Tagged: consumer spending

September 27, 2023 @ 4:49 pm By Omar Faridi  |  

We recently sat down with Vishal Kapoor, Head of Product at Affirm (NASDAQ: AFRM), a payment network that helps millions of consumers spend and save “responsibly” and empowers hundreds of thousands of businesses with the tools to fuel growth. In his role, Vishal leads the… Read More

September 11, 2023 @ 3:01 pm By Omar Faridi  |  

Although the US Federal Reserve has been increasing interest rates, lenders have also been increasing consumers’ access to credit. Along with opening up a “record” $89 billion in new credit card accounts during the year’s first quarter, banking institutions also boosted spending limits on 18.4… Read More

April 11, 2023 @ 8:07 am By Omar Faridi  |  

According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. retail sales excluding automotive “were up +4.7% year-over-year (YOY) in March.” Mastercard SpendingPulse reportedly “reflects nominal spending and is not adjusted for inflation.” At a national level, while… Read More

February 19, 2023 @ 1:30 pm By Omar Faridi  |  

Wedge Financial, Inc., a fintech company that brings the power of the markets and programmable payments to everyday spending, is partnering with Visa (NYSE: V) in order to launch a debit card “connected to the Wedge app, accelerating its mission to revolutionize consumer spending.” Wedge… Read More

January 31, 2023 @ 10:27 am By Omar Faridi  |  

As this year’s week-long Chinese New Year holiday comes to an end, Ant Group would like to share some observations on Chinese consumers’ spring festival spending and trends. These findings “provide a snapshot of recovering consumption in China’s domestic market and outbound tourism market.” Main… Read More

January 29, 2023 @ 6:32 pm By Omar Faridi  |  

The Hong Kong credit and charge card payments market is set “to grow at a compound annual growth rate (CAGR) of 3.9% between 2022–2026 to reach HKD 831.9 billion ($106.7 billion) in 2026, driven by a significant shift in consumer preferences towards non-cash payment methods… Read More

January 26, 2023 @ 8:16 am By Omar Faridi  |  

Klarna, which claims to be the global leader in the generational shift away from credit cards,  announced the launch of Money Story in the US Klarna App – “a personal spending summary of 2022 that provides millions of consumers with useful insights into their spending… Read More

January 15, 2023 @ 7:57 pm By Omar Faridi  |  

Despite continued inflation and the potential of a recession, 67% of Americans plan to spend either the same or more in 2023 as they did in 2022 “on retail purchases” according to a new survey commissioned by DailyPay and Dollar Tree and conducted online by… Read More

December 31, 2022 @ 7:00 pm By Omar Faridi  |  

According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive “increased 7.6% year-over-year this holiday season, running from November 1 through December 24.” Mastercard SpendingPulse “measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.” Steve Sadove, senior advisor… Read More

December 22, 2022 @ 5:16 pm By Omar Faridi  |  

According to Mastercard (NASDAQ: MQ) SpendingPulseTM, which measures in-store and online retail sales across all forms of payment, Canadian retail sales, “excluding automotive, increased +3.8% YOY, (+15.6% YO3Y) in November.” While E-commerce sales were :down this month -3% YOY, growth remains strong since pre-pandemic at… Read More

October 20, 2022 @ 5:05 pm By Omar Faridi  |  

PayPal Holdings, Inc. (NASDAQ: PYPL) announced the introduction of PayPal Rewards, a new unified rewards program that gives customers “an easy way to shop, earn, track, save, and redeem rewards and offers all in one place – their PayPal app.” PayPal Rewards “connects PayPal’s merchant… Read More

October 7, 2022 @ 8:11 pm By Omar Faridi  |  

Afterpay (ASX:APT), which claims to be a leader in “Buy Now, Pay Later” (BNPL) payments, introduced a new payment solution that gives consumers even more choice, flexibility and time “to pay, with transparent terms to support responsible spending – just in time for the busy… Read More

September 18, 2022 @ 9:37 pm By Omar Faridi  |  

This holiday season, U.S. retail sales excluding automotive are “expected to increase 7.1% year over year,” according to the Mastercard SpendingPulse annual holiday forecast. Mastercard SpendingPulse “measures in-store and online retail sales across all forms of payment.” It is “not adjusted for inflation.” The holiday… Read More

September 3, 2022 @ 11:40 am By Omar Faridi  |  

The economy is facing massive disruptions: inflation, great resignation, and possible recession, among others. This has driven customers to switch financial institutions at a click of a button, looking for the ones that provide them the most benefits and help with their financial health. However,… Read More

August 29, 2022 @ 1:37 pm By Omar Faridi  |  

Buy Now, Pay Later (BNPL) plans have taken over as a “popular” financing option for consumers, partly due to “an increase in online shopping demands during the pandemic,” the TrueAccord team notes in a blog post. In 2021, Americans “spent more than $20 billion through… Read More

April 19, 2022 @ 9:49 pm By Omar Faridi  |  

Buy Now, Pay Later (BNPL) is gaining prominence and emerging “as an alternative credit tool for consumers in Australia, with tech-savvy millennials especially using the service,” according to a report from GlobalData, a data and analytics firm. BNPL offers clients with the flexibility or option… Read More

December 9, 2021 @ 7:48 am By Omar Faridi  |  

Klarna, an international retail bank, payments, and shopping service, has announced the launch of the Klarna browser extension, which had been in “beta testing with over 100,000 consumers.” The extension enables consumers to “shop with Klarna’s flexible payment options on their desktop at every online… Read More

November 30, 2021 @ 9:53 pm By Omar Faridi  |  

Slice, a Fintech platform that provides card-based products to younger Indian consumers to help them build a solid credit score, has secured $220 million in capital via a Series B round that values the business at more than $1 billion. Slice‘s investment round has been… Read More

November 29, 2021 @ 10:32 pm By Omar Faridi  |  

Affirm (NASDAQ: AFRM) notes that with supply chain blockages leading to new challenges every day, you might be facing difficult decisions regarding increasing prices while preserving margins. Although significantly higher prices might discourage customers just as the holiday shopping season arrives, you could soften the overall… Read More

November 23, 2021 @ 8:06 am By Omar Faridi  |  

One in every two UK residents is reportedly looking to give up their credit card completely for  Christmas shopping in 2021, with two-thirds or 66% of credit card holders saying they want to avoid having to pay excessive credit card interest. Even though credit cards… Read More