Keeping the deposits matters as much as controlling the payments

Panelists at the Credit Union Summit during PayThink 2018 discuss Zelle, product integration, and staying relevant.

The secret to staying relevant in the fast-changing payments world might be to concentrate on the money coming in, not the money going out.

That was the take from Chris Danvers, vice president of payments and digital services at American Airlines Credit Union($7.0B, Fort Worth, TX), during Monday’s  Credit Union Summit at PayThink 2018 in Austin, TX.

“As long as you maintain that direct deposit and checking account relationship, you’ll still have the money coming in,” Danvers told attendees. “It doesn’t matter as much how the money goes out.”

That observation came during a lively discussion about peer-to-peer payments, especially Zelle, the big bank-backed P2P solution that’s expected to pass Venmo in adoption numbers this year.


continue reading »