Pump up your payments revenue

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Invisible payments, new competitors, and a shifting consumer mindset are threatening payments revenue, which is made up of interchange, interest income, overdraft and other fees.Because of this, preserving—and even growing—payments-related revenue is a top priority for high-performing financial institutions.While payments revenue may not be as high among credit unions as the nation’s major banks, one fact is certain: credit card programs are typically the dominant revenue engine inside a cooperative’s payments programs. At close to 2.5%, they generate the highest return on assets across U.S. retail financial products.Lost income is not the sole worry for credit union leaders strategizing for the future of payments. Just as important is lost data. continue reading »last_img

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