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"We recognized that the consumers are reluctant if not downright unwilling to pay each other electronically because they can't do that without divulging their private bank account or card numbers.
It frustrates them to wait for checks to clear. But if I say I'm going to make it possible that you never have to divulge your card numbers or your checkbook account numbers, most people would be happy to transact electronically.
So we have an opportunity to make the bank portal a more powerful component of a person's financial identity consciousness to make fast, frugal and final transactions."
Payment Pathways.com
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Great idea to get some dialogue on this impasse. The entire electronic transaction pathway is in place to make small transaction payments much more convenient, less costly, safe, and quick. All that remains is cooperation by all the parties in the pathway that are in a position to create new, incremental revenue.
ReplyDeleteRecent events compel the good banks to increase Non-Interest Income (NII) by instituting instant, irrevocable electronic payment services for small dollar transactions.
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