The Financial Advisor business is transitioning to a new paradigm in which advice, customer experience, and personalized content will merge. Advisors will need to build and maintain their personal brand via social media networks whilst balancing regulatory constraints. The industry has started to adapt but much more opportunity exists to create new interaction models and grow one's book of business. Among consumers, there is a growing expectation that firms have a social media presence as part of their engagement model – digital natives have a “social media first” mindset. This presentation highlights recent trends, transformations the industry is going through, and a roadmap to respond to these changes.
The Financial Advisor business is transitioning to a new paradigm in which advice, customer experience, and personalized content will merge. Advisors will need to build and maintain their personal brand via social media networks whilst balancing regulatory constraints. The industry has started to adapt but much more opportunity exists to create new interaction models and grow one's book of business. Among consumers, there is a growing expectation that firms have a social media presence as part of their engagement model – digital natives have a “social media first” mindset. This presentation highlights recent trends, transformations the industry is going through, and a roadmap to respond to these changes.
Next Generation Mobile Banking and Return on Investmentmistervandam
Fiserv white paper on how the advancement of mobile banking - particularly next generation features and functionality - are driving return on investment for financial institutions
A need for peer to-peer strong local authentication protocol (p2 pslap) in mo...IJNSA Journal
Mobile phones are considered to be the most common devices in history of humankind. They have involved
in financial transaction such as mobile banking and mobile payment, which include sensitive information.
Public key cryptography is the proven solution that can provide secure transaction at every point of
interaction in mobile banking value chain. This paper proposes a need for peer-to-peer Strong Local
Authentication Protocol (p2pSLAP) for Mobile Banking Transaction that implements a peer-to-peer
architecture to provide local authentication mechanism between the customer and the agent. It employs
public key infrastructure (PKI).
One of the most prominent mobile payment technologies of interaction paradigms is Near Field
Communication (NFC), which provides simple and secure two-way communication between electronic devices.
However, NFC-based services have not increased as expected. In this paper, the NFC payment ecosystems are
introduced and reasons to why their use has not rapidly become more prevalent are discussed. The presented
research results are summarised from business case studies that were carried out in various Finnish companies
during the period 2012-2015. The results showed that the sustainable and feasible solutions are based on
recognised standards and open ecosystems; national, proprietary or otherwise restricted solutions do not work.
Accordingly, it was recommended to start with Value Added Service (VAS) systems as these involved fewer
security requirements. Finally, the analyses pointed out that tokenisation offers light security version for most of
services in the business and it was experienced a remarkable way for promoting the mobile payment services.
Mobile Payments in The Financial Services IndustryPenn Mutual
A comprehensive overview of the payments space specifically mobile payments, and how macro trends are driving revolutionary changes in how consumers purchase and transact. Mobile Payments (mPayments) is rapidly becoming the payment vehicle of choice for consumers worldwide. The primary drivers that have influenced this growth include mobile banking, social media, enabling technology, “unbanked” communities, and consumer/retailer acceptance of mobile commerce.
Growth in mobile and tablet sales is outpacing computers and in many markets now exceeds those of computers.
Acceptance and usage of mobile/tablet banking, payments, money movement, and other financial transactions are growing rapidly.
Mobile social media’s global exponential growth has become the primary channel for people to interact with friends and brands.
Convergence of mobile/tablet usage combined with social media are evolving into new, dynamic interaction models and ecommerce opportunities.
Financial service companies, most notable Banks, are faced with disintermediation and must rethink payment models and customer centric experiences.
Held in Bali, Indonesia, the “Mobile Banking and Payments for Emerging Asia Summit 2012” gathered many thought leaders from the telecommunications and banking industries; unveiling the potential of mobile channels penetrating Asia’s emerging markets. Spire Research and Consulting was honored to be invited as a post-conference workshop leader at this prestigious event.
Representing Spire Research and Consulting, Jeffery Bahar, Deputy Chief Executive Officer and Yap Far Loon, Business Development Director, Telecommunication, led a post-conference workshop in the “Mobile Banking and Payments for Emerging Asia Summit 2012” held in Bali, Indonesia. The event brought together many eminent industry experts and marketers from the telecommunications and banking industries – highlighting the potential of mobile banking and payments in emerging economies.
Read more about the event coverage here:
http://www.spireresearch.com/newsroom/events/spire-joins-mobile-banking-and-payments-for-emerging-asia-summit-2012-as-workshop-leader/
Mobile Banking in 2020 - Mobile World Congress ReportNadejda Tatarciuc
Present report was presented at Mobile World Congress this year, showing the outlook for mobile banking by 2020! - how a younger world, more internet, crime, and activist governments will affect mobile banking penetration.
A Little world is one of the fastest growing companies with a annual growth rate of 600%. The company has pioneered the concept of branch less banking by using mobile phone platform. The cost of operating a brank branch in India has now been reduced to 50$ per month. See the presentation and find out yourself how the concept works.
La Superintendencia de Competencia (SC) y la Universidad Centroamericana “José
Simeón Cañas” (UCA) firmaron un convenio para el desarrollo del Programa de Pasantes de
dicha Superintendencia, el cual se enmarca dentro del Programa de Promoción, Divulgación
y Formación en el área de Derecho de Competencia, que desarrolla la referida institución autónoma.
Next Generation Mobile Banking and Return on Investmentmistervandam
Fiserv white paper on how the advancement of mobile banking - particularly next generation features and functionality - are driving return on investment for financial institutions
A need for peer to-peer strong local authentication protocol (p2 pslap) in mo...IJNSA Journal
Mobile phones are considered to be the most common devices in history of humankind. They have involved
in financial transaction such as mobile banking and mobile payment, which include sensitive information.
Public key cryptography is the proven solution that can provide secure transaction at every point of
interaction in mobile banking value chain. This paper proposes a need for peer-to-peer Strong Local
Authentication Protocol (p2pSLAP) for Mobile Banking Transaction that implements a peer-to-peer
architecture to provide local authentication mechanism between the customer and the agent. It employs
public key infrastructure (PKI).
One of the most prominent mobile payment technologies of interaction paradigms is Near Field
Communication (NFC), which provides simple and secure two-way communication between electronic devices.
However, NFC-based services have not increased as expected. In this paper, the NFC payment ecosystems are
introduced and reasons to why their use has not rapidly become more prevalent are discussed. The presented
research results are summarised from business case studies that were carried out in various Finnish companies
during the period 2012-2015. The results showed that the sustainable and feasible solutions are based on
recognised standards and open ecosystems; national, proprietary or otherwise restricted solutions do not work.
Accordingly, it was recommended to start with Value Added Service (VAS) systems as these involved fewer
security requirements. Finally, the analyses pointed out that tokenisation offers light security version for most of
services in the business and it was experienced a remarkable way for promoting the mobile payment services.
Mobile Payments in The Financial Services IndustryPenn Mutual
A comprehensive overview of the payments space specifically mobile payments, and how macro trends are driving revolutionary changes in how consumers purchase and transact. Mobile Payments (mPayments) is rapidly becoming the payment vehicle of choice for consumers worldwide. The primary drivers that have influenced this growth include mobile banking, social media, enabling technology, “unbanked” communities, and consumer/retailer acceptance of mobile commerce.
Growth in mobile and tablet sales is outpacing computers and in many markets now exceeds those of computers.
Acceptance and usage of mobile/tablet banking, payments, money movement, and other financial transactions are growing rapidly.
Mobile social media’s global exponential growth has become the primary channel for people to interact with friends and brands.
Convergence of mobile/tablet usage combined with social media are evolving into new, dynamic interaction models and ecommerce opportunities.
Financial service companies, most notable Banks, are faced with disintermediation and must rethink payment models and customer centric experiences.
Held in Bali, Indonesia, the “Mobile Banking and Payments for Emerging Asia Summit 2012” gathered many thought leaders from the telecommunications and banking industries; unveiling the potential of mobile channels penetrating Asia’s emerging markets. Spire Research and Consulting was honored to be invited as a post-conference workshop leader at this prestigious event.
Representing Spire Research and Consulting, Jeffery Bahar, Deputy Chief Executive Officer and Yap Far Loon, Business Development Director, Telecommunication, led a post-conference workshop in the “Mobile Banking and Payments for Emerging Asia Summit 2012” held in Bali, Indonesia. The event brought together many eminent industry experts and marketers from the telecommunications and banking industries – highlighting the potential of mobile banking and payments in emerging economies.
Read more about the event coverage here:
http://www.spireresearch.com/newsroom/events/spire-joins-mobile-banking-and-payments-for-emerging-asia-summit-2012-as-workshop-leader/
Mobile Banking in 2020 - Mobile World Congress ReportNadejda Tatarciuc
Present report was presented at Mobile World Congress this year, showing the outlook for mobile banking by 2020! - how a younger world, more internet, crime, and activist governments will affect mobile banking penetration.
A Little world is one of the fastest growing companies with a annual growth rate of 600%. The company has pioneered the concept of branch less banking by using mobile phone platform. The cost of operating a brank branch in India has now been reduced to 50$ per month. See the presentation and find out yourself how the concept works.
La Superintendencia de Competencia (SC) y la Universidad Centroamericana “José
Simeón Cañas” (UCA) firmaron un convenio para el desarrollo del Programa de Pasantes de
dicha Superintendencia, el cual se enmarca dentro del Programa de Promoción, Divulgación
y Formación en el área de Derecho de Competencia, que desarrolla la referida institución autónoma.
National Rx Drug Abuse Summit, April 2-4, 2013, General Session presentation "Realities of Addiction," by Dr. Nora Volkow, Director, National Institute on Drug Abuse
Building profitable relationships with multichannel consumersPaul McAdam
Building Profitable Relationships with Multi-Channel Consumers is the first in a series of Consumer Insight Briefs based on primary research conducted by FIS™ Enterprise Strategy. The research findings are based on a 42-question, online survey completed by more thanover 4,000 U.S. consumers in early September 2010. The survey was fielded by FIS Enterprise Strategy to a consumer panel maintained by Survey Sampling International. The estimated margin of error rate for this sample is +/-1.6% to 2.3%.
“La Superintendencia de Competencia (SC) de El Salvador realizó la inspección de las petroleras Texaco, Esso y Shell, con el objeto de recabar elementos de prueba relacionados al proceso administrativo sancionador iniciado el 9 de marzo de 2007”, informó Celina Escolán, Superintendenta
de Competencia.
La Superintendencia de Competencia (SC) comenzará a impartir, este martes cinco de junio, una Pre especialidad sobre “Derecho de Competencia”, dentro del seminario de graduación para los alumnos egresados de Ciencias Jurídicas de la Universidad Tecnológica de El Salvador (UTEC).
La posible conducta anticompetitiva considerada para el inicio del proceso sancionador, consiste en el supuesto abuso de posición de dominio por medio de la creación de obstáculos a la entrada de competidores o la expansión de los ya existentes, dentro del mercado relevante (televisión por suscripción, proveído por medios alámbricos, o televisión por cable, en las residenciales Villa Constitución y Ciudad Real).
Here is a visual sampling of some of my work from the past 20 years.
Much of my work is ideation, research, innovation, then execution….
…and much of it is management…working closely with talented teams. Hard to demonstrate visually.
Look through these slides for inspiration or critique.
The P2P payment ecosystem is a complex network involving users, platforms, financial institutions, best payment processors, payment networks, mobile devices, security measures, and more. To know more about this visit: https://webpays.com/payment-processing-companies.html
Demonetisation: Push Towards a Digital EconomyShreyas Kamath
Is demonetisation an independent event or a part of a larger trend? The paper hypothesises that demonetisation is a part of the transition towards a digital economy. This paper seeks to identify the required infrastructure for sustaining the impacts of demonetisation on financial technology and consumer behavior to ascertain if the impact will be temporary in nature.
How open banking and instant payments are changing financial servicesSriram Kannan
Technology has changed the way we make payments with online businesses paving the way for innovative payment solutions. Entry of FinTechs and a non-banks into the payments space has created a massive disruption in the financial services industry.
This presentation explores what future of commerce may look like given the current trends in mobile devices, digital payments, social commerce and security including tokenization and new forms of identity verification
peer to peer Lending scope in India.
P2P Lending in India is growing at a faster rate nowadays. Under
these borrowers get the advantage of getting funds at
comparatively lower rates while the lenders get a better return on
their investment in comparison to other conventional lending
methods.
Peer to Peer lending (P2P lending) is one of the methods of obtaining finances
for your business. P2P functions as an online platform offering ease of access,
The Future of Digital Payments: Trends and Innovations in FinanceAyeshaZahir4
Profession Tax Registration
We are your trusted partner in taxation, payroll, accounting, and bookkeeping services (Financial Services), dedicated to simplifying your financial life and helping you achieve your financial goals.
For more details visit https://annapooranaapt.com/
Case View with Rajat Gandhi - P2P Lending in India: Delivering Disruptive Inn...ET Cases
Case View with Rajat Gandhi, Founder & CEO - FAIRCENT
Faircent is the India’s largest P2P lending marketplace for borrowers and lenders to connect directly through its unique platform, which allows Auction and Reverse Auction Indexation. Faircent’s dynamic algorithms ensure that the right fit is done
The Case for Promoting Debit Cards: Why They Are Still a Growth ProductPaul McAdam
While debit cards have been commonly used to make consumer retail purchases for more than a decade, many financial institutions may have placed less priority on their debit card business in wake of regulatory changes. After rapid annual growth over the past decade, growth appears to have plateaued for many institutions in the last year or two. However, debit cards remain a profitable product to promote for smaller financial institutions as demonstrated by FIS research findings and supporting case studies with a community bank and credit union outlined in this research brief.
FIS Research - Accelerating Paper Check MigrationPaul McAdam
Recent research conducted by FIS with 3,205 consumers reveals that migration away from paper checks to debit card, credit card, automated clearing house and other electronic payment services could be accelerated through a combination of motivators and removal of barriers especially for consumer-to-consumer payments. The demise of paper checks would represent a substantial expense reduction for financial institutions as well as revenue enhancement opportunity through shifting check volume to card payments, which generate interchange revenue. However, checks won’t disappear overnight and likely won’t decline much at all among some consumers without significant intervention.
FIS Research - High Performance Community BankingPaul McAdam
Historically, economies of scale have provided larger financial institutions with the ability to generate lower efficiency ratios and, often, higher returns on assets than community banks. Despite the disadvantages of their smaller size, some community banks outperform larger banks as well as their community bank peers during both good and bad times. This research brief focuses on the financial metrics of high-performing community banks to determine the characteristics that differentiate the elite performers from the rest of the pack.
FIS 2011 Consumer Loyalty and Profitability ReportPaul McAdam
Measuring customer loyalty to financial institutions (FIs) differs from measuring customer loyalty to most other institutions, products or services. Banks sometimes keep customers because of the perceived hassle factor associated with switching to a new FI. Slightly more than two-thirds (68 percent) of FI customers agree that “switching my primary checking account to a different financial institution is more hassle than it’s worth.” But our research with 3,000 consumers shows that customers who merely stick with their FIs due to inertia aren’t loyal and don’t keep a large share of their deposits and/or loans with their primary checking account provider. A long-term customer doesn’t necessarily equal a loyal customer. And, a loyal customer is not necessarily a profitable one.
Overcoming the Demographic Disadvantages of Community Banking (jan 2012)Paul McAdam
Community banks are at a disadvantage in terms of customer relationship expansion, mostly because the community bank customer base has less income and future earnings potential. The affluence gap between the community bank customer and the average bank customer results in community bank customers holding lower-than-average investable assets and loans overall, with correspondingly less opportunity. This article examines the degree to which customer demographics and geographic location influence both the composition and the financial behaviors of community bank customers and points out where community banks are really missing out.
By Paul McAdam
SVP, Research & Thought Leadership
Fidelity National Information Services
Mobile Banking & Payments: Consumer Behavior in 2011Paul McAdam
Better technologies for mobile devices, proliferation of banking apps and increased consumer appetite for staying connected are converging to propel mobile banking penetration. On the technology device front, recent double-digit growth in smartphone adoption has enabled consumers to expand the activities they can perform via mobile phone connections — including banking online. One-half of smartphone owners have banked online with their mobile phones within the past 30 days vs. only 13 percent of those with conventional mobile phones with Internet access.
More than one-quarter of U.S. smartphone owners indicate they would be “extremely likely” or “very likely” to use mobile payment during the next year if new technology was available that enabled payment through a contactless reader at point-of-sale. That translates into an estimated 17 million plus consumers who are prepared to exchange their cash-and-card-laden wallets for a different payment method. Smartphone owners who are likely adopters of mobile payments differ in significant ways the general population of smartphone owners.
Creating Customer Value Through Social MediaPaul McAdam
As the most-popular online activity, social media represents a fundamental shift in the way people communicate with each other and with businesses. The gateway into social media conversations via corporate social responsibility (CSR) initiatives represents a relatively low-risk usage of social media by financial institutions. However, financial institutions are now borrowing from the pages of companies in other industries, as well as leveraging their core competencies, to accomplish objectives beyond gaining attention and brand-building that CSR initiatives address.
Developing and Deploying a Social Media Strategy for Financial InstitutionsPaul McAdam
Social media has made it to the big leagues though financial institutions do not yet place a high level of importance on social media compared with other points of contact with customers. Launching and maintaining a financial institution’s social media presence is daunting but it has become imperative to converse with consumers on their terms, which increasingly include social media conversations. Building a strategic plan for developing and deploying a financial institution’s social media presence can be divided into four steps: 1) planning, 2) monitoring, 3) contributing, and 4) measuring.
Relationship Banking 2.0: Sustained Profitability in a Time of TurmoilPaul McAdam
The retail banking industry is undergoing a dramatic transformation. Originally built on a business model valuing proximity, rigid product selection and face-to-face interactions, it is rapidly evolving to a customer-centric model in which consumers can get personalized information and services on demand with a few chocks of a mouse or, increasingly, a few taps on a smartphone screen. The shift to this consumer-centric perspective is the cornerstone of the profitable relationship-driven model.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
Replacing Cash & Checks with P2P Money Movement
1. Research Brief April 2010
Replacing Cash & Checks
with P2P Money Movement
Abstract
This research was designed to understand online
banking consumers’ reactions to two new product
concepts. The first concept is using P2P payment
services offered by a financial institution. Nearly
half of those surveyed (48%) would likely use this
type of P2P solution.
The second concept is using an ePayment Portal —
a service provided by a financial institution which
allows consumers to transfer money, pay bills, send
Table of Contents and receive P2P payments, and track all their mon-
ey movement from a single place online. Nearly
half (49%) expressed interest in the Portal. Of this
Executive Summary 1 interested population, 70% would likely use the
Introduction 2 P2P payment services within the Portal.
P2P Awareness and Likely Adoption 2
Integration with mobile banking services will be
Cross-Border P2P Payments 5
key to driving consumer adoption of these two new
Integration with Bill Payment 5 product concepts. Today’s active mobile banking
The Mobile Opportunity 7 consumers are twice as likely to use P2P payments
Conclusion and Action Items 8 and the Portal as purely computer-based online
banking and bill payment consumers.
About the Research Partners 10
2. Executive Summary
The next 12 to 24 months promise to be an active period of P2P payment services explora-
tion, pilots and rollouts by nancial institutions. Our recent national research of active
online banking consumers reveals considerable opportunity for P2P payments to replace
check and cash transactions — particularly if P2P is o ered inside online banking and bill
pay applications.
Nearly half (48%) of consumers surveyed expressed interest in using P2P payments offered by their
financial institution. When asked about the scenarios in which they would use P2P, a third (33%) of consumers
said they would likely use it to send money to a child at college. Almost as many (31%) said they would send money to
an individual out of the country. A quarter (25%) would likely use P2P to split the cost of a gift with other people.
Product functionality and marketing messages that support simplicity, payment speed and record
keeping are essential to driving consumer interest. The ability to send money in just a few simple steps
and an assurance that the recipient will quickly receive guaranteed funds are key requirements (82% of consumers
cited both as important). 86% of consumers feel the ability to keep track of their transaction records is important.
Many consumers will react positively to P2P payments that are built in to a suite of online bill
payment and money movement solutions. Nearly half (49%) of consumers expressed interest in the concept of
an ePayment Portal — an online solution that would allow consumers to transfer money, pay bills, send and receive P2P
payments, and view and track the movement of their money. And of those who expressed interest in the Portal, 70%
would likely use the P2P portion of the Portal. In fact, out of eight payment features presented in the Portal concept
test, P2P was the third most popular, behind making bill payments (88%) and making same-day emergency payments
to avoid late fees (75%). The attractiveness of the Portal concept is validated by the fact that 34% of the consumers
who expressed interest stated they would be willing to switch financial institutions in order to obtain the Portal service.
Record keeping, convenience and reporting tools are primary benefits that will encourage ePayment
Portal adoption. 81% of consumers cited access to a complete record and history of payments of all types that run
through the Portal as being important. Other benefits that resonate with the vast majority of consumers include: the
ability to make all payments and transactions from one central online location; not having to write and mail checks
for bill pay or personal (P2P) payments; and reporting tools to help them budget and spend within their means.
The utilization of incentives or rewards will enhance consumer interest in the ePayment Portal. 69% of
consumers would be likely to use the Portal if offered an incentive by the financial institution (compared to 49% without an
incentive). Consumers resoundingly identified cash back awards as the most valuable form of incentive (75% selected this
option).
Integrating P2P payments and ePayment Portal services with mobile banking services and promoting the
services to existing mobile adopters are key. More than all other factors, current utilization of mobile banking services
is the most significant indicator of likelihood to use P2P payments and the Portal. Today’s active mobile banking consumers
are twice as likely to use P2P payments and the Portal as purely computer-based online banking and bill payment consumers.
Unlike a decade ago, when financial institutions made their initial foray into P2P payments,
today there is a significant base of consumers who are comfortable with electronic payments.
40% of the surveyed consumers stated that they have already used a P2P payments service to send money to
another individual at one time or another, and 93% reported awareness of the PayPal brand name. In addition,
while PayPal is currently primarily used for consumer-to-business transactions, they already have 81 million active
accounts worldwide. This represents a ready base of P2P consumers for a financial institution’s additional services.
1 April 2010
3. Replacing Cash & Checks with P2P Money Movement
Introduction
completed in February 2010 found there is attractive
potential for P2P payments offered by financial institutions
Sending money to a child at college; paying a friend
to replace paper payments, especially if P2P is offered
back for your share of a lunch bill; paying the babysitter;
within current online banking and bill pay applications.
splitting the cost of an office colleague’s wedding present
with a co-worker — these and other common scenarios
of person-to-person (P2P) transactions are conducted P2P Awareness and Likely Adoption
by the average U.S. consumer many times per year.
Our research objective was to test consumer reaction to
Historically, cash and checks have dominated as the P2P payment services offered within the online banking
means of settlement for these types of transactions, and bill payment applications of their financial institutions
but this is rapidly changing. Consumers have become (see Figure 1 for the visual depiction of the P2P concept as
increasingly comfortable using electronic payments presented in the survey instrument). To bring the concept
to replace paper payments for their monthly bills to life, we presented consumers with seven potential P2P
and retail point-of-sale transactions. The transition use case scenarios. We then asked consumers to rate
to using computers or mobile phones to perform their likelihood to use P2P payments in each case, as
electronic P2P payments isn’t far behind. At least well as other questions about their current and potential
that’s what many financial institutions and payments payment behavior. The following are key indicators
technology vendors are planning for 2010, as they of P2P payment adoption potential that emerged:
evaluate the business case for P2P payments, launch
pilots, and roll out the offering to the marketplace. • Two-thirds (66%) of the surveyed consumers
reported awareness of the ability to use P2P
But what is the market demand for electronic P2P payments to transfer money electronically to another
payments? What types of P2P transactions can individual, and 40% reported that they have
financial institutions
promote that will attract Figure 1: P2P Payment Concept
consumers and drive
adoption? Are consumers
ready to initiate P2P Person to Person (P2P) Payment send money in 3 clicks or less
payments through their
financial institutions’ k
clic k
1 clic ck
online banking and 2 cli
P2P Payment
3
bill payment services? Secure login
Account #:
P2P Payment
Enter Amount
P2P Payment
P2P Payment
$47
And what role does the PIN:
To: 555-555-5555
Amount: $47 Con rmation!
mobile phone play in
Money
P2P Payment Movement Payment
login Account
log-in Received!
the P2P opportunity? $47
NACHA and eCom The sender enters
One person The sender can use The sender logs in to The sender con rms The receiver gets
Advisors partnered wants to send
money to
either a computer or her online banking the receiver’s the receiver’s info and a text or email
mobile phone to send account by simply mobile # or email amount then hits message
with FIS and PayPal to another a Person-to-Person entering her account # address and the ‘Send’ moments later
and PIN amount telling her that
address these and other payment – an
electronic the money is in
questions. Our national payment instead of
cash or check
her account
research of 1,180 active No need to have receiver’s banking information
No need to carry cash Instant payment
online banking consumers
Note: A variety of terms are used in this Research Brief to describe consumers’ positive responses to the P2P payment and ePayment
Portal concepts. These terms include: like, will likely use, expressed interest, responded favorably, resonated and important. In all
cases, the use of these terms relates to top 2 box results from five- and seven-point Likert scale questions where the top 2 box descrip-
tors were probably/definitely, agree/strongly agree and important/very important.
April 2010 2
4. Replacing Cash & Checks with P2P Money Movement
About the Research
This research was conducted by NACHA and • A quarter of consumers (27%) stated that
eCom Advisors in partnership with FIS and PayPal. It is the ability to use their mobile phone to
based on a 29-question online survey that was completed send P2P payments was important to them.
by 1,180 U.S. consumers. The survey was elded by eCom
Advisors on February 23 – 24, 2010 to a consumer panel
maintained by Survey Sampling International. One • Nearly a quarter (23%) reported that they look
hundred percent of the consumers who completed the forward to the day when they do not have to worry
survey were active online banking users and 88% were about carrying cash because they can initiate P2P
active online bill payment users (“active” de ned as usage
payments with their mobile phones.
within the past 30 days). The sample was purposely
managed in this manner to gauge consumers’ receptivity
to P2P payment services o ered within online banking These results demonstrate that unlike a decade ago,
and bill payment applications. The estimated error rates when financial institutions made their initial foray into
for this sample are +/-2.5% to +/- 3.1%. P2P payments, today a significant number of consumers
are already comfortable with a broad range of
electronic payments. In addition, while PayPal is currently
primarily used for consumer-to-business transactions,
used a P2P service to do this at one time or they already have 81 million active accounts worldwide.
another. In addition, 41% reported using either This represents a ready base of P2P consumers for
an online bill payment service or an online P2P a financial institution’s additional services. And nine
payment service to send an electronic payment out of ten respondents (93%) in our survey reported
directly to another individual within the past year. awareness of the PayPal brand name. So even before
financial institutions have launched or promoted their
• Nearly half (48%) of the consumers told us they would P2P offerings to the marketplace in a significant way,
likely use P2P payments offered by their financial there is clearly a large pool of potential adopters.
institution for at least one of the seven use case
scenarios presented in the research questionnaire. While consumer awareness of P2P payments is
One in five (21%) told us they would likely use substantial, and will certainly increase as financial
P2P for a majority (at least four of the seven) of
the scenarios (see Figure 2).
Figure 2: Likelihood to Use P2P Payments
• A third of consumers (33%)
stated they would likely use 48% of consumers would likely use P2P in at least 1 of the 7 use case scenarios
P2P payments offered by their 21% would likely use P2P in a majority (at least 4 of 7) of the scenarios
financial institution to send
money to a son or daughter 10%
1 of 7
at college. Almost as many
10%
(31%) would likely use P2P to 2 of 7
send money out of the country
to a family member, friend or 52% 48% 7%
associate (see Cross-Border Not likely to Likely to use 3 of 7
use P2P P2P
P2P Payments on page 5 for 7%
4 of 7
additional information on
6%
this opportunity). A quarter
3% 5 of 7
(25%) would likely use P2P 5% 6 of 7 21%
7 of 7
to split the cost of a gift with
co-workers, friends or family
members (see Figure 3). Source: eCom Advisors and NACHA
3 April 2010
5. Replacing Cash & Checks with P2P Money Movement
Figure 3: P2P Payment Use Cases
Likelihood of consumers to use electronic P2P payments in the
following situations
Sending money to a son or daughter in college 36% 16% 16% 33%
Sending money out of the country to a family 26%
25% 19% 31%
member, friend, asscociate, etc.
Splitting the cost of a gift (e.g. birthday gift, wedding 38%
12% 26% 25%
gift, etc.) with co-workers, friends or family members
Paying a friend back for your portion of a dinner bill 13% 42% 24% 22%
(splitting the check at a restaurant)
Splitting the mortgage or rent with your roommate,
31% 33% 17% 19%
partner, or spouse
Paying your babysitter, house sitter, dog walker
23% 41% 19% 18%
gardener, house painter, etc.
Purchasing items from a garage sale or ea market
and paying the seller 13% 52% 19% 16%
Does not apply De nitely/probably would not use Might or might not use De nitely/probably would use
Source: eCom Advisors and NACHA
institutions roll out their programs in the coming year, time) then you should take a pass on P2P until they can.
there is still a critical need to overcome consumer inertia
by providing clear and consistent messaging about the Additional actions required of financial institutions to
simplicity and benefits of using P2P payments. The first increase consumer comfort with P2P payments include
and most essential part of the simplicity message relates emphasizing the trusted brands behind the P2P service
to product design, which must enable consumers to send and supporting the simplicity message by raising
money in just a few clicks of their mouse or mobile phone awareness that a receiver’s email address or mobile
(or approximately the same amount of time it takes phone number is all that is needed by the sender in
to write a check or pull cash from one’s wallet). Eight order to complete P2P payments. Two-thirds (67%)
out of ten consumers (82%) cited this ability to send a of consumers are aware of the old method requiring
payment in just a few steps as an important requirement. the sender to have the receiver’s bank routing number
and account number (a factor that certainly limits P2P
The second element of the simplicity message must payments to only the most familiar and trusted of
address the fact that the processing of the P2P individuals). A much lower percentage of consumers are
transaction and the receipt of funds is now much faster. aware of the more recent and simpler alternative that
The vast majority of consumers (82%) cited that getting only requires knowledge of the receiver’s email address
the money to the receiver as quickly as possible was or mobile phone number (only 37% and 14% awareness,
an important requirement. Financial institutions must respectively) to initiate a P2P payment. Financial
enable P2P recipients to receive guaranteed funds institutions must enable consumers to initiate P2P payments
electronically within a matter of moments. If your using the receiver’s email address or mobile phone
technology vendor or in-house development team number and promote that capability to their customers.
cannot meet these two critical requirements (sending
money in just a few clicks with a mouse or mobile phone, One of the benefits most desired by consumers when
and guaranteed funds received electronically in real conducting P2P payments is the ability to keep track of
April 2010 4
6. Replacing Cash & Checks with P2P Money Movement
Cross-Border P2P Payments
The research NACHA and eCom Advisors currently dominated by rms such as Western
conducted in partnership with FIS and PayPal Union and MoneyGram.
demonstrates that consumers are very
interested in using P2P payments to send money Providing a low-cost, easy-to-use alternative to
internationally to a family member, friend or these money transfer organizations is necessary
associate. Nearly a third (31%) of consumers said to shift market share to depository institutions.
they would likely use Having the P2P
P2P in this manner. function as part of
Outlook for Global Remittance Flows the ePayment Portal
The United Nations will not only allow
Billion
estimates that 191 $450 consumers this
million immigrants low-cost easy-to-use
worldwide send way to transfer
money to family $400 money to family
members who members in other
remain in their home- countries, but it will
$350
land. According to also provide them the
the World Bank, tools to track, budget,
global remittance $300
save and invest their
ows will rebound money.
from a 2009
recession-induced $250 Today it is not
2006 2007 2008 2009 2010e 2011e
decline and grow by unusual for consum-
Source: The World Bank
5% over the next two ers to go to their
years to $441 billion bank’s ATM or into a
by 2011. branch, withdraw cash, and walk across the
street to a Western Union in order to transfer the
U.S. banks currently only process about 3% of money out of the country. This should not be the
the global remittance market, according to case in a world where P2P payments can already
SWIFT estimates. The Bank of New York Mellon be sent to individuals in dozens of countries.
estimates that only 10% of the remittance trans- Financial institutions should strongly consider
actions from the U.S. are sent through banks. the P2P payment opportunity in order to
There is clearly a signi cant opportunity for develop new revenue sources and attract new
depository institutions in a market which is customers with cross-border payment needs.
one’s transaction history (73% cited this as important). Integration with Bill Payment
Consumers clearly like the idea that P2P payments might
help them keep better track of what are currently cash Heightened industry interest in P2P payments has
transactions. Consumers also desire the peace of mind of led a variety of financial institutions and payments
having access to online records of larger P2P payments technology vendors to integrate P2P capabilities
that replace check transactions (sending money to a into their online bill payment applications. The idea
child in college, splitting the rent with a roommate, etc.). is that consumers will be more likely to use P2P
This makes sense given the fact that a history of many if it is affiliated with their banking provider’s bill
of their other transactions (bill payments and point-of- payment service rather than an independent service.
sale transactions) has been available online for years. Our research examined consumer demand for this
offering with a concept called an ePayment Portal.
5 April 2010
7. Replacing Cash & Checks with P2P Money Movement
In the survey, the ePayment Portal was positioned as a revealed financial institutions would be well-served to
“money movement center — a service provided by your focus on four primary benefits. Always having online
financial institution where you could manage all of your access to a complete record and history of payments
electronic transactions from a single place online.” The of all types that run through the Portal was the benefit
positioning made it clear that the Portal would allow deemed most important by consumers (81% rated
consumers to transfer money, pay bills, send and receive it as important). Recall that this feature of record
P2P payments and view and track all the movement keeping was also identified as an important benefit
of their money (see Figure 4 for the visual depiction of the P2P payment service. In addition to record
of the concept as presented in the survey instrument). keeping, other key benefits that resonated included:
the ability to make all payments from one central
Consumer reaction to the ePayment Portal concept was location; not having to write and mail checks for bill
encouraging, with nearly half (49%) expressing interest pay or personal (P2P) payments; and reporting tools
in the concept. Of these consumers who expressed to help them budget and spend within their means.
interest, 70% would likely use the P2P portion of the
Portal. In fact, out of eight payment features presented The use of incentives or rewards to drive adoption and
in the Portal concept test, P2P was the third most popular, utilization of electronic payments such as debit cards
behind making bill payments (88%) and making same- and online bill payment has been a common practice
day emergency payments to avoid late fees (75%) (see for many years. Our research found that offering
Figure 5). This is strong evidence that many consumers incentives/rewards for the ePayment Portal has the
will react positively to offerings that integrate P2P potential to increase consumer interest. Recall that
payments into a suite of money movement solutions 49% of consumers said they would likely use the Portal
offered through an online bill payment application. without the mention of a reward. However, 69% of
consumers stated they would be more likely to use the
On the broader issue of driving consumer awareness Portal if their financial institution offered a reward.
and adoption of the ePayment Portal, the research Consumers resoundingly identified cash back awards
as the type they would
find most valuable (75%
Figure 4: ePayment Portal Concept selected this option).
Many other types of
Make Person-to-Person
payments to family reward options were
members, co-workers,
babysitters, etc. Schedule bill presented to consumers:
payments from
checking accounts travel awards, loyalty
or credit cards
points redeemable for
merchandise, preferred
S
Transfer money to an interest rates, reduced
Pay anyone or send
money anywhere in the
account you have with
a di erent nancial
bank service charges, etc.
Money
Movement
Account
world, manage and
view all of your
institution
All of these other reward
log-in
transactions in one
place – all from the Check balances and types received ratings
online money
movement center!
view payment history
for all types of between 1% and 7%.
payments
Log on to your nancial
institution’s money movement
center from anywhere, using a
Purchase and/or
load money onto
The overall attractiveness
computer or mobile phone a gift card
of the ePayment Portal
concept is further illustrated
by the fact that 19% of
Receive electronic bills
instead of paper
all survey respondents
statements (34% of the respondents
who expressed interest
April 2010 6
8. Replacing Cash & Checks with P2P Money Movement
Figure 5: Likelihood to Use ePayment Portal
49% of consumers would likely use the ePayment Portal
Of those likely to use the Portal, 70% would likely use the P2P payment feature
Likelihood to Use the ePayment Portal Of those likely to use the ePayment Portal,
likelihood to use the following features
De nitely Make a bill payment 88%
De nitely use, not use,
Make an emergency bill payment to
20% 10%
Probably 75%
avoid a late fee
not use, 10%
Send a P2P payment 70%
Receive electronic bills instead of 66%
paper statements
Might or Transfer money to an account
Probably use, might not use,
62%
I have at a di erent FI
29% 31% Have a debit card charged for a P2P or bill 49%
payment to earn debit card rewards
Purchase and/or load value onto a gift card 45%
Have a credit card charged for a P2P or bill
payment instead of checking account 38%
Source: eCom Advisors and NACHA
in the Portal) indicated they would be willing to switch The Mobile Opportunity
financial institutions to have the Portal. Additionally, the
vast majority of these respondents who are willing to Early adopters of online banking and bill payment
switch financial institutions said they were satisfied or encountered many challenges such as having to purchase
very satisfied today with their current financial institution. software, frequent payment problems and security issues.
Certainly, there is a significant difference between As these issues have been addressed, it has paved the
expressing willingness to switch banking providers way for more recent technologies such as P2P and the
in a survey instrument and really going through with ePayment Portal to gain market adoption at a faster
it. However, longitudinal research by J.D. Power & rate. Consumers have become accustomed to electronic
Associates reveals that 67% of consumers indicating payment services offered by their financial institutions,
a strong willingness to switch retail banking providers and will view P2P as an extension of them. They will
in survey-based research actually do end up switching not have the same security and technology concerns as
within a year’s time. So if an institution (or institutions) the early adopters of online banking and bill payment.
representing meaningful market share in your trade
area launches an offering that resembles the Portal One of the clearest conclusions of our research is that
and your institution does not, it is not unreasonable the first consumers to adopt P2P payments and the
to assume that there could be a noticeable impact ePayment Portal will be those having the highest degree
on attrition within your online banking client base. of comfort with the latest technologies and the greatest
Conversely, by being an early mover on a Portal engagement in other forms of online financial services.
concept, not only will you provide a valuable service This finding was resoundingly demonstrated when we
that increases engagement with your current customers, analyzed the stated preferences of consumers who have
you may capture new relationships from the competition. already adopted mobile banking and bill payment (see
Figure 6). Many of the early P2P and Portal adopters
7 April 2010
9. Replacing Cash & Checks with P2P Money Movement
will be Gen X and Y consumers, but demographics online bankers. Those who were active online bill pay
alone are not the primary factors that will influence the customers via their mobile phones demonstrated even
first movers. More than all other factors, utilization of higher interest in the concept tests — an average of
mobile banking services is the most significant indicator 35 percentage points higher than mainstream online
of likelihood to use P2P payments and the Portal. banking customers. The data clearly suggests that
there needs to be strong linkage between a financial
Quantities ranging from ~20% to ~50% of the 1,180 institution’s mobile banking services and their P2P
surveyed consumers responded favorably to several of payments and Portal offerings.
the P2P payment and ePayment Portal concept tests.
However, adoption of mobile financial services was
a clear differentiator. Consumers who were active
Conclusion and Action Items
online bankers via their mobile phones responded
The next 12 to 24 months promise to be a breakthrough
an average of 24 percentage points higher to the
period for P2P payment pilots and rollouts by financial
concept tests than the more traditional, computer-based
institutions. Our research contains evidence of a
Figure 6: Likelihood to Use P2P and Portal Relative to Current Online Behaviors
Mobile customers are likely to be the early adopters
Of Those Who Currently Use...
Computer Mobile Phone
Online Banking Bill Payment Online Banking Bill Payment
Sending money to a son or daughter in college 33% 34% 55% 63%
Sending money out of the country to a family member, friend,
associate, etc. 31% 33% 55% 70%
Splitting the cost of a gift (e.g. birthday gift, wedding gift,
etc.) with co-workers, friends or family members 25% 27% 51% 63%
Splitting the mortgage or rent with your
roommate, partner, or spouse 22% 21% 46% 61%
Paying a friend back for your portion of a
dinner bill (splitting the check at a restaurant) 19% 19% 41% 51%
Paying your babysitter, house sitter, dog walker, gardener,
house painter, etc. 18% 23% 48% 61%
Purchasing items from a garage sale or flea market and
paying the seller 16% 17% 32% 44%
Likelihood to Use the ePayment Portal:
Likelihood to use the ePayment Portal 49% 53% 76% 83%
Likelihood to access the ePayment Portal with your
mobile phone
16% 25% 59% 74%
Source: eCom Advisors and NACHA
April 2010 8
10. Replacing Cash & Checks with P2P Money Movement
large pool of consumers already active in a range payment, and the ability to track transaction history.
of online financial services that will strongly consider • Many of the consumers receptive to the P2P and
adoption of the P2P payment and ePayment Portal the ePayment Portal concepts are Gen X and Y.
concepts. As with the adoption of any innovation, Take advantage of social media to raise awareness
consumers must be convinced that the innovation and encourage utilization within these segments.
is better than the idea it supersedes. In the case of Leverage the viral aspects of P2P payments
P2P, this means being better than cash and checks. to encourage customers to build payee lists.
And as with the rollout of all new innovations in online
financial services, clear communication of the benefits • Target and market to consumers who own the
and delivering an excellent experience the first time latest mobile device technology, in particular
a customer tries the new service will be essential. Smartphones and iPhones. Develop apps that
enable transactions within 2 or 3 clicks and easy
Based on our research, we recommend the following access to payee lists and transaction history.
tactics for financial institutions to drive awareness and
adoption of P2P payments and the ePayment Portal: • Offering rewards or incentives will not be essential
to attracting the early adopters to P2P payments
• Integrate P2P payments within your online banking and the ePayment Portal. However, the use of
and bill payment applications and market the rewards/incentives (specifically cash back rewards)
integration to the active users of these services. should be considered to encourage later adopters.
Consumers are much more likely to adopt an
innovative technology if it is integrated with a • While not specifically addressed in our research,
technology they are already comfortable using. P2P payments and elements of the ePayment Portal
can generate revenue for financial institutions. The
• Integrate P2P payments and ePayment Portal use of P2P payments for cross-border remittances
services with your mobile banking services. To the clearly indicates such an opportunity. Additionally,
extent possible, incorporate them into your new 75% of the consumers who reacted favorably to the
mobile banking rollouts. Portal concept placed high importance on the ability
to make same-day emergency bill payments to avoid
• Leverage brands that consumers trust in your a late charge. These and other opportunities to
marketing efforts. 79% of consumers stated monetize these innovative payment services should
that having a trusted brand associated be explored and factored in to business cases.
with a P2P payment service is important.
• Focus on driving P2P payment and ePayment Portal Primary customer segments that should
adoption among today’s active mobile banking be targeted to adopt P2P payments and
and bill pay consumers. These consumers are twice the ePayment Portal:
as likely to adopt the P2P and Portal services
as traditional online banking and bill payment • Active online banking customers
consumers. As leading-edge technology adopters, • Active online bill payment customers
they are also likely to be more forgiving of early • Those that actively use their mobile phone to
rollout glitches than later adopters. Promote access their bank account online
common use cases for mobile P2P to replace cash • Those that actively use their mobile phone to
and check payments, as well as simplicity, speed of view or pay bills
9 April 2010
11. Replacing Cash & Checks with P2P Money Movement
For more information contact:
For more information contact:
Marcia Danzeisen
Paul McAdam 601 Riverside Avenue
5650 Blazer Parkway, Suite 100 Jacksonville, FL 32204
Dublin, OH 43017 904-854-5083
708-449-7743 Marcia.Danzeisen@fisglobal.com
paul@ecomadvisors.com
FIS delivers banking and payments technologies to
eCom Advisors provides executive consulting and more than 14,000 financial institutions and businesses
research services to banks, billers, vendors and investors in in over 100 countries worldwide. FIS provides financial
financial services technology and online banking, billing institution core processing, and card issuer and transaction
and payments. Our consultants possess 175+ years of processing services, including the NYCE® Network. FIS
direct operating experience, and are considered leading maintains processing and technology relationships with
experts in the industry. We help executives make their 40 of the top 50 global banks, including nine of the top 10.
most crucial eCommerce management decisions. For FIS is a member of Standard and Poor’s (S&P) 500® Index
more information, visit www.ecomadvisors.com. and consistently holds a leading ranking in the annual
FinTech 100 rankings. Headquartered in Jacksonville,
Florida., FIS employs more than 30,000 on a global basis.
FIS is listed on the New York Stock Exchange under the
“FIS” ticker symbol. For more information about FIS see
www.fisglobal.com.
For more information contact: For more information contact:
Dan Schatt
Colleen Morrison 2211 North First Street
13450 Sunrise Valley Drive, Suite 100 San Jose, CA 95131
Herndon, VA 20171 408-967-4443
703-561-3925 dschatt@paypal.com
cmorrison@nacha.org
PayPal is the faster, safer way to pay and get paid online.
The service allows members to send money without
NACHA supports ACH Network growth by managing sharing financial information, with the flexibility to pay
its development, administration, and governance. The using their account balances, bank accounts, credit cards
Network facilitates global commerce as a safe, efficient, or promotional financing. With more than 81 million
ubiquitous, and high-quality electronic payment active accounts in 190 markets and 24 currencies around
system. NACHA represents 11,000 financial institutions the world, PayPal enables global ecommerce. PayPal
through 18 regional payments associations and direct is an eBay company and is made up of three leading
membership. To learn more, visit www.nacha.org, online payment services: the PayPal global payments
www.electronicpayments.org and www.payitgreen.org. platform, the Payflow Gateway and Bill Me Later. Located
in San Jose, California, PayPal was founded in 1998
and was acquired by eBay in 2002. More information
about the company can be found at www.paypal.com.
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