Search Results
Briefing
International remittances
This article describes some of the means by which individuals remit funds internationally -- informal networks, money transfer operators, financial institutions and other options -- and discusses some of the factors that may influence the choice of provider.
Briefing
Paper, plastic... or phone?
This article examines mobile-phone payment and banking alternatives in the United States. It explores prospects for growth, available technologies, and the outlook for one or more technologies coming to dominate the market.
Briefing
Developments of QR Code-Based Mobile Payments in East Asia
Initiatives facilitating QR code-based mobile payments in Japan, Singapore, and Hong Kong may address some pain points of banks, nonbanks, and merchants, but whether they address consumers’ depends on factors such as fragmentation and overall digital commerce experience
Briefing
Stored-value cards: a card for every reason
This article discusses the various uses of stored-value cards and the different degrees of their use and acceptance four years after their introduction.
Briefing
Developments in merchant acquiring
This article discusses the origin and roles of merchant acquiring; the models for acquiring; and relevant developments in legislation, PCI compliance, and the Single Euro Payments Area.
Briefing
Could Municipal IDs Facilitate Access to Financial Services?
Of the approximately 5.6 million U.S. households that did not have a bank or credit union account in 2023, about 13 percent cited not having the identification (ID) required to open an account as a reason for being unbanked. Municipal ID programs provide a form of local identification and can be designed to facilitate access to banking and financial services, though challenges to achieving this potential remain.
Briefing
As Earned Wage Access Grows, Oversight Tries to Catch Up
Earned wage access (EWA) services have grown in popularity as more providers offer them and more businesses and consumers use them. However, the complex fee structures and high costs of EWA, as well as some users’ heavy reliance on these services, have raised concerns. Regulatory and legislative bodies have begun to respond to these concerns, with states taking the lead in proposing or passing EWA legislation.
Briefing
Change is Coming: What the EMV Migration May Mean for Payments Innovation
This article considers how the upcoming shift from magnetic stripe to chip technology may affect the survival of card-based payment innovations.
Briefing
Walmart Checking and Apple Savings: Different Motivations, Similar Outcomes?
Walmart and Apple have announced plans to offer traditional financial accounts. Walmart’s consumer checking account may advance financial inclusion by increasing account access to unbanked and underbanked consumers. Apple’s consumer savings account may change how credit card issuers offer rewards to their customers. Both offerings are likely to increase competition in the financial services industry, though whether they ultimately benefit consumers remains to be seen.