Whats in Your Wallet?: Mobile-Payment Plays for FIs
Lee Wetherington, ProfitStars®
How does Apple Pay compare to Android Pay, Samsung pay, PayPal’s digital wallet, MCX CurrentC or Google Wallet? Has NFCtruly won the war against other mobile payment technologies like HCE, BLE, and barcodes? What about Magnetic Secure Transmission (MST)? What’s working, what’s not, and why does it matter? Should financial institutions offer their own wallets? If so, what exactly is the transition from mobile banking to mobile personal finance management (PFM) and mobile payments? With over half of Gen Y reporting problems with impulse purchases, know when (not) to purchase is more important than paying in a new way. Fortunately, financial institutions are uniquely positioned to provide the funds-availability context consumers desperately need – and reap new streams of revenue in the process. Join us for a candid review of mobile payments, where we are, what’s ahead, and how to proceed.
About Lee Wetherington
Lee Wetherington, AAP, is Director of Strategic Insight for ProfitStars®, a division of Jack Henry & Associates® (JKHY: NASDAQ). Lee directs the development of actionable insight and strategy for the financial services industry at large. To this end, he creates programs, presentations, and articles designed to orient and educate financial executives on the trends and implications of new technologies. He routinely delivers keynotes nationwide focusing upon opportunities and challenges in payments and the online/ mobile/social channels, and he is widely renowned for his unique style of comedic delivery.
Mr. Wetherington has delivered over 400 keynotes for state, national and international trade groups, including the American Bankers Association (ABA), American Institute of CPAs (AICPA), National Automated Clearinghouse Association (NACHA), Credit Union National Association (CUNA), Credit Union Executive Society (CUES), Independent Community Bankers of America (ICBA), Bank Administration Institute (BAI), and the Federal Deposit Insurance Corporation (FDIC). He has served as Technology Faculty Chair for several graduate schools of banking and management, and has delivered guest lectures on leadership and technology at universities across the country. He was named “Strategic Alliance Executive of the Year” at the 2013 Golden Bridge Awards, which recognizes the world’s top executives across every major industry globally. Lee’s articles and commentary have been published in American Banker, BAI’s Banking Strategies, ABA’s Bank Marketing and ICBA’s Independent Banker.
Lee Wetherington received bachelor degrees in Economics and English from Duke University in 1990, and, in 1993, he completed graduate studies at Emory University. In 1995, he earned the distinguished Accredited ACH Professional (AAP) certification from the National Automated Clearing House Association (NACHA).
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