Media Moves from Early Adoption to Mainstream Financial Advisors Use of Social Media Moves from Early Adoption to Mainstream Advisors use a variety of social networks overall but when it comes to driving business, the overwhelming majority turn to

More information

The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group

The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group Abstract: Visa Inc. and MasterCard recently announced plans to accelerate chip migration in the

More information

REWARDS PUSHING PAST THE TIPPING POINT IN MOBILE PAYMENTS PRESENTED BY: JIM MAROUS MATT WILCOX CARLO CARDILLI

REWARDS PUSHING PAST THE TIPPING POINT IN MOBILE PAYMENTS PRESENTED BY: JIM MAROUS MATT WILCOX CARLO CARDILLI REWARDS PUSHING PAST THE TIPPING POINT IN MOBILE PAYMENTS PRESENTED BY: JIM MAROUS MATT WILCOX CARLO CARDILLI JIM MAROUS CO-PUBLISHER, THE FINANCIAL BRAND PUBLISHER, DIGITAL BANKING REPORT REWARDS DRIVES

More information

Analytical CRM solution for Banking industry

Analytical CRM solution for Banking industry Analytical CRM solution for Banking industry Harbinger TechAxes PVT. LTD. 2005 Insights about What are the reasons and freq. for a customer contact? What are my product holding patterns? Which of my are

More information

The Future of Payments

The Future of Payments 1 The Future of Payments An Educational Session Presented by Unitec and Priority Payment Systems Disclaimer The opinions of the contributors expressed herein do not necessarily state or reflect those of

More information

Marketing Services. Custom New Account Acquisition Campaign

Marketing Services. Custom New Account Acquisition Campaign Marketing Services Custom New Account Acquisition Campaign DCCU Adds Average of 300 New Cards/Month with Help of Advisors Plus Overview Client Profile Waynesboro DuPont Employees Credit Union opened in

More information

Making Asset Liability Management Work for You

Making Asset Liability Management Work for You Making Asset Liability Management Work for You By Denny DeGroote, Manager Asset Liability Management Solutions for TMG After working with credit unions for more than 20 years, I have observed a number

More information

HOW ISSUERS CAN GET, KEEP, AND GROW THE OMNICHANNEL CUSTOMER

HOW ISSUERS CAN GET, KEEP, AND GROW THE OMNICHANNEL CUSTOMER HOW ISSUERS CAN GET, KEEP, AND GROW THE OMNICHANNEL CUSTOMER New approaches to direct marketing techniques have become a key component of the acquisition and retention mix BY MARGOT VAUGHAN When it comes

More information

Management Commentary. Second Quarter 2015 Results

Management Commentary. Second Quarter 2015 Results Management Commentary Second Quarter 2015 Results The RetailMeNot, Inc. ( RetailMeNot ) earnings call will begin on August 5, 2015 at 7:00am central time (8:00am eastern time) and will include prepared

More information

Consumer Recall Rates of Phone Numbers in Advertising

Consumer Recall Rates of Phone Numbers in Advertising 200 Church Street, PO Box 1049 Burlington, VT 05401 802-860-0378 Consumer Recall Rates of Phone Numbers in Advertising Vanity 800 Numbers Versus Numeric Toll-free Numbers Research Report January 2008 Table

More information

CONSUMERS REACT TO NEW DEBIT CARD FEES

CONSUMERS REACT TO NEW DEBIT CARD FEES CONSUMERS REACT TO NEW DEBIT CARD FEES RESULTS FROM OCTOBER 2011 TRIG US OMNIBUS SURVEY CONSUMERS REACT TO NEW DEBIT CARD FEES Changes in regulations and continued pressure on Financial Institution s income

More information

FIXED INCOME. Consistent Revenue A WIDER VIEW TM

FIXED INCOME. Consistent Revenue A WIDER VIEW TM FIXED INCOME Consistent Revenue A WIDER VIEW TM It s time for A WIDER VIEW. TM It s the view that says stocks, bonds, mutual funds, annuities, life insurance, every type of investment has to make a contribution

More information

Chargebacks: Another Payment Card Acceptance Cost for Merchants

Chargebacks: Another Payment Card Acceptance Cost for Merchants Chargebacks: Another Payment Card Acceptance Cost for Merchants Fumiko Hayashi, Zach Markiewicz, and Richard J. Sullivan January 216 RWP 16-1 http://dx.doi.org/1.18651/rwp216-1 Chargebacks: Another Payment

More information

Citi Prepaid Card Services. Consumer Incentives. Citi Transaction Services Latin America and Mexico

Citi Prepaid Card Services. Consumer Incentives. Citi Transaction Services Latin America and Mexico Citi Prepaid Card Services Consumer Incentives Citi Transaction Services Latin America and Mexico Citi Transaction Services Latin America and Mexico Citi Prepaid Card Services 2 Efficient, Cost-Effective

More information

Secure Your Success. Intel Security Partner Program

Secure Your Success. Intel Security Partner Program Secure Your Success Intel Security Partner Program Today s digital security threats are more sophisticated and complex than ever. At the same time, computing advancements are opening up new possibilities

More information

WHITE PAPER SMALL BUSINESS MOBILE REMOTE DEPOSIT CAPTURE: CRACKING THE CODE

WHITE PAPER SMALL BUSINESS MOBILE REMOTE DEPOSIT CAPTURE: CRACKING THE CODE WHITE PAPER SMALL BUSINESS MOBILE REMOTE DEPOSIT CAPTURE: CRACKING THE CODE 2013 WAUSAU FINANCIAL SYSTEMS, INC. All Rights Reserved. All other copyrights cited herein are the property of their respective

More information

The Future of Fee Based Banking Income

The Future of Fee Based Banking Income Brochure More information from http://www.researchandmarkets.com/reports/2141595/ The Future of Fee Based Banking Income Description: This report examines the market for fee-based retail banking products

More information

Meeting Today s Customer Needs with Internet Banking

Meeting Today s Customer Needs with Internet Banking Meeting Today s Customer Needs with Internet Banking 2011 First Data Corporation. All trademarks, service marks and trade names referenced in this material are the property of their respective owners.

More information

The Personal Credit Card Market in Australia: Pricing over the Past Decade

The Personal Credit Card Market in Australia: Pricing over the Past Decade The Personal Credit Card Market in Australia: Pricing over the Past Decade Iris Chan, Sophia Chong and Stephen Mitchell* There have been significant changes in the personal credit card market over the

More information

The Technology Industry: Sales Trends and Strategic Initiatives

The Technology Industry: Sales Trends and Strategic Initiatives The Technology Industry: Sales Trends and Strategic Initiatives Executive Summary While steady investments in technology by both companies and consumers have underwritten much of the productivity increases

More information

Visa U.S.A. Interchange Reimbursement Fees

Visa U.S.A. Interchange Reimbursement Fees Visa U.S.A. The following tables set forth the interchange reimbursement fees applied on Visa financial transactions completed within the 50 United States and the District of Columbia. Visa uses interchange

More information

THE INNOVATION JOURNEY:

THE INNOVATION JOURNEY: THE INNOVATION JOURNEY: The last four years and into the future Presentation to the Australian Payments Forum Monday 15 April 2013 Where were we? DCITA Report 2006 APCA Innovation Report 2008/9 What s

More information

AmaZing Cash FAQs. About the Program

AmaZing Cash FAQs. About the Program AmaZing Cash FAQs About the Program 1. How does the AmaZing Cash program work? The AmaZing Cash program comes automatically with the AmaZing Cash Credit Card and the AmaZing Cash Signature Card. It is

More information

Consulting Services. Debit and Checking Consulting

Consulting Services. Debit and Checking Consulting Consulting Services Debit and Checking Consulting Baxter Credit Union Reaches for Higher Performance Overview Client Profile Based in Vernon Hills, IL, Baxter Credit Union (BCU) is one of the largest credit

More information

Continuous Customer Dialogues

Continuous Customer Dialogues Continuous Customer Dialogues STRATEGIES FOR GROWTH AND LOYALTY IN MULTI-CHANNEL CUSTOMER-ORIENTED ORGANIZATIONS whitepaper TABLE OF CONTENTS: PAGE Overview...3 The Continuous Customer Dialogue Vision...4

More information

Payments Transformation - EMV comes to the US

Payments Transformation - EMV comes to the US Accenture Payment Services Payments Transformation - EMV comes to the US In 1993 Visa, MasterCard and Europay (EMV) came together and formed EMVCo 1 to tackle the global challenge of combatting fraudulent

More information