Tagged: consumer spending

March 20, 2021 @ 3:45 pm By Omar Faridi  |  

Mastercard (NYSE:MA) reveals that February 2021 was yet another huge month for digital commerce, which increased 54.7% year-over-year (YOY). Mastercard pointed out that despite the “inclement weather” felt across many parts of the country this past month, US retail sales (excluding automotive and gasoline) surged… Read More

March 20, 2021 @ 1:57 pm By Omar Faridi  |  

Visa confirms that a year into the Coronavirus pandemic, digital payments continue to “keep money moving.” The company’s latest report reveals that consumer behavior is changing how businesses sell or market their products in a post-COVID environment. Visa notes that due to the COVID outbreak,… Read More

February 19, 2021 @ 5:18 pm By Omar Faridi  |  

A recent SWNS research study has revealed that 40% of US-based consumers under the age of 40 are not optimistic that they’ll be able to succeed in achieving their financial goals. The study of 2,000 Americans (between the ages of 18–40) found that around 58%… Read More

February 7, 2021 @ 7:36 pm By Omar Faridi  |  

Payments platform Adyen (AMS:ADYEN) reveals that Buy Now, Pay Later (BNPL) is the fastest-growing payment alternative in North America. BNPL services are everywhere now, and allow consumers to acquire big ticket items and have made “spontaneous splurges within easy reach.” These digital financial “tools” allow… Read More

February 5, 2021 @ 9:13 pm By Omar Faridi  |  

Limepay, a Buy Now Pay Later (BNPL) provider, says it has gone on a “hiring spree” after securing $21 million in capital, with 7 senior hires according to a release shared with CI. Limepay claims that it’s Australia’s “only” enterprise payments and white-label BNPL and… Read More

February 2, 2021 @ 12:28 pm By Omar Faridi  |  

Banks in Venezuela are reportedly issuing debit cards for US dollar-denominated accounts, according to a report from Reuters which cited sources familiar with the matter. There’s now a group of Venezuelan banking institutions that have been providing debit cards to customers who maintain accounts in… Read More

February 2, 2021 @ 8:01 am By Omar Faridi  |  

Payments platform Adyen (AMS:ADYEN) recently examined the major shifts that are shaping the North American payments space (from the experts at Google Pay, GoFundMe, and Adyen). Adyen noted that in October 2020 they virtually welcomed merchants and payments experts for discussions during the Payments Decoded… Read More

January 31, 2021 @ 7:40 pm By Omar Faridi  |  

Like many aspects of our daily lives in the 21st century, the COVID-19 outbreak is affecting consumers’ spending habits. The Coronavirus crisis may have led to permanent changes in consumer behavior, including the manner in which we acquire the products and services we need. When… Read More

January 23, 2021 @ 7:29 pm By Omar Faridi  |  

The COVID-19 outbreak has led to the increased adoption of contactless payments as one of the preferred ways to settle transactions in the United Kingdom, now representing around 90% or 9 in 10 of all eligible card transfers (as of 2020). The most significant milestone… Read More

January 22, 2021 @ 9:54 pm By Omar Faridi  |  

The team at Venmo, a mobile payment service created by PayPal, notes that their platform began as a social peer-to-peer payments tool for friends and family members to split their meal or share an “unforgettable experience.” The Venmo team confirms that several years ago, they… Read More

January 22, 2021 @ 7:31 am By Omar Faridi  |  

It’s undoubtedly been a very challenging environment for retailers, however, looking ahead to the rest of 2021, UK-based Flux (which itemizes digital receipts that are “delivered straight to your banking app”) says it believes there are some “real” potential opportunities to take take advantage of,… Read More

January 20, 2021 @ 12:44 am By Omar Faridi  |  

Buy Now, Pay Later (BNPL) services are being widely-adopted in Southeast Asia. BNPL service providers allow consumers to pay for products via flexible instalment plans. Major Fintechs offering BNPL options in the Southeast Asian region include Grab, GoJek, Razer, Oriente, among others. BNPL lets people… Read More

January 5, 2021 @ 10:14 pm By Omar Faridi  |  

Agoda, a fast-growing online travel platform, has teamed up with Singapore-based Buy Now, Pay Later (BNPL) platform Atome in order to provide flexible instalment plans for accommodation bookings. These payment options will first be offered in Singapore and Malaysia, and then rolled out to several… Read More

December 21, 2020 @ 9:27 pm By Omar Faridi  |  

Grant Halverson, CEO and MD at McLean Roche Pty Ltd, has noted that Fintech-related risk has increased dramatically this year and has been “aided by ‘free’ central bank money, exuberant VCs, private equity and run away share markets.” Halverson pointed out that Australian Buy Now,… Read More

December 3, 2020 @ 9:20 pm By Omar Faridi  |  

San Francisco-based Digit, a financial management and savings company, recently added an automated investing tool to its app. Digit describes itself as a financial wellness expert that has assisted its customers with automatically saving around $5 billion and paying down more than $150 million in… Read More

November 28, 2020 @ 3:42 pm By Omar Faridi  |  

A new survey from Capco has revealed that consumers must receive proper information and educational materials so that they can responsibly use Buy Now, Pay Later (BNPL) platforms and services. According to the study, BNPL services must also be regulated properly. Capco’s research found that… Read More

November 18, 2020 @ 10:17 pm By Omar Faridi  |  

JPMorgan Chase (NYSE:JPM), the largest bank in the US and sixth-largest in the world in terms of assets, is reportedly planning to enter the rapidly evolving Buy Now, Pay Later (BNPL) market. Chase revealed that it will be offering its credit card customers the option… Read More

October 30, 2020 @ 9:28 am By Omar Faridi  |  

Alliance Data (NYSE: ADS), an established payments, marketing, and loyalty company, has reportedly agreed to a $450 million stock and cash acquisition of Bread, a popular Buy Now, Pay Later (BNPL) firm. According to a release, the transaction is valued at around $450 million, of… Read More

September 27, 2020 @ 4:18 pm By Omar Faridi  |  

Retail spending and activity levels in India have now recovered to around 90% of pre- COVID-19 levels after dropping to around 55-65% of their average back in April 2020. The pace of the adoption of digital services across major channels has accelerated due to the… Read More

September 19, 2020 @ 3:10 pm By Omar Faridi  |  

Visa (NYSE: V), the global leader in digital payments, recently published the results of its survey which aimed to assess the impact of COVID-19 on consumer behavior in Pakistan. Visa’s Stay Secure survey reveals Pakistani consumers’ general views about conducting digital transactions, their preferences and… Read More