Some credit unions are beginning to offer payment services via wearable technologies, but many say it will take further declines in the pricing of those items before they are widely accepted by consumers or financial institutions.
It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry, a warning that it needs to end its reliance on static personal identifiers.
The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head.
Varo Money, an app designed for people who want to exclusively bank on their cell phones, announced Tuesday that it has filed formal applications for a national bank charter, adding another credit union competitor to the banking landscape.