Payments’ gradual shift from physical to digital channels is translating into fewer feet on the ground for Bank of America Merchant Services, which recently cut 10% of its workforce, citing changes in its marketing strategy.
Credit card issuers have been trying to outdo each other to offer the best rewards program. And it shows, as customer satisfaction rates with many (but not all) of their banks have never been higher in a yearly J.D. Power study. But they may not last forever.
Many of Zelle's member banks chose to migrate clearXchange users to the relaunched service. It's a potential convenience, but if executed without end-user awareness or consent it can irritate consumers.