In 2015, mobile payments were quickly moving from an emerging technology to an everyday consumer expectation, with millions of retailers jumping on board to accept payments through services such as Apple Pay and Samsung Pay. Creating a more seamless, convenient and frictionless payment experience, mobile payments had reached critical demand.
But few financial institutions had joined in, leaving mobile transactions on the table and putting their top-of-wallet status at risk. Banks looking to enable mobile payments needed help – fast. Especially community banks and smaller financial institutions who needed implementation help in order to quickly compete with the larger banks.
FIS marshalled its scale to simplify the Apple Pay enablement process and bring more FIs into the mobile payments ecosystem. With one big push in 2015, FIS took the number of Apple Pay enabled institutions from five to more than 200 – more than all other firms combined. In just one year, financial institutions have seen a collective increase of over 350 percent in monthly transactions.