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Online Payments

Posted on June 27, 2016

Online Payments Challenge Traditional Banking

A new survey from FICO has discovered that online payment services have become the most popular alternative to traditional banking. According to the results 19% of consumers currently using online payment services, with another 24% saying they will start using them in the next year.

People are attracted to the ease, speed, and convenience of online payment systems, Bankrate said. But while online payments are advancing, peer-to-peer or marketplace lending is struggling to catch on.

Bankrate said that the share of the marketplace these alternative lending methods command is minimal, with no signs of growth.

Do you use our online banking at WVCCU? Did you know Apply Pay is coming very soon, we are trying to make paying easier and more convenient for you!