Payments Technologies to Promote Financial Health
Payments is a rapidly changing area of the financial services industry. With a range of new technologies - including Remote Deposit Capture, mobile wallets, real-time texting, and the advanced functionality of General Purpose Reloadable (GPR) prepaid cards - payments is a sector with great potential to increase the financial health of financially underserved Americans.
From CFSI’s inception, we have compiled research, supported programs, and funded innovations that seek to develop quality payment technologies. We believe that improvements in payment options can affect improvements in other areas of consumers’ lives. Reduced fees in check cashing, for example, can allow consumers to save more and build financial resilience in case of emergencies, or to pay bills on time and increase their credit rating.
CFSI invites our network of partners to contribute their support and ideas as we move from a conceptual understanding of payments and financial health to a more concrete framework that drives a healthier future.