From mobile payment options at your favorite eateries to instant peer-to-peer (P2P) payments with friends, the advances in financial technology are impacting how consumers and businesses interact with one another. But navigating through the latest payment options, FinTech trends and tech tools impacting the customer experience doesn’t have to feel overwhelming.
We’ve compiled the top FinTech need-to-knows curated from the leading FinTech companies in the space into an infographic which summarizes how “FinTech Innovation is All Around Us.” Findings are from FinTech players including Cardlytics, Cox, Equifax, First Data, Fiserv, InComm, NCR, TSYS and more!
Takeaways
The infographic includes research on three key areas: the latest means for prepaid and payment options, how technology is impacting the evolving consumer experience and consumer spending trends across three generations.
Consumer purchasing trends
While methods for mobile payments have been around for several years, consumers are still hesitant to jump on board. Even if small businesses accepted mobile payments, would consumers use their smartphone to make purchases?
- 55% said no
- 45% said yes
But when it comes to reward programs, to loyalty programs, 66% prefer digital reward programs over old-school paper punch cards.
Mobile banking simplifies payments
When it comes to mobile banking, there are four primary reasons consumers prefer to bank on-the-go:
- 86% view their balance
- 70% verify recent transactions
- 44% transfer funds
- 43% make bill payments
In addition to these FinTech trends, recent articles point to Atlanta as the leader in financial technology according to Forbes, a hotbed for partnerships that proved Atlanta’s global relevance in 2016 according to Global Atlanta, and a tech catalyst for growing startups thanks to incubators, universities and accelerators according to another Forbes article.
Arketi is proud to be part of the FinTech Atlanta movement organized by ATP, Metro Atlanta Chamber and the Technology Association of Georgia. For more than a decade, we’ve worked with some of the biggest brands and emerging companies in financial technology and had the privilege to work alongside local and global initiatives with key players in the space. To check out some of our latest work, visit: https://arketi.com/results/new.html.
