Our wallets have become more than our billfolds and pocketbooks, but unless we stop to think about it, it is easy to ignore how all the little changes add up.
If you are a card manufacturer, though, you need to think about what the how tools like tap and go cards, mobile payments, and wearables are reshaping business and daily life.
Peggy O’Leary, CPI’s Director of Sales and Client Services in Prepaid, sees payments innovation reshaping everything from what we do at the checkout counter to the design of our wallets. In this episode, we talk about how these changes open up new opportunities for financial institutions, payments providers, retailers, and consumers alike.
Contactless payments mean that cards no long need to be card-shaped. What does that mean for the shape of our purses and wallets? What does it mean for the kinds of products that can be used as a payment form factor? Our physical reality could change because of changes in payments.
Mobile wallets allow for the instant delivery of not only payments credentials, but also of information ranging from special offers to directions to information on how a purchase might affect a shopper’s budget. What does this mean for financial institutions and retailers?
In a wide ranging discussion, Peggy and the IPA talk about some of these possibilities and the promises and pitfalls that come with them.
If you want to learn more about CPI and their manufacturing capabilities for all kinds of payments tools, you can visit their Web site at: https://www.cpicardgroup.com/
If you want to stay on top of new developments in the industry, plan to attend the Innovative Payments Conference in Washington DC, April 6-8. Learn more and register at: https://www.americanbanker.com/conference/innovative-payments
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