Speed, Security And Simplicity: The Three S’s Of Payments Innovation

From the biggest transactions between enterprises to the small weekly allowances doled out weekly by 70 percent of America’s parents, there are three ingredients necessary when trying to reap the many rewards of digitization. First, it has to be fast, because no one likes standing in line. It has to be safe, because trust is the grease that keeps the financial services wheels spinning. And it has to be easy to use – because if it isn’t, customers are less likely to embrace complexity than to move on to a simpler option.

Data:

65: Share of credit union customers that report choosing a CU because they trust it as their primary financial institution.

60 percent: Portion of Dutch consumers who will abandon a transaction if they cannot pay with the IDEAL mobile wallet.

59 percent: Share of executives surveyed that identified ePayables as a mechanism to increase speed of transactions.

37 percent: Adoption rate of Fast Lane Self-Checkout by grocery customers within a few weeks of its launch.

$9.06: Average weekly haul children pull in via their allowance.