Today, contactless transactions include everything from flashing your watch at the point-of-sale to paying for your groceries, via your refrigerator. As “smart” devices get even smarter and more prevalent, payment has become part of their foundational fabric.
That’s both good and bad for banks. On one hand, it means payments become even more prevalent and seamless. On the other, it brings a whole new cautionary meaning to, “He who owns the payment keeps the customer.”
In her blog, ICBA Bancard President & CEO, Tina Giorgio, offers three reasons why community banks should consider offering contactless payments now.