Half of consumers say they have cut non-essential spend in the first quarter of the year and consumers are four times more likely to save than spend, according to new research from KPMG UK. KPMG UK’s Consumer Pulse survey tracks the quarterly confidence and spending… Read More
Read more in: Fintech, General News, Global | Tagged consumer spending, research, uk, united kingdom
Data from Ant Group reportedly shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the Covid-19 pandemic, especially in cross-border tourism. Through the Alipay+ cross-border mobile payment technology solutions, Chinese travelers may pay “for goods, food… Read More
Read more in: Fintech, Asia, Global | Tagged alipay, ant group, china, consumer spending
M1, an investing platform that allows users to invest, borrow, spend, and earn in one place, this week released findings from its 2023 holiday shopping and saving survey, gleaned from insights from nearly 700 M1 users. The findings provide a comprehensive look into the significant… Read More
Read more in: Investment Platforms and Marketplaces, General News | Tagged brian barnes, consumer spending, inflation, investing
LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released key findings from the Reality Check: Paycheck-To-Paycheck research series. The Holiday Shopping Deep Dive Edition examines “the financial lifestyles and spending choices of U.S. consumers going into the 2023 holiday… Read More
Read more in: Fintech, General News | Tagged consumer spending, lendingclub, survey, united states, us
Americans are shopping earlier than ever before and leveraging flexible payments to manage their expenses during the holiday season according to newly released research from leading financial services company Zip Co (ASX: ZIP). The survey of more than 3,000 U.S. adults revealed “that 57% of… Read More
Read more in: Fintech | Tagged bnpl, buy now pay later, consumer behavior, consumer spending, financial services, fintech adoption, fintech trends, flexible payments, larry diamond, research, united states, us, zip
The scale of Christmas / holiday spending cutbacks due to the cost of living is highlighted in new research from KPMG UK – which shows consumer intention “to cut back on buying gifts, groceries and socializing.” Over 2600 UK consumers were surveyed for KPMG –… Read More
Read more in: Fintech, General News, Global | Tagged consumer behavior, consumer spending, cost of living crisis, europe, kpmg, kpmg uk, research, spending, spending patterns, survey, uk, united kingdom
A spending downturn in the retail and e-commerce sector drove a $2.9 billion YoY nation-wide drop in online spending, according to the Q3 Digital Economy Index from global financial platform Airwallex. The quarterly Airwallex Digital Economy Index “records year-on-year and quarter-on-quarter snapshots of the digital… Read More
Read more in: Global, Fintech | Tagged airwallex, consumer spending, digital commerce, Digital Economy, e-commerce, financial services, fintech adoption, fintech trends, online spending, research, Research Report
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
Read more in: Fintech, Featured Headlines | Tagged bnpl, buy now pay later, consumer spending, fintech adoption, fintech trends, flexible payments, interview, payment networks, product development, united states, us
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
Read more in: Fintech, General News | Tagged consumer spending, credit cards, financial services, research, Research Report, united states, update, us
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
Read more in: General News, Fintech | Tagged consumer behavior, Consumer Preferences, consumer spending, digital commerce, digital technology, digital transactions, digitalization, e-commerce, mastercard, mastercard spendingpulse, sales, spending, steve sadove, united states, us
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
Read more in: Blockchain & Digital Assets, Fintech | Tagged billy roberts, consumer spending, financial services, fintech adoption, fintech trends, payments, programmable payments, spending, visa, wedge
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
Read more in: Asia, Fintech | Tagged alipay, ant group, china, consumer spending, mainland china, research, Research Report
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
Read more in: Asia, Fintech | Tagged cashless payments, consumer spending, credit, globaldata, hong kong, Payment Cards, payments, Ravi Sharma, research, Research Report
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
Read more in: Fintech, Global | Tagged bnpl, consumer spending, credit cards, financial management, financial services, fintech adoption, fintech apps, fintech trends, klarna, spending, united states, us
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
Read more in: Fintech, General News | Tagged consumer behavior, consumer spending, dailypay, inflation, research, survey, the harris poll
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
Read more in: Fintech | Tagged consumer behavior, consumer spending, holiday season, mastercard, mastercard spendingpulsetm, michelle meyer, Research Report, retail sales, steve sadove, united states, us
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
Read more in: Canada, Fintech | Tagged canada, consumer behavior, consumer spending, mastercard, mastercard spendingpulsetm, north america, research, Research Report, retail sales, steve sadove
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
Read more in: Fintech | Tagged consumer spending, financial services, fintech apps, greg lisiewski, paypal, paypal holdings, rewards program
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
Read more in: Fintech, Global | Tagged afterpay, bnpl, buy now pay later, consumer spending, holiday season, pay later, pay over time, payments, shopping
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
Read more in: Fintech, Global | Tagged consumer behavior, consumer spending, holiday season, mastercard, mastercard spendingpulse, michelle meyer, report, spending patterns, steve sadove, united states, us
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