OnePay, a consumer fintech, and Synchrony (NYSE: SYF), a consumer financial services company, announced a partnership to power a credit card program with Walmart (NYSE: WMT). The credit card program is expected to launch this fall, “with the experience embedded inside the OnePay app and… Read More
Read more in: Global, Fintech | Tagged consumer fintech, credit cards, onepay, synchrony, walmart
A new consumer credit behavior study released by i2c breaks down generational activity while providing direction for service providers. The study asked the following questions: How many cards do consumers have, and how much of their primary card’s credit are they using? What do consumers… Read More
Read more in: Fintech | Tagged consumer behavior, credit cards, Generation X, generation z, i2c, millennials
CIBC announced its “no annual fee” CIBC Adapta Mastercard, which is reportedly the first credit card in Canada that automatically “determines the cardholder’s top three spend categories each month based on where they spend the most, and rewards them with 50% more points on those… Read More
Read more in: Fintech, Canada | Tagged canada, cibc, consumer behavior, credit cards, mastercard, product update, spending
Kaspersky Digital Footprint Intelligence estimates that 2.3 million bank cards were leaked on the dark web, based on an “analysis of data-stealing malware log files from 2023-2024.” On average, every 14th infostealer infection results in stolen credit card information, with nearly “26 million devices compromised… Read More
Read more in: Global | Tagged credit cards, cybersecurity, malware, research
Price Controls Rarely Work. The Free Market is a Better Option. There have been multiple proclamations from various policymakers regarding the need to cap credit card rates. Unfortunately, forcing credit card issuers to cap interest rates charged to users will accomplish little good while harming… Read More
Read more in: Opinion, Featured Headlines, Politics, Legal & Regulation | Tagged credit cards, payments, perspective
US credit card defaults have reportedly surged to $46 billion in the first 9 months of 2024, which is said to be the highest since 2010. Credit card defaults are now up more than 50% year-over-year. And defaults of seriously delinquent credit card loan balances… Read More
Read more in: Global, General News | Tagged consumer behavior, credit cards, defaults, research, us
The following was provided by J.D. Power: As we approach the end of the year, the major storylines that have developed in the credit card industry are creating ripple effects through the entire financial landscape. Even as inflation has dropped to its lowest level since February… Read More
Read more in: Fintech | Tagged cfpb, credit cards, delinquencies, J.D. Power
The Consumer Financial Protection Bureau (CFPB) announced actions in order to protect consumers from “illegal” credit card practices and help people save money on interest and fees. In a circular to other law enforcement agencies, the CFPB warned that some credit card companies operating rewards… Read More
Read more in: Politics, Legal & Regulation | Tagged cfpb, consumer financial protection bureau, credit cards, enforcement actions, us
While 83% of U.S. small businesses expect more good than bad things to happen for their companies, 51% are categorized as financially unhealthy. Among those who are financially unhealthy, 61% are carrying revolving debt on their business credit cards, and 63% are borrowing with those cards… Read More
Read more in: General News | Tagged credit cards, jd power, john cabell, SMB
The majority of US consumers are drawn to credit cards for their convenience, credit building, or rewards with every “intention” to pay their balance in full every month, according to an update from LendingClub. But “life happens” and nearly half of cardholders end up carrying… Read More
Read more in: Fintech, Global | Tagged credit cards, financial wellbeing, lendingclub, research, united states
Nubank (NYSE: NU), which claims to be one the largest digital banking platforms outside of Asia, announces the expansion of Nu Limite Garantido, which is described as a feature that enables clients to increase their credit card limit. Gradually, the eligible customer base is reportedly being… Read More
Read more in: Fintech, Global | Tagged brazil, credit cards, digital banking, government bonds, latam, nubank
Aven, a technology company offering consumer credit cards backed by home equity, announced a $142 million series D round of funding led by Khosla Ventures and General Catalyst, with participation from existing investors including Caffeinated Capital, Electric Capital, Founders Fund, and The General Partnership. Aven… Read More
Read more in: Fintech | Tagged aven, credit cards, funding, general catalyst, khosla ventures
OneCard, a Fintech company in India, is forging a new path in the Indian credit card market and tapping into the fast-growing segment of tech-savvy individuals who value both design and financial control. As noted in a blog post by Razorpay, OneCard reportedly “manage over… Read More
Read more in: Asia, Fintech | Tagged credit cards, india, onecard, razorpay
The Hong Kong Monetary Authority (HKMA) has released its payment card statistics for the first quarter of 2024, revealing a steady rise in credit card usage and a mixed performance in debit card transactions. As of the end of Q1 2024, the total number of… Read More
Read more in: Asia, Fintech | Tagged credit cards, hkma, hong kong, payment card, payments
Consumers are spending twice as much when they use their credit cards for interest-free installments compared to traditional Buy Now, Pay Later (BNPL) plans, according to new first-party research shared by Splitit (ASX:SPT). The report, Merchants’ Evolving Perspective On the Value of Card-Linked Pay Later… Read More
Read more in: Fintech, Global | Tagged bnpl, buy now pay later, credit cards
Even though credit card fraud is increasing in the United States, a report from security.org said it is still poorly understood. As more people use cards and spend digitally, it opens the door for fraudulent activity; in 2023, an estimated 52 million Americans suffered credit… Read More
Read more in: Fintech | Tagged credit cards, digital finance, digital wallets, fraud, phishing, security.org
The nation’s banking and credit card providers have done a great job establishing best practices for a seamless, efficient digital user experience on their mobile apps and websites, according to an extensive research study. However, with limited differentiation between brands, it’s become “challenging to distinguish… Read More
Read more in: Fintech, General News, Global | Tagged banking, credit cards, research, user experience
CIBC announced it is the first major financial institution to launch a bundled digital credit card and deposit account application for those new to Canada, making it faster and more convenient for these clients to make key banking decisions sooner. Michael Clabby, Executive Vice-President, Head… Read More
Read more in: Canada, Fintech | Tagged banking, canada, cibc, credit cards
Neo Financial announced that the Neo Secured Credit card, along with all Neo credit card products, will now report to Equifax Canada, in addition to its existing reporting to TransUnion, giving Canadians a full credit profile for broader lender acceptance. The Neo Secured Credit card… Read More
Read more in: Fintech, Canada | Tagged canada, credit cards, equifax, neo financial
Credit cards have been a cornerstone of consumer payment methods for decades now, and the demand for consumer cards is only increasing. In fact, 43% of Gen Z and millennial consumers are increasing their spending on credit cards, suggesting that the market is both lucrative… Read More
Read more in: Fintech, Featured Headlines | Tagged Brian Muse-McKenney, credit cards, episode six, fintech trends, interview
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