While some are embracing the innovative payment method, others are still reluctant about bringing the service to members.
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Overall, the adoption of digital wallets has been slower than predictions made a few years ago but wide acceptance could still be on the horizon.
The Federal Reserve banks may be among those entities that are encouraging a shift away from traditional paper checks. The CEO of the Federal Reserve Bank of Cleveland shared how collaboration will help make the transition a smooth one.
In exclusive content to Credit Union Times’ readers from the Filene Research Institute, credit unions are urged to not to take a “wait and see” approach when it comes to new forms of payment channels.
In that report, “Innovations in the Payment Ecosystem,” Filene takes an in-depth look at making sense of critical payment trends and identifying opportunities for profiting from future innovation.
Read the entire payments focus report: