On October 22, 2012, local Colorado credit unions participated in a one day “Mobile Payments” workshop at the Mountain West Credit Union Association offices in Denver, Colorado. The workshop was designed to provide participants with an understanding of how credit unions are going to be impacted by a “new kind of transaction”.
As an industry, there is no doubt today that traditional member “stickiness” methods will be challenged by the mobile payments space. Mobile payment technologies will affect every credit union, large and small. The challenge in this industry is to manage member “stickiness” as it exists today and create new opportunities to drive new members into credit unions in the future. This workshop is a start.
The workshop leader, Mark Fisher, CEO of Inspire Commerce, facilitated the event. Inspire Commerce is a Boulder based financial transaction technology company focused on simplifying payments for merchants while also helping democratize the payments industry. Founded in 2008, Inspire Commerce has relationships with both merchants and media alike as it works toward building the world’s first open payment platform. Mark has been featured in many predominant payments industry publications, including Credit Union Times, The Green Sheet, Bank Innovation, eCommerce Bytes, Finextra, and Pymnts.com. He has also lectured on the future of the electronic wallet, mobile payments, and micropayments at The DaVinci Institute and the 2012 Bank Innovation conference.