Whether you're traveling this weekend to visit family or staying in with your loved ones, take a moment to view some of the most popular Strategically Speaking posts of 2016.
"It’s no secret that pirate folklore included countless tales of buried treasure. One famous pirate, Captain William Kidd, was even noted as having buried his loot off the coast of Long Island because to him, the safest place to store what was most important to him was under the ground.
Today, the same principle is being applied to many financial institutions around the world (in a more positive light this time around). Many banks and credit unions rely on their data so much that a crucial malfunction resulting in the loss of that data would be devastating to both the financial institution and their customers. In an effort to preserve their data, these FIs have opted to bury their information underground … literally!..."
"Last weekend, it happened again. I used Apple Pay to buy dinner for my son and a couple of his friends in my favorite nationwide sandwich shop, and the sandwich artist behind the counter gazed up at me in amazement and said, “Wow.”
Wow, indeed. I regularly watch store clerks go all googly-eyed when they see their first Apple Pay transaction. Even I still feel a little bit of a thrill every time I nonchalantly stick my phone next to the card terminal and hear the familiar “ding” that means my transaction has been approved. It’s been out for more than a year, but Apple Pay still spawns a sense of wonder in those who see it and those who use it..."
3. Mobile Wallet Options for Issuers…In One Infographic - by Lee Wetherington, posted Jan. 6
"Since the arrival of Apple Pay, many issuers have been wondering whether and how to support mobile payments for their Android customers. In recent months, Apple Pay has been joined by the launches of both Android Pay and Samsung Pay. Each of these mobile wallets bring its own set of pros and cons for issuers. So, how do they compare, and should your institution support one, some or none these mobile wallet options?..."
"So... here we are nearly six months after the POS liability shift process has been put in place, and we have more questions than we do answers. There’s a lot of dust in the air, and it seems like it will be a long while before it settles.
I attended the quarterly EMV Migration Forum (EMF) last week and came away with the realization that in the U.S., there’s a considerable amount of work to be done in this industry. If you had told me three years ago that this consortium of passionate issuers, merchants, processors, payment networks, plastic card vendors, and device manufacturers were still actively meeting, with a high rate of attendance, to define best practices for the U.S. EMV migration, I would have said, “Nah, we’ll have it figured out by then.” But the reality is that plenty is left to be resolved..."
"If we compare the advances it has made over the last 30 years, fintech has come a long way. My life’s story has seen the shift from the days of waiting in a long teller’s line after work to being able to transfers large sums of money in half a minute from the comfort of my home. Looking back, I often think to myself, “How will fintech evolve over the next 30 years? What will be the fintech that my children will inherit compared to all the technology that I grew up alongside?” To have an idea of where we’re going, we have to take a look from which we came..."