A Look Under the Hood: Perspectives on Payments
New payment rails is a growth industry, says Gene Neyer of U.S. Bank. “This is an incredibly interesting and vibrant area,” he added.
Neyer joins Josh Karoly of Netflix, Kathy Strasser of IncredibleBank, and Connie Theien of the Federal Reserve Bank of Chicago for the session “A Look Under the Hood: Three Perspectives on Multiple Payment Rails in One Payments Landscape” on Tuesday at Smarter Faster Payments Remote Connect.
The panel of end-users and practitioners discusses the key features and drivers of the FedNow Service – and whether they tend to adopt the new payments system when available – as well as how new payments rails may have changed their business models.
“The entertainment industry has been slow to adopt any form of electronic payment, let alone faster payments. But we are getting better. Same Day ACH is typically all we utilize,” Karoly said. “Frictionless experience is very important to me. We want the decision point to be ‘Do I like Stranger Things’ or not, and not the payment.”
Strasser agrees that her bank is interested in all things instant or faster payments. “Customer expectations have drastically changed over the past 12 months. They expect leading-edge functionality,” she said.
Join Us at Payments 2022
Nashville, Tennessee | May 1-4, 2022
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Technology and information are making payments smarter and faster. New capabilities are enhancing the user experience, enriching decision making, and instilling greater security. Smarter Faster Payments is a unique industry venue designed for diverse organizations that are driving innovation, delivering value through new solutions and services, and employing these offerings to meet their business needs and transact with their customers. |
