PYMNTS

JANUARY 20, 2021

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

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PYMNTS

JULY 1, 2020

Despite the surge in mobile payments and online banking , no one is predicting the disappearance of traditional banks and their brick-and-mortar branches. . consumers who have at least one credit or debit card and mobile device revealed that 24 percent would be “very” or “extremely” likely to switch to the new generation of banking.

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PYMNTS

FEBRUARY 20, 2020

Yet, what if these companies extended their presence into banking by offering accounts that improved the way consumers use and manage their credit cards and debit accounts? If this statistic fails to grab the attention of the banks, perhaps this one will: $1.6 In fact, 24.3 The research found that 28.5

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PYMNTS

NOVEMBER 27, 2020

More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Around The Next-Gen Debit World. Consumers are also thinking “virtual” when it comes to gift cards.

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PYMNTS

JANUARY 22, 2021

PYMNTS January 2021 Next-Gen Debit Tracker® done in collaboration with PULSE , A Discover Company, notes, “Banks, government agencies and retailers have scrambled to adjust to consumers’ digital spending and payment shifts during the pandemic, but doing so swiftly has presented security challenges.

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American Banker

APRIL 4, 2024

The credit and debit card-issuing giant's Chase Media Solutions will help fund new loyalty programs to offset downward pressure on card-swipe fees and the potential erosion of card spending volume from the rise of faster payments and open banking, experts say.

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Gonzobanker

MAY 23, 2022

Banks and credit unions should be developing intentional strategies to counter the loss of overdraft fee income. Momentum is growing for banks and credit unions to eliminate or significantly reduce overdraft fees, and many institutions are hard at work planning for how to navigate this revenue transition. Market Debit Card Spend.

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PYMNTS

SEPTEMBER 18, 2020

Say what you might about the bifurcation between public markets and economic conditions – where stocks go up even as unemployment remains high and consumer spending may be sputtering. News about Chime ’s latest funding round might give pause when comparing the tech-savvy upstart’s valuation against some traditional banking players.

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PYMNTS

JULY 2, 2020

debit payments were contactless before the pandemic — a rate that has since leapt up to 40 percent. Financial institutions (FIs) are therefore expected to offer more contactless cards this year and some are also unveiling services intended to help consumers easily add cards to their digital wallets.

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PYMNTS

SEPTEMBER 23, 2020

That left FIs scrambling to “rapidly figure out how to get that same emotional and engagement outcome when the possibility of face-to-face is virtually nonexistent,” Randy Piatt , head of product solutions at card technology firm Ondot Systems , told PYMNTS in a recent conversation. Simple: Start with the cards.

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Bank Innovation

MAY 8, 2017

Will giving customers more direct control over their debit cards stop fraud? Barclays customers now have the ability to shut the remote spending (online or mobile) function of their debit card, the bank announced today. Barclays bets the feature will help halt card fraud; about 25% of the U.K.

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PYMNTS

FEBRUARY 24, 2020

A new proposed service by the payments provider would let parents create spending accounts attached to debit cards for their teenage children, giving them more flexibility in spending at an early age, as opposed to just handing them a few dollars. It would also allow parents to set spending limits in a new way.

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PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. consumers now count themselves as “ debit-centric ” users, a sizable jump over the 33 percent who said the same about credit cards.

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PYMNTS

DECEMBER 21, 2020

A new survey has revealed the steep plummet the consumer credit market took as the pandemic began, the Federal Reserve Bank of New York reported. The Federal Reserve Bank of New York’s Center for Microeconomic Data released results on Monday (Dec. percent decrease of credit card spending in April as opposed to a year prior.

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PYMNTS

DECEMBER 23, 2020

The teenager with a Fortnite habit who manages to clean out Dad’s checking account via the debit card linked to the gaming account. I mean, the average American doesn't have $400 in emergency savings and pays $350 a year in banking fees. Step aims to fill that hole by creating what it calls “family banking services.”

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PYMNTS

NOVEMBER 12, 2020

Safety-minded consumers the world over can now be seen tapping contactless cards, scanning QR codes or utilizing voice ordering technologies to make purchases without potentially putting themselves or others at risk of contracting the virus. The Beyond The Card: Toward The Cardless And Contactless Future report, a PYMNTS and i2c Inc.

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PYMNTS

NOVEMBER 19, 2020

Alpesh Chokshi, head of business development, Citi Global Consumer Bank, said in a statement on Wednesday (Nov. Citi Plex account holders will receive a debit Mastercard, an auto provisioned instant digital debit card. Users can also connect their bank accounts and get a “searchable overview” of finances.

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PYMNTS

JULY 17, 2020

Mobile card apps went from nifty to necessary when the darkest imaginings of last March had people picturing COVID-19 on every surface, suspended in every breath. PYMNTS’ July 2020 Building a Better App Playbook , done in collaboration with Ondot , focuses on the rise of credit and debit usage amid the pandemic’s backdrop.

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PYMNTS

JULY 7, 2020

Using credit cards (aka spending the bank’s money instead of your own) seemed so cool — until it suddenly wasn’t nearly as cool anymore. It’s unheard of and makes dependable debit the belle of the ball once again as people consider the upcoming winter. My Money, My Way. Credit Could Take a $100 Billion Hit.

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PYMNTS

JANUARY 30, 2020

Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018. Around The Next-Gen Debit World. The solution is.

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PYMNTS

SEPTEMBER 23, 2020

In today’s top payments news around the world, PayPal and Mastercard are adding more European Union (EU) countries to a debit card offering, while European Central Bank (ECB) President Christine Lagarde has called for a digital euro. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering.

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PYMNTS

DECEMBER 22, 2020

Debit Wins Out. The overall cautiousness and sense of financial prudence, he said, can be seen in the fact that consumers are embracing debit transactions over credit, using cash on hand rather than choosing to build their liabilities on a credit card. I think debit ultimately wins out,” Fagan continued.

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PYMNTS

JANUARY 20, 2020

There are a few common themes among big bank earnings reports. consumer spending is carrying over to other areas where banks get their bread and butter. And, increasingly, digital conduits are gaining a share of consumer and commercial spending. Spending, Done Digitally. In the U.S.,

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PYMNTS

JUNE 17, 2020

At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. Expensify Links Cards To Booking. Emirates Islamic Launches Cards For SMBs.

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PYMNTS

DECEMBER 10, 2020

Bank of America customers are spending more across all accounts than they did last year, but more stimulus is needed to support small businesses and people who are unemployed, according to CEO Brian Moynihan. Further, banks have not had to use the billions set aside for anticipated loan defaults. billion, down from $5.8

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PYMNTS

NOVEMBER 20, 2020

Loyalty and rewards programs have long been a common way for banks to persuade consumers to sign up for and use their credit and debit cards, but a surprisingly few number of cardholders say they are offered the types of rewards programs they really want. percent of credit card holders and 3.1 There are also 10.7

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PYMNTS

MAY 12, 2020

There was a time when consumers did not require much more from their local bank than a checking account, savings account and an ATM card. Consumers are paying with credit and debit cards more than ever before, and they are increasingly looking to their smartphones to gain greater control over how they spend and manage their money.

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Regional National Cards Mobile 241

Gonzobanker

AUGUST 10, 2022

Gonzobankers might want to warn their customers that their credit card rewards may go away because the merchants’ favorite senator is at it again! Dick Durbin (D-IL) introduced legislation recently to require multiple networks for credit card transactions. Banks, credit unions, Visa, MC? cash back credit card.

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Bank Innovation

JUNE 12, 2018

Mobile-only challenger bank Starling announced last week that Google Pay has been added to their mobile app for Android. They can also link a Starling debit card and start spending before the card even arrives. bank to allow users to set up Google Pay […]. Starling is the first U.K.

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PYMNTS

APRIL 11, 2019

Coinbase , the cryptocurrency exchange operator, announced Wednesday (April 10) the launch of the Coinbase Card in the U.K., which is a Visa debit card that lets customers in the U.K. spend crypto as easily as they spend money sitting in a bank account. The Coinbase Card is only available in the U.K.,

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PYMNTS

JUNE 3, 2020

Consumers are also rethinking whether they should be paying for goods with cash, credit cards or debit cards. Grocery Spending Climbs. Gas is not the only sector that has been hit, as store closures and consumers’ desires to trim spending have resulted in steep declines in retail purchasing.

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PYMNTS

JANUARY 25, 2021

To get a glimpse of the state of spending, one needs only to look at the card networks, the gross dollar volumes and cross-border activity to get a sense of where debit and credit are picking up, and where travel is recovering – and where it’s not. Some Overall Trends . Some general trends connect each of these companies.

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United States Payments Cards Trends 230

PYMNTS

JANUARY 19, 2021

s first publicly traded neobank, with a branchless digital-first approach to financial services that comes right as the pandemic has forced branches to close, and banking across online platforms is gaining critical mass. In another example, he said that rewards on debit spend could be used to pay down LendingClub loans.

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PYMNTS

OCTOBER 12, 2020

A new checking account from Chase will aid children in getting a head start on banking, a press release says. With Chase First Banking, built in collaboration with Greenlight, parents and kids will be able to work on managing allowances, check off chores and look at spending, the release says.

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PYMNTS

DECEMBER 14, 2020

Preference For Debit. Molnar said Afterpay is not only benefiting from its easy-to-use platform, but also from the fact that consumer preference has shifted toward using debit over credit. Ninety percent of our transactions are paid with a debit card, not a credit card,” Molnar said. million U.S. Lower Loss Rates.

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Gonzobanker

AUGUST 3, 2023

The time has come for some truth on the world of payment card flips. disrupted banks’ income on debit cards. While banks won’t immediately feel the effects that Durbin 1.0 had in 2011, they’re likely to see an 18% to 25% volume shift from signature to PIN card transactions by the end of 2025.

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PYMNTS

MARCH 30, 2020

Debit cardholders often choose this payment method because it is more secure than carrying cash — which cannot be recovered if lost — and may safeguard them against spending more than they have, which is not the case with credit cards. Around The Next-Gen Debit World.

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