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The Tipping Point for Mobile Pay & Deposit

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For Immediate Release: March 10, 2016


Per a market research company and technology research company 2016 may be the year for the mobile payments market to become a reality.

  • eMarketer.com, U.S. market expected to triple to $27.05 billion, a 32% gain over 2015
  • Gartner, Inc., predict by 2017, mobile commerce revenue will account for 50% of all U.S. digital commerce revenue in the U.S.   

Where is your credit union on Mobile Pay? Can your members check balances, view the transaction history, transfer funds, locate nearby branches and ATMs, make mobile deposits and pay loans anytime, anywhere, using their smartphone or tablet? What if your credit union could provide its members special offers or points when they use P2P payments* or Remote Deposit Capture?

P2P payments are not just for friends to send money to each other, now people are using it for much higher sums, larger purchases or household expenses – in the hundreds of dollars.

In 2016 the industry anticipates the final piece of the mobile payment map will be in place, that piece is the retailers. It is expected to become common place to see customers paying with their phones.

Mobile Deposits made via the camera on a mobile device is one of the top 3 transactions performed by members today.  Many of your members preferred to deposit remotely as it saves them time and money.  It also saves your credit union money.

FedComp urges its credit union clients to join the mobile movement. FedComp can support your credit union in meeting the needs of an increasingly mobile member majority before they are drawn to the competition.

Call FedComp today to learn how we can help you meet this challenge.

Public Relations FedComp, Inc.
Learn more about FedComp’s Platinum Data Processor @ www.fedcomp.com
Toll Free: 855-640-3312

 

*Person-to-person payments (P2P) is an online technology that allows customers to transfer funds from their bank account or credit card to another individual's account via the Internet or a mobile phone.

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