ETA Releases Annual White Paper on FinTech and Underserved Consumers
2-3-2020
WASHINGTON, D.C. – February 3, 2020 – The Electronic Transactions Association (ETA), the trade association for the payments technology industry, today released its annual white paper which explores a variety of financial technology (FinTech) products and services that broaden access to the payments and financial services ecosystems. The report, How FinTech is Addressing the Needs of the Underserved, highlights the innovative products and services revolutionizing the way commerce is conducted through safe, secure, convenient, and rewarding solutions.
“ETA’s annual report summarizes the incredible work of our members to increase the number of participants who have access to the digital economy,” said Jodie Kelley, CEO of ETA. “ETA members are at the forefront of broadening access to both underserved consumers and small businesses by leveraging technology to create secure, convenient, and inclusive products and services.”
How FinTech is Addressing the Needs of the Underserved analyzes five key areas of FinTech innovation:
- Access: Increasing digital touchpoints for consumers to access and manage financial products and services, regardless of their proximity to a brick-and-mortar bank branch.
- Affordability: Ensuring consumers have products and services that meet their price point. Innovation is increasing competition and driving down the cost of services, thus increasing affordability.
- Convenience: Providing consumers with convenient ways to pay, and be paid, saves time and streamlines the financial ecosystem.
- Security: Combining the stability and security of traditional financial products and services with technology like encryption and tokenization increases consumers’ protection from fraud.
- Control and Financial Management: Providing consumers with the tools and information they need in an easy-to-use format enables better financial literacy and management.
Click here to access the full white paper.
About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $21 trillion in purchases worldwide and deploying payments innovation to merchants and consumers.
Press Contact:
Laura Hubbard
202-677-7406
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.