The neobank launched the Ultra card, which offers travel, lifestyle, and investment perks. But stiff competition will pose a challenge.
Article
| Jun 20, 2023
To create a record of content history, the standard uses tech similar to the way retailers protect credit card data using SSL encryption. Use this chart:. Illustrate areas where generative AI can improve efficiency and productivity. Make the case for investing in generative AI. More like this:. CEOs expect efficiency, cost savings from generative AI by 2025.
Article
| Jul 18, 2024
Note: Credit card and loan accounts are excluded. Methodology: Estimates are based on the analysis of data from respective bank corporate disclosures, estimates from other research firms, historical trends, GDP trends, and macro-level economic conditions.
Article
| Sep 19, 2023
Combined, Capital One and Discover would be the sixth-largest bank by assets and the largest credit card company by loan volume in the US. Capital One plans to maintain the Discover brand and will switch at least some of its cards to the Discover network, per a call with investors. Discover became a potential acquisition target last year after increased regulatory scrutiny led to a leadership shakeup.
Article
| Feb 21, 2024
The details: The tie-up lets acquirers and merchants access Visa Installments alongside Splitit’s universal credit card acceptance in a single API integration. The pilot will launch in the second half of 2023 in selected markets. Splitit can benefit from Visa’s massive merchant network: Visa is the leading US payment network, making up more than half of all US card network transaction value in 2022.
Article
| May 9, 2023
Transaction history: In-wallet balances and transaction history for stored cards. Credit card rewards optimizers: Rewards options associated with stored cards that are shown to consumers when asked to choose a payment method at checkout. We predicted swift uptake among providers, with all four features being commonplace by the end of 2024.
Article
| Jul 8, 2024
Beyond delivery: DoorDash is exploring business opportunities beyond delivery through services like Package Pickup and its first-ever credit card. The company has also made several upgrades to its ad platform, including self-serve ad products with a consumer packaged goods ads manager, third-party platform partnerships with Pacvue and Flywheel, and API integrations.
Article
| Mar 23, 2023
Users will link their debit cards to the solution. Apple Pay Later will not accept credit cards to help prevent users from taking on more debt to pay back their loans. Why this is a big deal: The long-anticipated Apple Pay Later has strong growth potential. Apple Pay is already accepted at more than 1 million retail stores across the US, setting the stage for rapid and widespread uptake upon launch.
Article
| Mar 29, 2023
People don’t necessarily spend a lot of time in credit card apps, and when they do, they’re probably not shopping. Focusing rewards on cash-back deals, as Chase is doing, may not appeal to consumers. “You don't get that instant gratification. You have to be willing to wait for the reward,” said Marzano. But Chase’s current innovation is just the beginning of its potential commerce media endeavors.
Article
| Apr 15, 2024
Open banking, alternative credit models drive US credit card digital account opening growth. Amazon adds new BNPL option to strengthen digital wallet. Apple’s financial services marketing promotes an immersive lifestyle, not just products. US mobile wallet users prefer PayPal, especially for online purchases.
Article
| Aug 25, 2023
“Musk envisioned X.com as a comprehensive platform,” a proto-super app “covering banking, digital purchases, credit cards, investments, loans, and more.”. The problem: Rebranding a universally recognizable social media platform could upend years of brand equity built by Twitter. 90% of Twitter’s revenue came from advertising in 2022.
Article
| Jul 25, 2023
And then in terms of finding a creator, I work with a lot of brands on this and it can often be a little bit easier than it sounds in that just spend time on these platforms and search for the #credit cards and watch the videos under credit cards and watch these different areas that you're interested in and see which creator you're finding and resonating with because if you use, let's say an agency and
Audio
| Nov 12, 2024
Some 63% report having a credit card, per GWI’s Q2 2023 report. In addition, 39% have purchased a product or service online within the last week, and 30% are in a high income group. But despite their purchasing power, only 10% of boomers see themselves represented in advertising, according to the same report.
Article
| Nov 20, 2023
The platform’s “vitals” section combines market conditions and customers’ financial behavior to track their net worth, FICO score, portfolio performance, and credit card reward balances. Life Sync will also contain a news feed with financial content on topics like asset allocation and a podcast that covers subjects like retirement and family financial planning. How is it different?
Article
| Feb 27, 2023
But Wells Fargo set aside $1.2 billion for credit losses, 26% higher QoQ, tied to commercial real estate, credit card, and auto loans. Consumer deposits were down 2% QoQ and 7% lower YoY at $1.36 billion. Goldman Sachs. Goldman’s profits shrank as its disappointing consumer banking endeavors and weak trading and dealmaking hurt growth.
Article
| Apr 20, 2023
Enforce open banking for checking, savings, and credit card accounts, prepaid cards, and digital wallets. Require application programming interfaces (APIs) and a developer interface. Effectively ban screen scraping and credential sharing. Clarify the data that a bank must make available. What’s the current deadline?
Article
| Jul 19, 2024
“A lot of Gen Zers are jumping onto buy now, pay later [BNPL] because they either don’t want to embrace traditional credit cards or don’t have the credit yet,” said Feger, who expects the service to become even more popular for holiday shopping.
Article
| Dec 1, 2023
Sales increased 10.6% compared with the same time period in 2023, per Affinity Solutions data based on credit card, debit card, and transaction data. Unlike Prime Day, these smaller sales don’t require shoppers to be Prime members to receive discounts. Still, 28% of Big Spring Sale shoppers who were not Prime members signed up for the program after the sale, according to data from CivicScience.
Article
| May 21, 2024
Recent regulatory scrutiny surrounding card fees threatens to undermine a key revenue source for Synchrony—which may be why it's looking into a branded digital wallet. The Consumer Financial Protection Bureau is considering lowering the amount credit card issuers can charge for late payments. Late fees are about 17% of Synchrony’s net interest income, according to UBS analysts.
Article
| Mar 31, 2023
The bank said the allocation was necessary for recent growth in the credit card portfolio. Morgan Stanley. Morgan Stanley also saw its profit dip at 37% YoY, though its Q4 revenues of $12.7 billion beat analysts’ expectations of $12.54 billion. Revenues were powered mostly by the bank’s wealth management group, which reported more than $310 billion in net new assets and record revenue for the quarter.
Article
| Jan 18, 2023
“So Target next month plans to launch a new membership service, Target Circle 360, which for Target Circle credit card holders will be about half the price of Walmart Plus,” he said. Walmart Plus also competes with Amazon Prime, which includes everything from fast, free shipping to video and music streaming services to photo storage, to discounts at Whole Foods.
Article
| Mar 21, 2024
Credit card volume led with 13% YoY growth, followed by debit at 7%. Both slowed from the year prior, at 22% YoY and 12% YoY, respectively. Cross-border volume was a large growth contributor, increasing 24% YoY. Newly instated CEO Ryan McInerney said during Visa’s conference call that cross-border volume is at 130% of pre-pandemic levels.
Article
| Apr 27, 2023
Visa and Mastercard said their debit and credit cards continued to function without any disruptions throughout the crisis, executives told analysts at a recent Wolfe Research Conference. Affirm said SVB was neither a funding partner nor an originating bank partner, and that large banks held the majority of its operating accounts.
Article
| Mar 20, 2023
In the olden days, as I'd say, you used to have to go to a branch to open up a credit card. But these days, I saw a recent data point where about 90% of general consumer-facing credit cards are opened up digitally. Whether mobile or on the internet. Rob Rubin:. 90%? Grace Broadbent:. Yes. Just about. Rob Rubin:. That's a lot. Grace Broadbent:. Yeah. It's really changed.
Audio
| Jul 11, 2023
IFPA bars interchange fees on the tax and tip portions of credit and debit card transactions. Signed into law in June, it’s being challenged in a lawsuit by the Illinois Bankers Association, the American Bankers Association (ABA), and other groups. Why this matters: Durbin is a central player in this debate.
Article
| Oct 11, 2024