IPA Payments Pod Innovative Payments Association

In this episode we take a peek into people’s diaries with Claire Greene from the Federal Reserve bank of Atlanta, and Joanna Stavins of the Federal Reserve bank of Boston.
In their report, The 2019 Diary of consumer Payment Choice, they use data logged by consumers as part of a payments diary to understand the trends in consumer payments behavior. The initial diaries were tracked in October 2019, but given everything that has happened since then, they also discuss the results of two snapshot surveys done earlier this year.
Debit cards still remain the most popular way to pay, and despite the growth in electronic payments, cash is still holding its own.
You can find their report and supplemental data here.
Interested in becoming an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org  to learn more.

The IPA recently held its first Fintech Elevator. The online event gave participants a chance to make industry connections and win a membership in the Innovation Payments Association.
In this episode, we talk with one of our winners, Frizzmo, an app and card account that combines spending tools and financial literacy modules to teach kids about money management. In addition, it offers schools a way to raise money through an automated donation tool built into the spending tools.
We talk about why Frizzmo was created, how it works, and what it’s like to launch a company during a pandemic.
Interested in joining Frizzmo as an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org  to learn more.

Few areas of payments are more complicated than health care benefits delivered to individuals. While health plans want to give consumers more control over how they spend their dollars, the tax code restricts how those dollars can be used.
For years, health plans that wanted to provide consumers with money for over-the-counter medicines and incent behaviors like healthy eating or getting a flu shot, had to resort to an assortment of payment tools. Checks and gift cards might be distributed before or after the fact. Consumers might need to use a prepaid or debit card, but then report what they bought and prove it fit within a plan’s guidelines. Whatever the methods used, the process was cumbersome and not always effective.
InComm Health Care has developed a system that can streamline these payments. The company’s system combines point of sale services and a multipurpose card to make the payment process as easy as any card payment. The system can filter eligible items down to the SKU level, and automatically pull from different pools of funds available to the cardholder for everything from medicines to healthy food.
This system earned Incomm the IPA’s Payments Innovation award. In this episode, we talk with InComm about its capabilities and where things go from here.
InComm is a member of the IPA. Go to www.ipa.org  to learn more about the benefits of membership.

The growth of Fintech has led banks to examine opportunities in acting as a sponsor bank and offer Banking as a Service.
This offers opportunities for innovative banks, but success is not guaranteed.
In this episode, Michael Haney, the head of product strategy at Galileo, discusses the tools needed to be successful in Banking as a Service (BaaS).  We cover how to identify opportunities, what banks need to have in place to launch a program, and how to manage the business.
The IPA thanks our member sponsor, Netspend, for helping to make this show possible.
This podcast was recorded on May 18, 2023. Things may have changed by the time you hear it.

Technology has reshaped everything about banking, including one of its most basic products: deposits.
In this episode, we discuss how Banking as a Service and fintechs have reshaped the landscape for consumer deposits, the regulatory response, and what this means for the risk profile of banks.
Joining us are Kiah Lau Haslett, Banking and Fintech Editor at Bank Director, Alex Johnson, Founder of Fintech Takes, Jason Mikula, Publisher of Fintech Business Weekly, and Brian Tate. President and CEO of the Innovative Payments Association.
This podcast was recorded on September 26, 2023. Things may have changed by the time you hear it.

In this episode IPA CEO Brian Tate and our members talk with Brian Brooks, the Acting Comptroller of the Currency.
In a wide-ranging discussion, they talk about regulating during the COVID19 pandemic and beyond. Looking to the future, they discuss fintech charters, small dollar lending, and digital dollars.
The Comptroller also brings up the social justice issues that the country has been facing. He describes how the OCC has launched a new effort “Project REACh,” to address structural issues that affect the ability of Americans to build wealth. You can learn more here.
This is an edited version of the audio portion from the IPA’s Summer of Learning session. The IPA will be holding a ‘Day of Payments’ training day on August 19 and its first Fintech Elevator pitch event for start-ups on August 26.
Interested in becoming an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org  to learn more.