News from the Wire

TMG webinar to explore predicted impact of Apple Pay

Wednesday, October 01, 2014 — 11:40:02 (EDT)

Des Moines, Iowa, Oct. 1, 2014 – Payments processor The Members Group (TMG) is presenting a complimentary webinar, “Mobile Payments: Momentum from Apple Pay,” for financial institutions (FIs) on Tuesday, October 7.

Hosted by TMG Senior Product Manager Brian Day, the hour-long event will provide insight on how NFC, biometrics and tokenization – three technologies exploited by Apple Pay – will impact payment card issuers and the larger payments industry. Day has played an integral role in TMG’s mobile and wearables strategies, which aim to position TMG clients for continued success as the payments industry evolves.

In a communication to TMG clients, TMG CEO Shazia Manus said, “TMG has been preparing for the day payments would be made using NFC and tokenization. With the introduction of Apple Pay, that day has arrived. What some may see as a disruptor to the payments industry, TMG views as validation of the path our experts have been traveling.”

“Although the announcement of Apple Pay has created quite a bit of buzz about the new future of payments, EMV, NFC and tokenization have been part of TMG’s strategic product roadmap for the past 18 months,” said Day. “What EMV promises to do for card-present fraud, tokenization promises to do for card-not-present fraud. Just as we have enabled a streamlined process for our clients to migrate to EMV, TMG will provide simplified token solutions for our issuing clients.”

According to a survey TMG recently conducted with a select group of 68 FI clients, more than half (40) plan to enable their cards for tokenization by the end of 2015.

During the webinar, Day will share the results of his research into digital payments technology and talk about the expected impact of several different types of solutions, including Apple Pay. He also plans to explore how these solutions may impact community financial institutions’ digital banking, delivery channel and marketing/branding strategies.

Mobile Payments: Momentum from Apple Pay Tuesday, October 7, 2014 1:00 to 2:00 p.m. CT

Online registration for the webinar is now open at bit.ly/1sLaF2Q .

About TMG

The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com .

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Source: Company press release.