| US savings rate soars as consumer spending sinks, Visaâs Phalen on B2B payments execution agenda, The rise of card-on-file commerce | | | Visaâs Kevin Phalen: Moving B2B Payments From Acceleration To Execution Seven months ago, the conversation was about moving B2B payments from inertia to execution. The developments across the global economy over the last seven to eight weeks, Kevin Phalen, global head of Visa Business Solutions, tells Karen Webster, has moved those conversations from how to pick up the pace to how to just get it done. Hereâs how he sees the future of B2B payments. |
| Next-Gen Debit Tracker⢠|
| MoneyLion: Navigating Customersâ New Financial Realities Consumersâ financial priorities are shifting, and staying relevant means helping customers stay financially afloat and gird against the next crisis, says Tim Hong, chief product officer at digital banking and investment services platform MoneyLion. In the latest Next-Gen Debit Tracker, Hong explains how reduced fees, cash advances and long-term investments â all delivered digitally â will help build long-lasting loyalty. |
| The Future Of Payments Beyond The Pandemic What is the future of payments in a post-pandemic world? Six panelists across the payments spectrum â Mark Standfield, president at Midigator; Imran Hajimusa, head of Payments Platform at Silicon Valley Bank; Jim McCarthy, president at i2c; Mike Massaro, CEO at Flywire; Drew Edwards, CEO at Ingo Money; and Rob Eberle, CEO at Bottomline Technologies â weigh in with Karen Webster about the trendlines that will shape payments future. |
| Digital Payments In A Digital World Playbook |
| WSFS Bank: Plain Vanilla Digital Banking Won't Cut It Any More The COVID-19 pandemic is leading consumers to embrace digital banking, with community banks reporting double-digit percentage growth in online account openings. Lisa Brubaker, chief technology officer for WSFS Bank, explains in the Digital Payments In A Digital World Playbook, how digital tools, including QR codes, and support via text messaging are key to serving today’s customers. |
| US Savings Rate Soars As Consumer Spending Sinks – A Bad Sign For SMBs U.S. consumers built a cash cushion amid the pandemic in April as stimulus payments and expanded unemployment insurance hit bank accounts. But consumers’ savings rates soared and their spending fell even as SMBs shuttered. Uncertainty reigns as consumers living paycheck to paycheck don’t have those paychecks in place. They must make hard choices about how to use their cash cushions – which may be ominous for SMBs. |
| | KLW Commentary | | The Rise Of Card-on-File Commerce In the good old days of January 2020, omnichannel described the need to make digital a part of physical retailâs shopping experience. The pandemic and the massive shift to digital that it has ignited, Karen Webster says, has turned that concept on its ear as retailers rush to make physical part of the consumerâs digital experience. That, she says, means creating an integrated payments experience that bridges any digital or physical touchpoint where consumers and merchants meet to do business. And the ultimate in a contactless, touchless, even card-less, commerce experience. |
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