PYMNTS

JANUARY 14, 2020

For its part, Venmo now has an option to transfer money to the bank without a debit card for the same fee. And there is a credit card angle, too, which will apply to dealing with Gen Z users of P2P going forward. Most of these P2P players still allow consumers to use credit cards to fund these transfers,” he said.

Innovation 160

Innovation Payments Millennials Cards 160

PYMNTS

DECEMBER 28, 2018

Charles Dickens’ famous starter to A Tale of Two Cities , as it turns out, is a pretty good way to sum up the year 2018 from the view of the alternative financial services segment. However, as 2018 wore on, headwinds started to blow back on the segment, most especially in the form of rising interest rates.

Millennials 145

Millennials Lending System Data 145

PYMNTS

FEBRUARY 20, 2018

Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. A fair portion of that interest rate, according to the Fed, was an uptick in mortgage lending. Revolving outstanding credit, made up primarily of credit cards, increased at a 13.3 Credit Card Troubles. percent annually.

Lending 105

Lending Cards America New York 105

PYMNTS

JUNE 26, 2018

And not just one branch of underwriting — for a short while there, it seemed like all of it had hit Game Over status — with consumers; SMB and even enterprise-level lending slowed to a near stop. ” When one steps back, he noted, and looks at the total picture for 2018, it is notably different from 2008 in many regards.

Millennials 116

Millennials Lending United States Comparison 116

PYMNTS

AUGUST 10, 2020

The funds can then be deposited into any type of account, including a bank account, prepaid card or digital wallet. Only 13 percent of consumers and 8 percent of microbusinesses get their money through an instant payment to a debit card, credit card, digital wallet or prepaid card.

Report 228

Report Payments Millennials Cards 228

PYMNTS

MARCH 10, 2020

What instant lending innovation have shoppers fallen in love with? Between 2018 and 2019, there was a 162 percent increase in buy now, pay later (BNPL) downloads – rising to roughly six million – of the most popular new “layaway” apps by the close of last year. Here’s a hint: We’ll tell you now … and you can thank us later.

Case Study 135

Case Study Retail Millennials Branding 135

PYMNTS

MAY 29, 2019

billion in 2018, up from under $1 billion in 2013. Over the last year, we’ve worked aggressively to grow SoFi from a desktop lending business to a broad-based, mobile-first financial platform enabling members to borrow, save, spend, invest and protect their money,” said Anthony Noto, CEO of SoFi. percent annual percentage yield.

San Francisco 116

San Francisco Capital Millennials cryptocurrency 116

PYMNTS

DECEMBER 27, 2019

Strong balance sheets in key areas like credit card debt ($64.4 That help is forthcoming, as in the case of the Central Bank of Ireland , which is changing regulations to favor more CU lending with higher limits. A Small Change It’s Not. billion), car loans ($382.9 But credit unions must remember that trust is their cornerstone.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

PYMNTS

APRIL 4, 2019

As of the last quarter of 2018, total U.S. According to the report, between 2005 and 2010, mortgage debt represented 78 percent of total household debt; as of late 2018 mortgage debt accounts for only 71 percent of the total. household debt stood at $13.58 They make up 10.7 percent of household debt respectively.

US 116

US New York Trends United States 116

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. turning Digital p2p payments into debit cards.

Cards 71

Cards Fintech UX Strategy 71

PYMNTS

MAY 28, 2019

Indonesian ride-hailing and online payment company GO-JEK , for instance, is expanding its financial technology services through partnerships with peer-to-peer (P2P) lending firms Dana Cita, Aktivaku and Findaya. billion – of funds were lost to card fraud in 2018, up from $1.4 Just under $3 billion – or $2.7 billion in 2017.

Apple 159

Apple Mobile Fraud Branding 159

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151

Ohio Lending Iowa South Dakota 151

FICO

AUGUST 20, 2019

China Construction Bank (CCB) hopes to reach more millennial consumers and is using alternative scoring services to improve decision making and improve financial inclusion efforts to reach this demographic. Our new risk-based underwriting strategy is helping to us to maximize our overall profitability while expanding lending to millennials.”.

Big Data 40

Big Data Data Marketing Millennials 40

CB Insights

OCTOBER 10, 2018

Asia is highly competitive, with tech giants like Ant Financial and Tencent’s WeChat actively dominating mobile payments and expanding their reach in financial services across lending, wealth management, and insurance. The core product is a digital-first app that tracks spending from a linked card issued by either MasterCard or Visa.

Retail 78

Retail Cards Millennials Mobile 78

PYMNTS

JULY 23, 2018

May 2018’s household income numbers were up nearly 2 percent from last year, they say, due largely to increases in base compensation resulting from a tightening labor market. And that’s not a “Geez, I forgot to pay the credit card bill since I was away for a week” late paying the bills situation. Are the more than a third of U.S.

Cards 122

Cards Groups Report US 122

PYMNTS

AUGUST 21, 2018

Adding to the fun — consumers born in the 1980s to 1990s (aka millennials) that are widely counted as the future of economy — carry the highest debt load of any generation according to the Federal Reserve Bank of St. Sixty-six percent have credit cards. percent in the second quarter, flat with the first quarter of 2018.

US 100

US Millennials New York St. Louis 100

PYMNTS

SEPTEMBER 7, 2018

The magic of a better-than-a-taxi-ride ending and simply stepping out while the payment resolved quietly by itself on the backend was foremost a central appeal for Uber, particularly when stacked against the always somehow broken card readers in the back of cabs that required cash payments. “We wanted to formalize a lot of it.”.

San Francisco 101

San Francisco Course Cards Arizona 101

CB Insights

NOVEMBER 5, 2019

Both Ant and Tencent have converged on a growth playbook that focuses on converting their massive audiences of digital payments users into consumers of financial services across lending, wealth management, insurance, and credit scoring. Making virtual credit a part of everyday life. In July 2019, premium sales exceeded $83M.

Fintech 51

Fintech social media Analysis Marketing 51

FICO

AUGUST 15, 2018

We recently studied the impact of millennials’ student loan debt on their willingness and ability to obtain new mortgage loans. Also, building off our millennial research, we quantified how mortgage 90+ day delinquency rates over 2 years vary by borrower’s age. We used a nationally representative sample to identify roughly 2.8

Trends 53

Trends Millennials Course Payments 53

Fintech Labs Insights

SEPTEMBER 25, 2016

As our Best of Show voting revealed, the appeal of technology to solve more everyday problems like buying a car – or a gift card – remains strong as well. The company facilitates the purchase, sending, redemption, and exchange of gift cards using digital technology that puts the smartphone at the center of the process.

blockchain 12

blockchain Trends Fintech Cards 12

Fintech Labs Insights

AUGUST 26, 2016

They have Braintree -owned Venmo’s ( FD2016 ; F2013 ) millennial-focused social components stamped all over them: Founded by former N26 employees, Cookies launched this week to offer Germany-based users a free P2P payment solution. Venmo competition heats up. Lately we’ve noticed more P2P payment app competitors trickle in.

Trends 12

Trends Fintech ATM Google 12