As noncash payments take the lead some merchants are deciding that they no longer want to accept cash. But while there are costs to managing cash (and digital payments, too, obviously), there can also be a cost to a brand for refusing to accept it.
Shake Shack founder Danny Meyer recently penned a blog post giving three reasons why his restaurants were going cashless. Consumers pushed back, giving one reason why they hated the idea and, in the end, their wishes prevailed.
Through Friday, June 15, Networld Media Group is accepting entries for the 2018 Bank Customer Experience Awards from innovative financial institutions and fintech providers whose unique strategies and technologies are enhancing the consumer experience.
Christie Rice, director of the worldwide global digital signage and interactive kiosk segment for the Internet of Things Group at Intel, talks about her company's work with so many of the technologies that enable interactive customer experiences of today — and tomorrow.
At a morning workshop during the ATMIA conference, the audience heard unsettling statistics and anecdotes about the rising number of ATM physical attacks in the U.S. They also heard about new and existing solutions that can help them avoid becoming another statistic or anecdote.
Some fintech pundits believe that mobile payments players must adopt a single, universal platform as a solid push-start toward global ubiquity. On the other side are industry-watchers who believe that uniformity is the hobgoblin of stunted innovation.
It is the need to deal with the unexpected that permeates the agenda of this year's ATMIA US conference: "Securing banking technology in the Internet of Things" … "Robots for testing ATMs" … And my favorite, "Disrupt fintechs with concierge services at the ATM."
At the Bank Customer Experience Summit this week in Chicago, retail authority Doug Stephens highlighted shifts in demographics, technology and media that are completely transforming the consumer landscape — and the very essence of retail banking.
The year 2017 is almost certain to be a milestone year for the ATM — not only because it marks the 50th anniversary of the first installed machine, but also because it heralds the beginning of the industy's reinvention of the ATM as a next-gen banking device.
Implementing new technology can be difficult and costly. However, refusing to make changes can cripple your business as the competition adopts the latest innovations — potentially affecting your locations and ATM users.
It seems especially appropriate that the ATM Industry Association would give its conference in London a complete refresh as the industry celebrates the 50th anniversary of the installation of the first modern ATM in that same city.
The move towards the extinction of bank branches will have many negative effects. Prominent among them is a reduction in convenient access to cash deposit and withdrawal facilities for both the public and businesses.