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Consumer noncash payments have increased significantly between 2000 and 2015, according to new data from the Federal Reserve today.
As more and more fintech companies emerge in the financial services industry, Rep. Randy Hultgren (R-Ill.) today said that that Congress’ role must be to “make sure we’re not getting in the way of innovation” and ensure a level playing field between bank and nonbank players.
A Government Accountability Office study published today examines four “subsectors” within the fintech industry, highlighting the types of products and services offered and how they are regulated.
While just 25 percent of U.S. consumers with an eligible smartphone are using mobile payments, according to a new survey conducted by Auriemma Consulting Group, incentives provided by merchants and financial institutions can help drive growth in this channel.
An overwhelming majority of consumers — 82 percent — say they trust banks most to keep their payments safe, according to an Ipsos survey released by ABA today.