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The new entity aims to use data from roughly 60 million customers to deliver personalized shopping experiences, unify loyalty and credit card programs, and drive cross-brand sales. Macy鈥檚 will close 66 stores this year as part of its 鈥淏old New Chapter鈥� turnaround strategy, which is focused on making its assortment more relevant to shoppers, upgrading stores, and rethinking its store mix.

Only cards beat out PayPal, with debit cards leading social commerce transactions and credit cards close behind. Fellow digital wallets Apple Pay (used by 16.4% of respondents) and Google Pay (9.6%) fell far behind. Gen Z expects Apple Pay at checkout. Gen Zers鈥� payment preferences differ from those of older consumers. One of the biggest distinctions is their love of Apple Pay.

Only 15.6% of US consumers are comfortable using face recognition to make a purchase, and only 12.5% would be comfortable using palm recognition, per our July 2024 US Cash-Back Credit Card Emerging Features survey. Privacy and security concerns abound and will have to be overcome before the tech can take off.

The American Free Enterprise Chamber of Commerce introduced an ad campaign in opposition of the Credit Card Competition Act.

On today's episode, we explore the evolution of the payments ecosystem and discuss the trends to look out for in 2023. In our 鈥淗eadlines鈥� segment, we discuss (among other things) buy now, pay later; credit card fees; and crypto. In 鈥淪tory by Numbers,鈥� we examine payments at retail stores. And in 鈥淔or Argument鈥檚 Sake,鈥� we debate whether interest rate scrutiny by regulators will impact credit card rewards programs. Tune in to the lively conversation between our host Rob Rubin and analysts David Morris and Jaime Toplin.

Many of the pandemic-era rewards used to entice credit card spending could prove costly for issuers this year.

On today's episode, in our "Retail Me This, Retail Me That" segment, we discuss the state of the buy now, pay later (BNPL) union, whether Gen Z will be BNPL users for life or migrate to credit cards, and the stumbling blocks the new payment method faces. Then for "Red-Hot Retail," our analysts give us four of their very specific鈥攁nd potentially risky鈥攑redictions about BNPL in 2023. Join our analyst Sara Lebow as she hosts analysts Sky Canaves and Grace Broadbent.

They鈥檙e becoming delinquent on auto loans and credit card payments at a faster rate than older generations, raising questions about what鈥檚 normal and what鈥檚 troubling.

On today's episode, we discuss the changing demographics of US physicians, how much money doctors make, and how to address physician burnout. "In Other News," we talk about which chatbots are the best at giving medical advice and why medical credit cards might not be as good as advertised. Tune in to the discussion with our analysts Rajiv Leventhal and Lisa Phillips.

Since its launch in September 2023, over 11% of US households have purchased items via TikTok Shop, according to data from a recent Earnest Analytics鈥� report, which analyzed credit card transaction data to learn more about TikTok Shop users.

This Banking & Payments Show episode explores new cash-back credit card features and their appeal. We discuss a CNBC article on merchant rewards, highlight a feature 58% of consumers find extremely valuable, and debate the merits of these features versus more cash-back rewards.

Apple鈥檚 headline-grabbing buy now, pay later (BNPL), savings, and credit card products are just one part of the threat it poses in consumer banking: Its digital platform delivers an almost unbeatable user experience (UX) and is tailor-made for Gen Z. Banks must adapt quickly or risk losing market share.

Only 15.6% of US consumers are comfortable using face recognition to make a purchase, per our July 2024 US Cash-Back Credit Card Emerging Features survey. And only 12.5% would be comfortable using palm recognition. Consumers were most comfortable with fingerprint recognition, at 24.4%.

Catalyst plans to harness those insights to develop personalized shopping experiences, offer unified loyalty and credit card programs, and cross-sell across brands. For this vision to succeed, the company鈥檚 brands must share a common customer base.

Getting cash back is the leading motivator for opening a new credit card, according to 42% of adults worldwide, per January 2024 data from Kantar.

Credit card issuers wrote off $46 billion in seriously delinquent loans during the first nine months of 2024, a 50% jump from the same period in 2023, per BankRegData data reported by the Financial Times. The average CouponFollow survey respondent carries about $4,000 in debt, and nearly 40% have more than $5,000.