Ondot Systems

However, the real demand is for payments. #payments #banking #fintech #digitalfirst #digitalwallets #digitalbanking #digitalpayments #cardmodernization #CardApp

Piatt said card-present transactions have fallen by as much as 20 percent during the pandemic, but card-not-present transactions have bounced up by 40 percent. Meanwhile, contactless card payments are up 150 percent year on year, pushed by consumer demand that’s growing by the day as customers fear touching point of sale (POS) terminals that they fear could carry germs. #payments #contactless #COVID #digitalfirst #CardApp

In five years digital banking usage has risen by 30% and mobile banking usage by 57%. #payments #banking #digitalfirst #digitalbanking #digitalpayments #CardApp

Because challenger banks are not the real threat. In fact they’re in somewhat the same boat as traditional institutions when it comes to the two biggest competitive threats: big techs and the megabanks sometimes in combination. #bigtech #banking #digitalfirst #CardApp

"This was the first time we've seen the card experience as a primary driver, with two out of three Americans 55 or younger considering getting a payment card from a tech company," Bharghavan said. "Among younger Americans, one of the most interesting data points in our Harris poll is that consumers are even willing to share data in order to get card management services." #payments #BigTech #digitalfirst

The physical cards and payment infrastructure most people use on a daily basis were invented decades ago, when smart watches were considered technological marvels that only the Jetsons could use, in the year 2062! #payments #digitalfirst #cards #CardApp https://www.ondotsystems.com//now_is_a_moment_in_card_inno

According to research commissioned by Signicat this year, 63% of consumers have abandoned an application in the past 12 months, with one in five of these being because of lengthy processes and the requirement to share physical identification. Put simply, banks are missing out on gaining new customers because their onboarding processes are too time consuming and complex. #payments #onboarding #digitalfirst

New tech has enhanced the user experience, and community banks and credit unions must adapt to retain and attract tech-savvy customers. #BigTech #CustomerExperiences #payments #communitybanks #creditunions #digitalfirst #cardmodernization #CardApp

The uptick in unattended payment options will inevtiably lead to an even higher rate of contactless card usage. Remaining top-of-wallet or the default card in digital wallets is essential to capture this spend. #payments #digitalwallets #contactlesspayments

Consumers have clung to debit even as the rest of their shopping behaviors have changed. Many U.S. consumers adopted contactless payment methods for their in-store purchases while others stuck with debit as the main means for their mobile or eCommerce transactions, according to PYMNTS October Next-Gen Debit Tracker. #payments #debit #credit #contactless

Demand for quality digital experiences are not just coming from Millennials and Gen Z. Consumers of all generations want more options and and better service - at their fingertips. #payments #generations #digitalnatives #digitalfirst #inclusivity #banking

How are you capturing holiday spend this year? Trends in how and where people are shopping have emerged that are giving us insight into what issuers need to do to capture spend in the months to come. Join Glen Sarvady from 154 Advisors and Steven Ramirez from Beyond the Arc as they join Ondot's Randy Piatt to discuss: The shift to online and debit spend... Why being top-of-digital-wallet is essential this year (plus how to gain and maintain that position) How to provide cardholders with security and confidence when spending online Register: https://ondotsystems.zoom.us//39/WN_2FncwvwySVOokbmCeUczMw

Jim Marous makes it clear....don't wait for the "new normal." By then, issuers will already be lagging in innovation. Transformation now means that FIs can be prepared to offer their cardholders the standard when the dust settles. #payments #TheFinancialBrand #innovation #CardApp