Nov
11
A Maslowian Look at Emerging Payments
Who would have thought that a high-tech company started by a hippie-esque guy who knew no better than to rip off the Beatles’ trademark, or a company started by youngsters who couldn’t even spell “googol” right, would, in a few years, present a competitive threat to credit unions and banks?
Not that Apple and Google are the only new threats on the financial services front. They’re just among the most well-known to consumers. Credit union leaders don’t need reminding that the digital revolution has made possible a host of other digital payment types and enabled the launch of dozens of non-traditional providers, from Alipay to Xsolla.
It’s no wonder then that credit unions, banks, billers, and merchants are reevaluating their payments portfolios, infrastructures, rewards programs, and strategies. Those that emerge strong will be the ones that …