5 security threats to watch in 2019
Payments Source
JANUARY 2, 2019
As consumers grow more attached to mobile devices for e-commerce and payments, fraudsters are intensifying their focus on handsets with new phishing, vishing to SIM-swap tricks.
Inside The Mind Of The Digital-First Consumer
PYMNTS
JANUARY 1, 2021
The consumers who shopped for anything from groceries to sporting goods to cars in December of 2019 are completely different from the ones who shop today. Office shifters plan to use digital shopping options more than other consumers after the pandemic has passed,” the report noted. How She Thinks About Vaccines.
Consumer 
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What We Say Is How We Pay – For 23M Consumers, And Growing
PYMNTS
OCTOBER 13, 2020
“Approximately twice as many consumers shopped for retail products from home in the summer of 2020 as they did in the summer of 2019, and three times as many grocery-shopped from home this summer over last summer, too,” the Report states, giving an idea of scope. Creation of the ‘Superconnected’ Consumer.
Consumer 119
119 
IRS Launches Consumer Portal For Getting Stimulus Checks
PYMNTS
APRIL 10, 2020
citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site. The IRS said that the majority of people who filed taxes for 2018 or 2019 will automatically get Economic Impact Payments starting next week.
IRS 145
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US Consumers Pay Down $10B In Credit Card Debt In Q3
PYMNTS
NOVEMBER 18, 2020
According to the Fed’s latest quarterly report on household debt and credit, overall consumer debt hit $14.35 August was the six month in a row that saw a drop in consumer credit card balances, the lowest level since 2017. percent in 2019. percent in 2019. trillion, up $87 billion, a 0.6 percent increase over Q2.
Credit Cards 124
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US Consumers' FICO Score Hits Highest Since 2005
PYMNTS
OCTOBER 18, 2020
The COVID-19 pandemic has produced one ray of sunshine amid otherwise devastatingly dark clouds: Consumer credit scores have improved in recent months to the point of hitting a new record high, the Wall Street Journal reported Sunday (Oct. score in July, according to the Journal, was 711 — up from 708 in April 2020 and 706 in July 2019.
Consumer 103
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REPORT: Connected At Home: The Devices That Got Consumers Through 2020
PYMNTS
DECEMBER 14, 2020
Consumers’ daily lives look very different now than they did just one year ago. Consumers across the nation have instead hunkered down at home, working, socializing, shopping and paying online. Our research shows that just 20 percent of consumers own eReaders in 2020, for example, down from 23 percent in 2019 and 26 percent in 2018.
Consumer 111
111 
Digital-First Economy Redefines Retail And Consumer Behavior
PYMNTS
DECEMBER 24, 2020
PYMNTS research on consumer shopping habits showed that 24 percent of all consumers say they have taken at least one of their routine shopping activities online and do not plan to revert to shopping in stores for this activity, even after the pandemic is over. More consumers are going online to shop and pay as the pandemic progresses.
Economy 118
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Bank’s Margins Suffer As US Consumers Pay Down Credit Card Debt
PYMNTS
NOVEMBER 15, 2020
consumers have been paying down payments on credit cards with the pandemic continuing to hamper spending opportunities, which has led to dramatically falling bank card loans, The Financial Times (FT) reports. According to the report, the total amount of card loans in U.S. Revolving debt was down $9.4
Credit Cards 120
120 
Visa Reveals Digital Products to be Launched Over the Year Catering to Evolving Consumer Demands
The Fintech Times
MAY 17, 2024
Consumer payment preferences are constantly evolving, meaning firms need to adapt to cater to these needs. At the Visa Payments Forum in San Francisco, Visa has unveiled new products which will address the evolving consumer payments demands. We’re announcing the next generation of truly digital-native payment card experiences.
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How Consumers Forced Big Merchants To Up Their Digital-First Game
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
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Covid-era contactless payment limit rises drove consumer usage but not adoption, research finds
NFCW
JANUARY 16, 2024
The Swiss central bank’s researchers based their analysis on anonymized, transaction-level data for a large sample of point-of-sale debit card payments made in Switzerland between 2019 and 2021. “In Switzerland – the country we study – the tap-and-go limit was doubled from CHF40 to CHF80 in April 2020.
Are Starbucks and Uber the right experience for banks?
Payments Dive
OCTOBER 1, 2019
The changing nature of consumers in recent years is raising major questions regarding privacy, loyalty and perceived value in the banking industry, according to a panel of experts at the 2019 Bank Customer Experience Summit.
Privacy 139
139 
Skip It: Amazon, Walmart Tell Consumers To Keep Unwanted Gifts
PYMNTS
JANUARY 11, 2021
The number of eCommerce packages returned soared 70 percent compared to 2019, and because of the pandemic, many customers didn't want to take the items to physical stores, WSJ reported. The option is also determined on a case-by-case basis, depending on the individual customer's purchase history and the cost of processing the return.
Returns 112
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Can Low Credit Card Balances Save Holiday Spending? Don’t Bet On It
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
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Payments in 2021: What's coming, what's going, and what's poised for a comeback?
Payments Source
JANUARY 17, 2021
The question is not whether things will magically return to the 2019 status quo. The question is: Where is there still pent-up demand among consumers and merchants?
Returns 122
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E-Wallets Rise as Leading Payment Method in Southeast Asia
Fintech News
OCTOBER 21, 2024
Initiatives like QRIS (Quick Response Code Indonesian Standard), a national standard for QR code payments launched in 2019, have allowed for standardization, making it easier for businesses and consumers, while collaboration between the government and fintech firms have helped enhance financial inclusion through clear regulations.
CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations
PYMNTS
DECEMBER 23, 2020
Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. During that time frame, Santander reportedly sent incorrect information on millions of accounts to the CRAs. Aside from the $4.75
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NEW DATA: Black Friday 2020: COVID-19 Steepens Physical Retail’s Long Slide
PYMNTS
NOVEMBER 30, 2020
The divide between digital and brick-and-mortar commerce hit a tipping point this holiday season, with more consumers than ever going online to kick off their holiday shopping sprees. consumers on Nov. The COVID-19 pandemic accelerated consumers’ shift to digital-first commerce. We surveyed a census-balanced panel of 2,147 U.S.
Debit Card 128
128 
Average U.S. FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises
FICO
AUGUST 29, 2022
FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises. Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. consumer reporting agencies (CRAs). Average U.S. by Ethan Dornhelm. expand_less Back To Top.
Consumer 98
98 
Millennials Will Lead The Voice Commerce Revolution
PYMNTS
OCTOBER 19, 2020
Consumers across all age demographics have radically realigned their lives over the last eight months. Still, the 2020 edition of the PYMNTS | Visa How We Will Pay consumer survey of a national sample of roughly 10,000 U.S. consumers confirmes that consumers, in fact, have changed. The New Connected Consumers .
Consumer 132
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Western Union Expands Real-Time Digital Payments To 100 Countries
PYMNTS
NOVEMBER 23, 2020
Western Union first unveiled the goal of expanding digital payments to 100 countries during its investor day event in 2019. With consumers increasingly turning to online ways of doing things amid the pandemic, Western Union saw its digital revenue jump 45 percent in the third quarter compared to the same period a year ago.
Digital Payments 144
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NEW DATA: How We Will Pay 2020: With Connected Devices, At Home And During The Week
PYMNTS
OCTOBER 13, 2020
Thirty-seven percent more consumers in the United States are working their full-time jobs from home than in 2019, whereas 27 percent more are performing gig jobs remotely. In essence, connected devices are helping turn consumers’ homes into smart, commerce command centers. The world has changed a great deal since 2020 began.
ATM 104
104 
JPMorgan Forecasts Record Online Holiday Shopping Season
PYMNTS
DECEMBER 4, 2020
The bank also processed record-breaking online and mobile payment transactions on Cyber Monday, up nearly 25 percent over 2019. with 2019 transaction volume exceeding $1.5 That helped offset a 12 percent drop in payment authorizations at physical stores as people continue to largely lock down amid the coronavirus pandemic. “As
Banking On A Rough Earnings Season For Banks
PYMNTS
APRIL 13, 2020
and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. consumer, where spending was strong across cards, where auto loans remained resilient. Overall, consumers made 95 million payments worth $23.8 billion using Zelle.
Visa Unveils 2025 Payment Trends, Shaping Vietnam’s Digital Landscape
Fintech Finance
DECEMBER 17, 2024
The Digital Future Forum highlighted the evolving preferences and behaviors of Vietnamese consumers. Increasingly drawn to international travel, luxury purchases, and digital transactions, Vietnamese consumers are part of a strong trend towards experiential consumption.
Movers and Shakers: Wells Fargo appoints two new tech leaders
Bank Automation
AUGUST 27, 2024
San Francisco-based Wells Fargo appointed Tracy Kerrins as head of consumer technology and leader of the bank’s new generative AI team, according to a July 30 release. Kerrins, who joined Wells Fargo in 2019, has been CIO for consumer technology and enterprise functions technology.
AI 80
80 
Google Faces Lawsuit From Multiple States Over Digital Ad Tactics
PYMNTS
DECEMBER 16, 2020
A new lawsuit from multiple states alleges that Google used its digital advertising business to harm consumers, The Wall Street Journal (WSJ) reported. This internet Goliath used its power to manipulate the market, destroy competition, and harm YOU, the consumer,” Paxton's office said in a tweet Wednesday (Dec. 16), according to WSJ.
India’s Digital Payments Platform Hits $1.34B In June Transaction Volumes
PYMNTS
JULY 26, 2020
Asbe told the FT that UPI’s strength was its appeal across India’s fragmented economy, which ranges from poorer communities to wealthy consumers. S&P’s analysis revealed that Indian mobile payment transactions grew 163 percent to $287 billion in 2019. The country has diverse needs.
Volume 123
123 
Five Takeaways From Mastercard’s Holiday Spend Data
PYMNTS
DECEMBER 28, 2020
After all, consumers were pushed onto digital platforms early in the season and then pushed again as the pandemic surged even as they risked post-holiday package arrival. Some predictions pre-holiday ranged as high as a 5 percent increase over 2019; some called for flat spending. percent in 2019. percent unemployment rate.
Visa 104
104 
Three Digital Shifts On Their Way To Becoming Permanent Changes
PYMNTS
DECEMBER 14, 2020
When COVID-19 is gone six months or a year from now, what will consumers be like? The past eight months of data that PYMNTS has collected from consumers tell a pretty clear story on that point. The past eight months of data that PYMNTS has collected from consumers tell a pretty clear story on that point. consumer habits.
Consumer 103
103 
Apparel Sales Get Dressed Down For Holiday; Experts Predict Rebound
PYMNTS
DECEMBER 30, 2020
Consumers are staying at home and as a result paying a lot less attention to their personal style. Consumers did their fair share of shopping this season — home furnishings, home decoration, and home improvement products all had a banner season as consumers set about more perfectly feathering their nests.
Consumer 113
113 
The Year In Data: Measuring 2020’s Payments Innovation
PYMNTS
DECEMBER 31, 2020
How We Will Pay: Home As The Consumer Command Center. This study showed that the home had become the consumer’s commerce command center as they changed their daily routines to do more of their work and more of their once-physical errands from home. percent of disbursements that are made to consumers and microbusinesses, respectively.
Innovation 111
111 
Five Fast Facts On Fighting Checkout Friction
PYMNTS
JANUARY 8, 2021
But for all the challenges thrown up by 2020, the surge of consumers online has forced merchants to raise the level of their digital checkout game, according to the latest edition of the PYMNTS Checkout Conversion Index. Transparency Is Key When Completing A Consumer Conversation . The year 2020 saw the overall index score rise by 2.2
On-Demand 104
104 
Amazon Delivers Record-Breaking 1.5 Billion Holiday 2020 Packages
PYMNTS
DECEMBER 29, 2020
Amazonians around the world have truly shown what it means to be customer-centric and support our communities this year,” Jeff Wilke , CEO of worldwide consumer at Amazon, said in a press release on Tuesday (Dec. Amazon is reporting a record-breaking holiday shopping season that saw more than 1.5 times the amount of meditation.
Posting 130
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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business
Stax
JULY 9, 2024
In 2019, 77% of US consumers were using at least one type of digital payment system. What has grown more significantly is the number of electronic payments and alternative payment methods consumers now use. Consumers benefit from immediate confirmation of transactions, reducing the hassle of carrying cash or waiting for change.
Digital Payments 163
163 
Burger Intelligence: Shake Shack AI Takes Ordering, Customer Experience To The Next Level
PYMNTS
DECEMBER 21, 2020
It recently opened its first digital-only location after reporting that its digital sales grew by 203 percent in Q3 compared to the same period in 2019. Digital revenues represented 49 percent of the chain’s total sales during the same quarter, revealing that consumers are clearly seeking digital access to restaurants in record numbers.
AI 120
120 
Here Are The Top 7 Fastest Growing Fintechs in Singapore
Fintech News
JANUARY 24, 2024
The criterion for inclusion was stringent: fintech startups had to exhibit a substantial revenue increase from a minimum of S$150,000 in 2019 to at least S$1.5 With S$1,198,972 in 2019 revenue rising to S$3,377,749 in 2022, Spark Systems experienced a 41% CAGR over the period. million by 2022.
FinTech 107
107 
MoneyGram Teams With Visa Direct, Checkout.com To Advance P2P Payments
PYMNTS
JANUARY 22, 2021
Consumer demand for real-time payments direct to bank accounts and mobile wallets continues to surge.”. In 2019, MoneyGram was the first company in the industry to enable cross-border transfers from the U.S. MoneyGram customers can send money in near-real-time to Visa debit cardholders across 575 corridors from 25 countries in Europe.
P2P 107
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Deep Dive: Why ML Plays A Key Role In Debit Issuers' Fraud-Fighting Strategies
PYMNTS
DECEMBER 31, 2020
Being too restrictive can result in a slew of false positives, however, irritating consumers whose cards are declined and frustrating merchants as would-be customers abandon their carts. Addressing security concerns is no trivial pursuit for debit issuers, as they incurred more than $1 billion in net fraud losses in 2019. 3D Secure 2.0
Issuers 109
109 
Google Quits Cookies As Data Privacy Regs Show Fangs
PYMNTS
FEBRUARY 5, 2020
As we know, mostly anonymous corporations have been collecting consumer data online for years, usually without explicit permission, selling it or using it for ad retargeting and personalization. Then, there are the huge data breaches that just keep happening, increasingly to companies with high levels of consumer trust.
Privacy 115
115 
Disbursements By Voice Are Growing In Popularity – And Other Instant Disbursements Trends
PYMNTS
OCTOBER 1, 2020
Consumers and microbusinesses now get an average of two disbursements each year, excluding tax disbursements from local, state and federal governments. More than two-thirds of consumers (68.1 Among consumers, instant payments accounted for a little more than one in 10 of those disbursements (14 percent). percent in 2019 and 9.5
Instant Payments 122
122 
Amazon Expands Key In-Garage Delivery To 4K US Cities; Moves To Include Food Delivery
PYMNTS
NOVEMBER 12, 2020
Amazon launched its Key In-Garage Delivery service in early 2019 in an effort to thwart package theft by so-called “porch pirates.”. A PYMNTS study of a census-balanced sample of 2,165 consumers conducted Oct. consumers reported having a Walmart+ membership, just a bit more than a month after its launch.
NOV 105
105 
Deep Dive: How Subscription Services Retain Customers By Hitting Pause
PYMNTS
SEPTEMBER 18, 2020
Government-mandated social distancing and stay-at-home orders have slowed in-person retail sales in many regions and mass layoffs have hindered consumers’ purchasing power. million subscription customers for streaming, education and training, digital media or consumer retail services, of whom 27.4 There are currently 167.1
Consumer 103
103 
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