Yesterday, our article “Bluebird Upgrade: Trouble for Brick-and-Mortar Banks, or an Opportunity?” appeared on bankinnovations.net – you can read the full article here.
The title explains most of the article’s main point, but to summarize quickly: Bluebird (the Walmart/American Express prepaid card) last week added FDIC insurance and check writing to its accounts, making everyone wonder if the day had finally come when banks need to compete with online payments apps. That is gradually starting to become true; however, because of the adaptability of many new payments technologies, there also exists an opportunity for banks who embrace the new digital wave instead of trying to defeat it.
As a company that bridges the gap between an “old-school” technology like checks and newer electronic banking technologies, this type of story is obviously of interest to us, and something we’ll be keeping an eye on down the road.
