NACHA's PAYMENTS 2012 conference at the Baltimore Convention Center included sessions on emerging and well-established trends and practices across the spectrum of electronic payments. Credit Union Times' Robert McGarvey was there covering it and here is a quick look at some of what the experts shared with attendees during the April 29-May 2 conference.

While credit unions have a dramatic lead over banks in customer satisfaction, one leading researcher says, they lag sharply in rolling out cutting edge technologies such as mobile banking, remote deposit capture and person-to-person payments. And that will hurt.

Fiserv executive Gary Brand explains how the ease of use of mobile deposit apps on smartphones coupled with the ubiquity of those devices suddenly means that the ability to make remote mobile capture deposits is in just about every hand. And consumers want it: 43% of people will switch financial institutions to get mobile RDC.

PayPal, NCR and $1.7 billion Technology Credit Union jointly announced a software upgrade to ATMs that will allow users, with just a few clicks on the screen, to use PayPal to send money to just about any U.S. mobile phone number.

While mobile wallets are producing more buzz than transactions, panelists at this session agreed that's about to change. “We will see more changes in payments in the next five years than we saw in the prior 25,” predicted Chris Cox, a vice president with First Data.

Mobile is much more than just a new channel. It's remaking the consumer's relationship with his/her financial institution. One point to consider: mobile banking customers may actually have much more contact with their institution, perhaps logging in several times daily as opposed to stopping into a branch once weekly.

An improved user experience – eliminating steps and time – is needed before person-to-person payments gain the kind of adoption that many expected to already be in place.

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