Executive Thinking On Payments
By Lorena Harris, VP of Corporate Marketing, Vantiv
Industry executives are concerned about emerging payments—but they are increasingly ready to move forward to meet changing customer expectations.
Recently, Vantiv/Mercator researchers interviewed merchant and financial industry executives to explore their attitudes toward evolving payment methods—and, especially, the worries that keep them awake at night. (Source: Vantiv Insights 2013 Research)
Not surprisingly, mobile payments was high on the list. Executives worry about the cost of implementation and a lack of standards. Merchants wonder how to fit mobile payments into their existing infrastructure. And financial institution executives worry that if they don’t start soon, they will fall behind the competition—but if they move too fast, they might bet on the wrong technology.
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