A Rapidly Changing Payments Landscape is Demanding Banks and Consumers to Restrategize

July 25, 2023
Alexandra Simon

 

The American payments landscape is in an era of profound transformation, driven by technological advancements, changing consumer behavior, and recent global events. The most intriguing shifts aren’t just from physical to digital, but also in the variety of non-cash methods chosen by consumers, reflected in the growth of prepaid debit cards and the declining use of private label credit cards. 

Even as we witness an overall decline in check and ATM usage, the usage patterns are evolving, impacting fraud detection and average withdrawal amounts respectively. Such changes necessitate new strategies for banks and businesses, calling for modern tools and operations to keep up with the payments landscape. Unraveling the myriad complexities of these trends is Bill Budde, host of “The Banking Budde,” to provide a comprehensive perspective on these trends and more.

 

Recent Episodes

Ace Gardner and Jacob Lewis discuss NIL Deals and Transfer Portals
View episode

College sports is undergoing a significant transformation with the advent of Name, Image, and Likeness (NIL) rights and the increasing prevalence of transfer portals. These changes are reshaping how college staff operate, presenting both opportunities and challenges. With the rise of NIL deals and transfer portals, understanding the behind-the-scenes impact on college coaching staff…

sales process automation
View episode

Amid the rapid pace of technological advancements, sales processes are undergoing significant changes. Companies are increasingly pressured to enhance efficiency, accuracy, and customer satisfaction. According to Forrester’s 2023 report, a staggering 90% of global business buyers experienced stalled purchasing processes due to economic headwinds, emphasizing the importance of price transparency and the need for…

thaly palanisamy as new president
View episode

Stenograph, LLC is pleased to announce Thaly Palanisamy as president. In his role, Mr. Palanisamy will guide Stenograph in executing its strategic vision: Empowering the capture, preservation, and accessibility of verbatim records. “Thaly’s leadership skills, combined with the Stenograph strategy deployed by our talented team, will ensure success as we charter our course for the…