5 things to know about the mobile transformation of payments

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Mobile technology enables members to make faster and more convenient payments than ever before.Consumers can pay for monthly expenses—or even pay the babysitter—from a mobile device when and where it is most convenient for them.These transactions are processed securely and instantly, freeing up valuable time for people to focus on other important things.For younger generations, particularly millennials (those ages 18 to 35), mobile payments are becoming a bigger part of everyday life, including at the point-of-sale. With a simple scan of a smartphone or wearable device, the payment process is made quicker and easier for everyone involved.Older generations have also taken notice of this and are adopting mobile payments, albeit at a more leisurely pace.With technology playing an increasingly vital role in our daily lives, credit unions are transforming to serve their members in line with new expectations. continue reading »last_img read more

UK refuses to commit to timetable for rollout of pension dashboard

first_img“We want to be careful to cover all the challenges associated with the dashboard, such as funding, governance as well as what role the government might have and whether legislation is necessary,” Baroness Buscombe said.She added that her department was also looking at experiences overseas to understand more of the concept of a pensions dashboard. Example of state pension information displayed on the pension dashboardThe concept of a dashboard to collate all an individual’s pension savings and entitlements was first suggested by former chancellor George Osborne in 2016. At the time, he said the tool would be up and running in 2019.Current pensions and financial inclusion minister Guy Opperman last year promised government support for the project, which has been developed so far by the Association of British Insurers (ABI) and technology firm Origo. He also reiterated the 2019 target.However, last week the Times newspaper reported that Esther McVey, the UK’s state secretary for work and pensions, was considering abandoning her department’s work on the tool in favour of other welfare reforms.The ABI said that the government risked exposing millions to fraud and lost pension pots if it abandoned its support of the pensions dashboard.More than 87,000 people have signed an online petition urging the government to support the project.The ABI and Origo have been working on prototypes for a dashboard for two years. Last month, Origo announced it had successfully tested a version for use by up to 15m pension savers. Baroness Buscombe addresses the House of Lords todayBaroness Buscombe also stated that any decision to force pension providers to partipate in the tool – as suggested by Labour peer Lord Bill McKenzie during questions – would depend on several issues, including the functionality of the dashboard, the delivery model, and its governance.She said that the government’s views on this would be set out “in due course”.Lord McKenzie had urged the government not to change tack on the dashboard plan, adding that the DWP should have ownership of the online tool.Baroness Susan Kramer of the Liberal Democrats suggested that the government was dragging its feet on the dashboard.“The industry is – to put it mildly – cross, having done all of the work that it needed to contribute towards creating a pensions dashboard,” the peer said. Baroness Buscombe referred to the country’s online pensions tracing service to help people locate details of legacy pension pots, as well as the website Check Your State Pension. She added that the DWP planned to launch a Single Financial Guidance Body next year, to replace the numerous bodies offering guidance on different areas of personal finance.The dashboard’s developmentcenter_img The UK government has not committed itself to a timetable for when a pensions dashboard will be operational, it said today.Baroness Buscombe, parliamentary under-secretary for work and pensions, said “feasibility work” was nearing completion, but highlighted the complexity of the issue in developing the online tool.“The more we look at it, the more questions we are asking ourselves and the industry,” she said, responding to questions in the House of Lords, the UK parliament’s upper chamber.The government has received criticism in the past week since a UK newspaper report claimed the Department for Work and Pensions (DWP) was considering abandoning support for a dashboard, which would collate all an individual’s pension savings and entitlements.last_img read more

Miami Dolphins player Kendrick Norton loses arm in crash

first_imgMiami Dolphins player Kendrick Norton lost his arm in a serious car accident Thursday.The the crash occurred just after 1 a.m. on State Road 836 in Miami.Norton was driving his Ford F-250 when it struck a concrete barrier wall and flipped over.The Florida Highway Patrol says a Maserati was also involved in the crash but the driver did not sustain any injuries.Norton and a female passenger were transported to a local hospital with non-life threatening injuries.The 22-year-old played for the University of Miami where he was a three-year letterman and two-year starter.He signed with the Miami Dolphins in 2018 after briefly playing for the Carolina Panthers.An investigation into the accident is ongoing, says the FHP.last_img

NNL SUPER 8 PLAYOFF: High Flying Bendel Insurance,…

first_imgInsurance scored their second of the afternoon in the 15th minute when Michael Enaruna netted a brilliant free kick.In the 35th minute, Delta Force were reduced to 10 men when Nduka Eze was dismissed for dragging down the opposition after he was adjudged to have been the last man.Emmanuel Uangboje increased the tally with 21 minutes left on clock for the Benin City side’s third goal of the afternoon after beating the offside trap.Remo Stars on the other hand set up the mouth-watery clash with Bendel Insurance with three unreplied goals against the Oluyole Warriors.Edoka Owoicho got the curtain raiser in the 33 minute while Awoyemi Abiodun added the second in the 75th minute. Olufemi Oladapo made it 3-0 in the 85th.Both Delta Force and 3SC have a tough fixture to look forward to in the hope of salvaging something from the playoff.The two games will take place at the same Enyimba Stadium venue in AbaShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Bendel Insurance FC of Benin and Remo Stars of Sagamu who both won their first games of the ongoing Nigeria National League (NNL) Super 8 Playoff in Aba yesterday are to meet today in a clash already expected to produce one of the four teams to be promoted to the topflight NPFL.Bendel Insurance defeated 10-man Delta Force 3-0 at the Enyimba International Stadium while Remo Stars also crushed 3SC by the same goal margin.The Benin Arsenal raced in front through veteran forward Charles Omokaro in the 12th minute.last_img read more