Bank Innovation

JANUARY 30, 2019

s robust marketing strategy for its retail bank has paid off, as the bank today reported that half of its new retail customers were millennials. Of Ally Financial’s 230,000 new retail deposit customers via its retail side, Ally Bank, 126,500 were millennials, according to bank’s earnings report released today.

Retail 170

Retail Millennials Marketing Strategies Strategy 170

PYMNTS

OCTOBER 5, 2018

The stated goal, according to new CEO Jim Brett – is for the brand to build back its audience particularly among millennial shoppers. Teaming up with another retailer is not wholly new ground – some J.Crew and Madewell items are already on sale, and a partnership with Hudson Bay has already been announced.

Millennials 128

Millennials Retail Branding Mobile 128

PYMNTS

DECEMBER 7, 2020

Capital One Financial Corp (CapOne) is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “risky,” Reuters reported on Monday (Dec. Customers who use their debit cards or checking accounts can still make BNPL payments, the CapOne spokeswoman said.

Capital 184

Capital Cards Millennials Regional 184

PYMNTS

DECEMBER 15, 2020

Debatably the most impactful payments innovation of recent years — and that’s saying something — BNPL is having a massive impact on retail, as evidenced by the proliferation of brands and the steady flow of venture capital to players that are defining the space. Bridge Millennials Crossing Over To BNPL. percent of bridge millennials.”

Millennials 256

Millennials Report United States Study 256

PYMNTS

AUGUST 25, 2019

The fashionistas posting on Facebook have the attention of Kohl’s , which is looking to create a curated clothing line based on the brands people are wearing most, the Motley Fool reported Sunday (Aug. Kohl’s is teaming up with the social media giant to uncover emerging brands that millennial shoppers consider cool.

Millennials 133

Millennials Data social media Branding 133

PYMNTS

AUGUST 13, 2019

In June, Costco launched a revamped digital membership app that allows members to use its mobile device rather than flashing a physical card upon entry and during checkout. This can’t be interpreted as an oversight, considering a new PYMNTS report about “ everyday apps ” found that mobile users rarely make in-app payments.

Retail 181

Retail Millennials Mobile Payments 181

PYMNTS

DECEMBER 24, 2019

All that’s left now, more or less, is the rush of returns that will all but overwhelm some retailers. However, after almost 50 years, it began to fade in the 1980s, disrupted by the emergence of store-branded credit cards. As PYMNTS reported, toy discounts have plummeted this holiday season. Top Sellers. That’s not all.

Millennials 139

Millennials Branding Trends Retail 139

PYMNTS

AUGUST 10, 2020

Consumers have been using internet technology for everything from nonessential health services to ordering from restaurants in the last few years, especially shopping more frequently online for retail products and groceries. The funds can then be deposited into any type of account, including a bank account, prepaid card or digital wallet.

Report 228

Report Payments Millennials Cards 228

PYMNTS

SEPTEMBER 30, 2020

Dramatic shifts are underway in the retail sector as it adjusts to consumers’ increasingly digital preferences. These retailers are accustomed to engaging with their customers in brick-and-mortar stores and building long-lasting relationships that lead to brand loyalty. Around The Buy Now, Pay Later World.

Payments 279

Payments Millennials Retail Trends 279

PYMNTS

DECEMBER 7, 2020

End-to-end gift card platform Qwikcilver has launched its Woohoo virtual gift card store on the Google Pay Spot Platform to enable users in India to buy and send virtual gift cards in real time, the United News of India reported on Monday (Dec. The more upscale the restaurant, the greater the decline.

Google 148

Google Cards Millennials Survey 148

PYMNTS

OCTOBER 13, 2020

Afterpay has announced its in-store buy now, pay later (BNPL) service is being offered by major retailers at locations across the country. Shoppers can use Afterpay to buy items in select retail stores using their Afterpay card, a virtual, contactless card stored in their digital wallet,” the firm said in a Tuesday (Oct.

Retail 130

Retail United States Millennials Branding 130

PYMNTS

JUNE 2, 2020

The past several months have been largely defined in the retail world by merchants and brands making quick digital pivots to stay afloat in an environment that’s gone from “digital sometimes” to “digital mostly.”. When selling online became the only game in town, retailers across the board got very seriously digital overnight.

Retail 142

Retail Meeting Millennials Branding 142

PYMNTS

DECEMBER 6, 2016

Shortly after rolling out this summer in Canada, Drop, the mobile app that gives users rewards and access to loyalty programs, has more than 70,000 millennials as customers. Using a credit card earns the customers double points. “We think millennials — some call them lazy — but they want seamless experiences.”

Millennials 100

Millennials Cards Retail Mobile 100

PYMNTS

MARCH 23, 2018

In an effort to attract millennials to its platform, Square is offering a pilot program that gives its Square Cash Card customers a dollar off their coffee purchases. The effort could change millennials’ payment behaviors, MarketWatch reported.

Millennials 110

Millennials Cards Payments Company 110

PYMNTS

APRIL 5, 2019

In the latest staff report from the New York Federal Reserve , titled “Trends in Household Debt and Credit,” it is noted that one of the features of debt is that it can “provide access to assets.”. Against this backdrop, we find, then, that millennials do not embrace credit cards as readily as other groups of users.

Millennials 115

Millennials New York Fintech Cards 115

PYMNTS

MARCH 4, 2020

That’s one of the conclusions drawn from a new report on customer loyalty from Merkle, and it holds some clues for retailers looking to improve the recency and frequency of customer visits and purchases. “To According to the report, members count on their loyalty program experience to be personalized based on purchases and preferences.

Retail 131

Retail Branding Report Tools 131

PYMNTS

FEBRUARY 6, 2020

and has attracted more than 3,000 retailers to its partnerships. Sykes believes the attraction of online companies and uber-retailers it simple at one level. Klarna has melded New York Fashion Week glitz with experiential retailing this year. The changes in fashion retail are being driven by three dynamics.

Retail 142

Retail New York Branding Millennials 142

PYMNTS

JANUARY 8, 2021

In today’s top digital-first banking news, clients of BBVA subsidiary Simple Bank are reportedly getting emails telling them that Simple is closing and the intent is to move them to BBVA, while the Treasury Department announced that stimulus Visa debit cards are being mailed to homes. BBVA to Close Simple Bank, Move Customers to BBVA USA.

Cards 143

Cards Digital Banking Millennials Report 143

PYMNTS

NOVEMBER 17, 2017

credit cards, but averages can be a bit misleading. For example, that figure includes a full 30 percent of Americans who don’t carry or use a credit card at all. The average credit card-wielding American carries about four different cards (3.7 Among millennials, that number drops below 30 percent. to be exact).

Millennials 104

Millennials Cards Lending Payments 104

PYMNTS

APRIL 24, 2017

The long-suffering team at American Express has a new headache to handle — losing the love of those millennial customers. and yes, this looks like card data breach. For a time, it seemed as though the brand might be going public, but plans have apparently changed in light of the changing state of brick-and-mortar retail in the U.S.

Millennials 109

Millennials Cards New York Branding 109

PYMNTS

NOVEMBER 4, 2019

According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017. The rise of mobile commerce and selling of digital goods has added to retailers’ fraud problems. According to the PYMNTS Securing B2B Payments Report , criminals last year successfully made off with $4.2

Fraud 124

Fraud Retail Online Study 124

PYMNTS

SEPTEMBER 21, 2018

billion in Halloween spending, the National Retail Federation ’s (NRF’s) annual survey projects spending for the occasion will reach $9 billion this year. Retailers are stocking up to supply children, pets and adults with their favorite decorations, candy and costumes for the season.”. Just under last year’s record $9.1

National 126

National Retail Millennials Survey 126

PYMNTS

JULY 23, 2020

The release says the new program is meant to incentivize those who make payments on time and “choose to spend responsibly,” praising young people in the millennial and Gen-Z population who have made the choice to use debit cards and pay on time, “yet their responsible decision of spending their own money is not rewarded.”.

Payments 181

Payments Millennials Cards Retail 181

PYMNTS

NOVEMBER 27, 2018

Convenience store operators would be wise to pay close attention to the purchasing habits of a certain subset of consumer: the Bridge Millennial — the first generation of connected consumers with spending power. Building A Better Bridge Millennial Gas App. percent), credit cards (11.1 So what do BMs want from a gas app?

Millennials 130

Millennials Mobile Payments Survey 130

PYMNTS

JULY 23, 2020

Younger consumers’ attitudes toward personal finance, payments and debt offer insights into the retail sector’s post-pandemic future. It found that millennials and Generation Z consumers are seeking installment payment options and that the latter are especially wary of debt. In this month’s Feature Story, Rocky D. About The Tracker .

Payments 181

Payments Report Retail Millennials 181

PYMNTS

OCTOBER 6, 2020

With the busy holiday season upon us, we are proud to offer a truly multi-channel payment solution that has proven to bring new customers and increased sales to our retail partners,” Afterpay Global Chief Revenue Officer Melissa Davis said in the announcement.

Millennials 200

Millennials Retail United States National 200

PYMNTS

DECEMBER 6, 2019

We have a deep dive into Colorado’s digital driver’s license effort and news on Alphabet’s new CEO, as well as data on millennial Black Friday spending. Millennials Were Black Friday’s Big Spenders in 2019. Millennials were the big Black Friday spenders , shelling out an average of $509.50 Trackers and Reports.

Millennials 101

Millennials Colorado Google Leadership 101

PYMNTS

JANUARY 2, 2019

But will 2018’s strong seasonal spending portend a happy commerce new year for retailers? The vast majority of consumers are still feeling confident about their financial situation, and younger consumers in the bridge millennial demographic are aging into their prime spending years.

Millennials 158

Millennials Fraud Maine Retail 158

PYMNTS

JUNE 22, 2020

“Post-2009, millennials demonstrated a clear aversion to financial risk, especially for lifestyle purchases, resulting in a tangible shift away from credit cards. Consumers are reaching for their debit cards and avoiding expensive credit card interest and fees,” Molnar said. Retail Response Requested.

Millennials 151

Millennials Cards Examples Retail 151

PYMNTS

JUNE 7, 2019

That, in turn, reportedly provides another opportunity for the emerging and growing legal cannabis retail sector. Legal cannabis retail has yet to find its firm footing — too many ongoing payment challenges to say that — but beer companies are taking notice of the possibilities, at least according to a report Thursday (June 6) from NBC News.

Retail 124

Retail Industry New York Millennials 124

PYMNTS

SEPTEMBER 23, 2016

Americans are carrying more debt than ever before and paying some of the highest credit card rates every recorded, according to new data. The national average annual percentage rate (APR) for credit card debt is 15.22 percent, according to CreditCards.com’s weekly Credit Card Rate Report. Credit card balances rose 3.4

Cards 100

Cards Report National Millennials 100

PYMNTS

DECEMBER 14, 2020

Although the installment concept is hardly new, Afterpay’s platform and growing catalog of retailers has brought fame and fortune to the company and its founders. A big part of Afterpay’s growth stems from the fact that its super-simple service is appealing to both customers and retailers alike. Preference For Debit. million U.S.

US 322

US Retail Cards Millennials 322

PYMNTS

DECEMBER 31, 2020

percent made voice-assisted purchases while shopping for groceries or retail goods in the last 24 hours. 35 percent of retail businesses have experienced an increase in demand. percent of millennials believe it is “very” important to receive payments in real time. percent made purchases via mobile in the last 24 hours.

Data 277

Data Innovation Payments Millennials 277

PYMNTS

NOVEMBER 2, 2020

“ Membership has its privileges ” was the nine-year ad campaign launched by American Express in 1987 to persuade consumers that it was worth it to pay an annual fee for one of its charge card products. As the slogan implied, being an American Express card member was the only way to unlock those benefits. Those are the 47 million U.S.

Millennials 246

Millennials Retail Online Report 246

PYMNTS

DECEMBER 11, 2020

Capital One Halts BNPL Transactions On Its Credit Cards. Capital One Financial Corp is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “ risky ,” for both consumers and banks. Report: Digital Lender SoFi Eyes IPO Via SPAC. Trackers And Reports. million in consumer losses.

Trends 175

Trends Fraud Millennials Community Bank 175

PYMNTS

APRIL 9, 2020

consumers who had shopped in a physical retail location during the previous week. In PYMNTS’ April report Mobile Wallet Adoption 2020: Mobile Wallet Use And The COVID-19 Pandemic , we learn that “… Apple Pay is being used in only 5.1 percent of total retail sales, excluding online and vehicle sales.”. Et tu , Millennials?

Mobile 140

Mobile Apple Cards Millennials 140

PYMNTS

JUNE 1, 2020

Capturing and then enabling card-on-file payments when consumers buy the products or services they consume in the physical world. Not surprisingly, to make consumers more comfortable shopping and checking out in their stores, retailers have rushed to enable a “ contactless ” payment experience. Uber and Starbucks pioneered it.

Cards 147

Cards Study Maine Payments 147