Payments News

On The Web

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Industry

Federal Reserve Issues Update to Payments Study

“The Federal Reserve on Wednesday issued an update to the Federal Reserve Payments Study (FRPS) to include findings from recent survey data. The findings highlight changes in card payments and increased adoption of innovative payment methods following the emergence of COVID-19. For example, the recent data show that the number and value of both in-person […]
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Industry

The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups

“Silicon Valley is now awash with stories of people riding seemingly ridiculous crypto investments like Dogecoin , a digital coin based on a dog meme, to life-changing wealth. Bitcoin has soared around 60 percent this year , while Ether, the cryptocurrency tied to the Ethereum blockchain, has increased more than fivefold in value.”
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Industry

21% and Rising: Fury Grows As Credit Card Rates Hit New High

“Campaigners are calling for new legal caps on “exorbitant” credit card interest rates , which have hit their highest levels for more than two decades. Bank of England figures reveal the average annual interest rates offered on credit cards has risen to 21.49%, compared with the base rate of just 0.1%. It is the highest […]

On The Wires

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Industry

Fiserv Research Shows Digital Wallet Use Surging, Fintechs Key to Consumer Financial Experience

“With consumers leveraging digital tools more than ever, fintechs have become integral to the consumer financial experience according to the latest Expectations & Experiences consumer trends survey from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions. Fintechs are playing a key part in enabling money management, often filling a need […]
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Industry

Square, Inc. Changes Name to Block

“Square, Inc. (NYSE: SQ) announced today that it is changing its name to Block. Block will be the name for the company as a corporate entity. The Square name has become synonymous with the company’s Seller business, which provides an integrated ecosystem of commerce solutions, business software, and banking services for sellers, and this move […]
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Industry

Mastercard SpendingPulse: Thanksgiving Weekend Retail Sales +14.1% Year-over-year

“Shoppers drove U.S. retail sales during Thanksgiving weekend up +14.1% year-over-year and +5.8% compared to 2019, excluding auto. According to Mastercard SpendingPulse ™, which measures overall retail sales across all payment types including cash and check, in-store sales rebounded, increasing +16.5% YOY while e-commerce sales experienced sustained growth up +4.9% YOY for the weekend running Friday, November 26 through Sunday, November 28.”
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