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Beyond Mobile Banking: It’s Time to Stake the Claim for Mobile Payments

The payments industry is in transition due to rapid technology advances and consumers’ increased desire to use their mobile phones for financial activities. As the mobile channel makes this shift from informational to transactional, financial institutions have an opportunity to benefit in the way of more transactions, more revenue and more loyal and profitable customers.

This paper outlines the reasons banks and credit unions are ideally suited to support mobile payments, detailing the four dimensions of mobile payments as well as how financial institutions can leverage existing resources to enter the space.

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