From Bank Systems & Technology Online…
From Bluetooth-enabled cell phones to iPods, consumers are embracing the next generation of technology products like never before. And this growing comfort with digital and wireless technologies may be largely responsible for the recent upswing in e-payments. Of course, the trend has not gone unnoticed by the financial services industry.
"Consumers have embraced electronic payments and are moving away from checks," observes Leonard Heckwolf, ACH and retail lockbox executive with New York-based JPMorgan Chase (JPMC; $1.1 trillion in assets). "With electronic bill payment and direct debit, it’s easy for consumers to use electronic payments today. A significant segment of consumers doesn’t want to write checks. In the retail payments area, the foundation is in place and the trend will accelerate."
When it comes to e-payments….
