Payment Savvy

AUGUST 27, 2020

It is not a surprise that consumers today are making more online payments than ever before. Interestingly enough, research by PWC found that the number of consumers making mobile purchases increased from 7% to 17% from 2010-2017. Thus they are the most common payment method consumers use for paying online.

Consumer 52

Consumer Online and Mobile Banking Direct Deposit Payments 52

PYMNTS

OCTOBER 5, 2020

Americans consume roughly 13 billion quarts of popcorn every year, roughly 30 percent of that at the movies. Well, that was back when theatres were open, before COVID, and going to the movies was a regular part of a consumer’s routine. consumers, as well as the behavior of a sample of Main Street business owners. 10 and Sept.

Consumer 122

Consumer Volume Continuity Returns 122

PYMNTS

JULY 2, 2019

In a reported leak of billions of user records in a smart home data breach, researchers have found that a database that belongs to Chinese firm Orvibo has been left open without a password for protection. The research found that shoppers worldwide bought 663 million smart home devices in 2017 and that number is said to rise in 2023 to 1.94

Data Breach 59

Data Breach Breach Research Database 59

PYMNTS

MAY 9, 2017

Mobile payments using biometrics to authenticate the user is forecasted to reach close to $2 billion in 2017, up from $600 million last year, according to new data from Juniper Research. Juniper Research found that Chinese manufacturers are including fingerprint sensors in mid-range smartphones as well.

Mobile Payments 55

Mobile Payments Online and Mobile Banking Authentication Payments 55

PYMNTS

FEBRUARY 22, 2018

Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 billion successfully lifted in 2017, the highest amount in four years. Al Pascual, Javelin’s research director and head of fraud and security, expects 2018 to be another record year.

Identity Theft 56

Identity Theft Account Takeovers Push-to-Card Social Security 56

PYMNTS

APRIL 6, 2020

Among its many profound impacts, the COVID-19 pandemic has dramatically altered how consumers shop. Even before large-scale stay-at-home policies went into effect, most consumers sought to limit direct contact with people and objects as much as possible when they went out. percent reported Walmart Pay usage. percent reported in 2019.

Point-of-Sale (POS) 93

Point-of-Sale (POS) Consumer Shutdown Contactless Payments 93

PYMNTS

FEBRUARY 10, 2017

After a subpar holiday shopping season, research firm Moody’s announced that it had revised down its forecast for the sector’s operating income. The outlook isn’t stellar either, as Moody’s projects the sales decline for department stores to continue into continue in 2017. It looks like more bad news for the U.S.

Origination 46

Origination Returns Continuity Research 46

FICO

AUGUST 1, 2018

Using a nationally representative sample of FICO scorable consumers as of October 2017, we compared homeownership rates (using presence of an open mortgage loan as a proxy) across Millennial consumers age 25 to 34. Key Findings: Consumers with closed student loans are more likely to begin their homeownership journey.

Research 60

Research Credit Risk Consumer Risk 60

The Payments Association

OCTOBER 18, 2024

Tap to Pay on iPhone in the Tide app comes as research by Tide 1 shows that 1 in 4 SME owners, employees and side hustlers want to offer greater payment options to their customers, with high data security, ease of use and low transaction fees cited as the top priorities. 1 *Research conducted by Tide in Jan 2023.

Small Business 88

Small Business Contactless Payments Business Payments Payments 88

PYMNTS

NOVEMBER 16, 2020

Consumers have cut back on travel, in-person entertainment and restaurant spend. Then they will use this newfound spending power to bring a new, vengeful spending strategy to the holiday season because, after all, the American consumer deserves a few gifts after all that they’ve been through this year. Here’s the scenario.

Credit Cards 121

Credit Cards Online and Mobile Banking Consumer Research 121

PYMNTS

JUNE 19, 2018

Convenience, price and food quality are the QSR’s main selling points, but what drives consumers to visit one particular QSR over another? The average Restaurant Readiness Index score in Q4 2017 was only 38.7 Twenty-six percent of surveyed consumers in Q4 of 2017 said the most important reason they prefer their merchant was delivery.

Consumer 46

Consumer Debit Card Research Consulting 46

The Paypers

JANUARY 9, 2017

(The Paypers) The number of consumers who purchase online is expected to cross 100 million by end of 2017, with e-retail market likely to jump 65% year on year in 2018, a recent research study reveals.

Consumer 28

Consumer Research 28

PYMNTS

AUGUST 11, 2017

Sure, there are high-end quality items and experiences, but consumer behavior in this space has seen a shift over the past few years. Following the 2008 recession, most consumers expectedly shied away from making purchases on ultra fancy or expensive items in favor of keeping their financial heads above water.

Consumer 49

Consumer Research Consulting Returns 49

Finovate

NOVEMBER 19, 2024

The California-based company has offered paper-based and recycled products since 2017, and made a pledge in 2022 to convert most of its own original card products to digital or paper. ” BHN reports that paper-based cards still offer convenience and reliability while posing minimal disruption to consumers, retailers, and issuers.

Visa 52

Visa Product Issuers Card Issuer 52

PYMNTS

MARCH 18, 2019

Thasunda Duckett, chief executive of Chase Consumer Banking, told the news service she “hopes the new accounts will attract more low-income individuals and people who have never had bank accounts.” In 2017, 6.5 That research also identified a group of people unlikely to sign up for offerings such as the one just launched by Chase.

Consumer 70

Consumer Online and Mobile Banking FDIC Checks 70

FICO

JULY 10, 2017

FICO regularly tracks the national FICO Score distribution as an important gauge of US consumer credit behavior. US consumers continued to show improvement in managing their debts, which began shortly after the bottoming out of the economy in 2009-2010. of the population in October 2013 to 16.5% in April of this year.

Consumer 75

Consumer Continuity Credit Limit Underwriting 75

PYMNTS

MAY 1, 2017

Tencent, whose mobile chat and social commerce app Wechat sees over 889 million active users, has decided to open up shop in Seattle — and by shop, we mean an AI research center run by former Microsoft principal researcher Yu Dong, said The Information. Tencent included. billion in revenue from payments last year.

Research 43

Research AI Mobile Payments Digital Payments 43

PYMNTS

DECEMBER 20, 2016

It is a one-to-one conversation providing research (product recommendations, prices, promotions, availability, etc.) But specifically looking at retail chatbots, what will they look like in 2017? 2017 will be the year of the bot,” said David Horton, managing director, innovation at Synechron. But 2018 may not be the year either.

Bots 51

Bots Transactions Innovation Technology 51

PYMNTS

JULY 17, 2019

The Consumer Financial Protection Bureau (CFPB) is urging financial institutions to report any suspicions they may have about financial exploitation of elderly people, the organization said in a release. . The report was based on a query of 180,000 EFE SARs which were filed from 2013 to 2017. .

Suspicious Activity Report (SAR) 45

Suspicious Activity Report (SAR) Consumer Financial Protection Bureau (CFPB) SARS CFPB 45

PYMNTS

FEBRUARY 3, 2020

“Jobs to be done” – a theory popularized by the late Harvard Business School Professor Clayton Christensen – is the notion that consumers don’t buy products , but they hire them to perform a task they need done. Consumers are firing brick-and-mortar retailers from the jobs they held years and decades before. But it’s more than that.

Consumer 69

Consumer Returns Rules Product 69

PYMNTS

DECEMBER 24, 2019

About 31 percent of consumers now own voice-activated devices, up from 27 percent in 2018 and 14 percent in 2017. The rise of voice is the big factor behind the rise of smart homes, where consumers are doing more commerce and payments. That’s not all — voice is becoming more emotionally attuned to consumers.

Consumer 64

Consumer Zelle P2P Real Time Payments 64

PYMNTS

JUNE 29, 2017

Though the amount of online retailers is astounding, many consumers still prefer to shop in-store. With in-store shopping waning, some retailers are adding a new option to the purchasing mix with a direct-to-consumer offering. Whether it’s Nike or Warby Parker, the direct-to-consumer market is seeing tremendous profits.

Consumer 43

Consumer On-Demand Research Product 43

PYMNTS

MAY 4, 2018

That maximum rate applies to most consumer loans, with some exceptions. Its parent company, Enova International, reportedly spent more than $100 million in 2017 for marketing. One loan for $2,120, which was detailed in an exhibit, required a borrower to pay back $6,130 over 22 months — an interest rate of nearly 150 percent.

Consumer 43

Consumer Federal Reserve Caps Laws 43

PYMNTS

AUGUST 16, 2018

Approximately 48 percent of American consumers expect their online orders to be delivered faster in 2018 than they did in 2016, according to the PYMNTS Omni Usage Report. Retailers are quick to adapt to new consumer expectations, whether they offer faster shipping or an upgraded program offering. to receive them within the hour.

Consumer 42

Consumer Data Breach Breach Advisors 42

The Paypers

DECEMBER 23, 2016

(The Paypers) US retailers will enter in 2017 with more brcik-and-mortars than required, mainly because consumers are continuously shifting to online purchases, a recent research study reveals.

Research 28

Research Continuity Consumer 28

PYMNTS

JULY 14, 2017

While it was trying to perhaps poke fun at this older segment of the population, research shows that seniors are actually making purchases online. This seems like a group of consumers that’s too large for retailers to ignore. One way to help ease consumers standing in those lines, at least according to this research, is to play music.

Consumer 43

Consumer Federal Reserve Scams Research 43

CB Insights

OCTOBER 3, 2018

This helps jewelry retailers more reliably market their products to an increasingly socially-conscious consumer base. In August 2017, ten of the world’s biggest CPG and food companies partnered with IBM to integrate blockchain into their supply chains via the Food Trust, discussed above. IBM partners with CPG & food brands.

Blockchain 56

Blockchain Consumer Verification Product 56

PYMNTS

MAY 18, 2018

The rate of credit card delinquencies jumped 52 basis points (BPS) in the first quarter (Q1) of 2018, and will likely continue to increase over the next 12 months as consumers take on more debt. Moody’s said it expects credit card charge-offs to total around 4 percent for 2018, an increase of about 30 to 40 BPS from 2017.

Consumer 48

Consumer Federal Reserve Credit Cards Underwriting 48

CB Insights

OCTOBER 26, 2017

In this analysis, we examine current research on brain-machine interfaces, the next hurdles to achieving AI-augmented brains, and existing and potential applications for this mind-altering technology, from gaming and education training to behavior modification. ” –IBM research study . Connected cortexes of the future.

Research 58

Research AI CHIPS Assessments 58

PYMNTS

AUGUST 4, 2017

As such, several companies over the years have popped up to help businesses, as well as consumers, secure valuable information at the base level. Consumers should probably go ahead and assume that at one point or another their personal details will likely be breached by an online hacker.

Posting 44

Posting Consumer Data Breach Third Party Vendors 44

PYMNTS

APRIL 10, 2019

When it comes to digital payments and commerce, it’s hard to argue with China’s leading and influential position, especially in terms of ecosystems based around consumers’ mobile devices. The report added in 2018, the numbers of consumers taking part in the country’s sharing economy increased 7.1 percent compared with 2017.

Economy 49

Economy Consumer Product Checks 49

PYMNTS

AUGUST 1, 2017

To say direct-to-consumer retail practices have had an impact on the manufacturing industry would be an understatement. With eCommerce a major proponent of the direct-to-consumer (DTC) channel and showing no signs of slowing down, the retail industry landscape has been forever changed. billion in 2015 and up to $16 billion by 2020.

Consumer 48

Consumer On-Demand Technology Research 48

PYMNTS

JUNE 26, 2018

CaliBurger , for example, tested an artificial intelligence (AI)-powered facial recognition system in 2017 that identifies customers at self-ordering kiosks and brings up their profiles, which includes information such as past orders and menu favorites. consumers use chatbots on a daily basis, according to 3Cinteractive Corp.’s

Consumer 42

Consumer Bots Checks Technology 42

FICO

FEBRUARY 9, 2021

According to new research from FICO (and in contradiction of the beginning of basically every fintech startup’s pitch deck) Americans are generally very satisfied with their banks. In a recent consumer survey, 86% of U.S. consumers said that they are satisfied or very satisfied with their current bank. by Anna Hamilton.

Non-Bank 52

Non-Bank Research Addressing Credit Cards 52

PYMNTS

DECEMBER 24, 2018

But in hopes of hopping on the holiday bandwagon — and providing data-backed insight in the hottest payment trends for 2019 — allow us to offer this list of a dozen ways that consumers (and some businesses) are paying now, methods that promise to play big roles in 2019. So, how will consumers (and some businesses) pay? #1:

Consumer 83

Consumer Online and Mobile Banking Debit Card Volume 83

PYMNTS

NOVEMBER 26, 2019

lost bank branches between 2012 and 2017, with rural areas feeling the brunt of the closures, according to research from the Federal Reserve released on Monday (Nov. The research shows that loan interest rates go up as the distance increases between local bank branches and businesses. Earlier this month, the U.S.

Federal Reserve 83

Federal Reserve Online and Mobile Banking Small Business Fed 83

FICO

JULY 29, 2021

The last time I attended the Credit Scoring and Credit Control Conference at the University of Edinburgh in August 2017, my colleague Gerald Fahner and I spoke about two ostensibly different topics. This year we will be revisiting and combining some of the same concepts from our earlier sessions. by David Binder.

Best Practices 52

Best Practices Use Case Research Risk 52