American Banker: It’s not too late for bankers to make inroads in payments

In an opinion piece, Edward Neumann and Mary Beth Sullivan ask why banks aren’t more aggressively pursuing payment-related business opportunities.

There are a limited number of areas where significant growth in demand over the next several years will create the potential for substantial revenue; the payment business is one. Banks should view the aggressive moves by new entrants and nonbanks as evidence that they are missing opportunities and that their core business is under threat.

Eight years after Furash published our study, it appears that some of the more dire predictions are coming true.