Search
 

P2P May Not Reduce Interchange: UK Expert

In Europe, P2P payments services that include merchants have reduced cash and check use, but not card transactions.

By David Morrison | Updated on April 23, 2014

The news that CO-OP Financial Services and FIS are going to integrate and expand their Sprig and PayNet systems into a real time person-to-person payment network will mean different things to different network users, a payment expert said.

The move will elevate as many as 48 million U.S. consumers to a level of banking that has been enjoyed in the rest of the world for decades, said Gareth Lodge, a U.K based senior analyst for payments for Celent, an international banking consultant firm. And, he added, the deal will challenge all participants in the U.S. payment system with a new way of operating.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.