Payments News

On The Web

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Industry

Consumer Spending Helps Put AmEx Within a Whisker of Pre-Pandemic Times

“Driving the improved results was steady improvement in the company’s vital travel-and-entertainment business and increased usage from younger cardholders, the company said. “We saw Card Member spending accelerate from the prior quarter and exceed pre-pandemic levels in June, with the largest portion of this spending growth coming from Millennial, Gen Z, and small business customers,” […]
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Industry

U.S. Bancorp Says Payments-Unit Success Highlights Recovery

“U.S. Bancorp said renewed strength in its payments businesses is a bullish indicator for both its own prospects and the national economy…Total sales across the bank’s corporate-payment systems, merchant acquiring and credit- and debit-card units exceeded 2019 levels for the first time since the start of the pandemic, the Minneapolis-based bank said in a statement […]
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On The Wires

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Companies

Visa U.S. Spending Momentum Index Signals Continued Spending Growth

“Visa (NYSE: V) today released the June reading of the Visa U.S. Spending Momentum Index (SMI), an economic indicator designed to be a timely gauge of the health of consumer spending. The Visa SMI delivers insight into what drives upturns and downturns in spending by measuring the breadth of the momentum supporting these trends. In […]
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Industry

Mastercard SpendingPulse: U.S. Retail Sales Grew 11.0%* Year-Over-Year in June

“Just as summer months bring warmer weather, U.S. retail sales continue to heat up, with June marking the ninth consecutive month of total retail sales growth*. According to Mastercard SpendingPulseTM , U.S. retail sales excluding automotive and gasoline increased +11.0% year-over-year in June and increased +10.4% compared to June 2019. E-commerce growth continued to hold […]
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Industry

Visa U.S. Spending Momentum Index Remains Robust in May

“Visa (NYSE: V) today released the May reading of the Visa U.S. Spending Momentum Index (SMI), an economic indicator designed to be a timely gauge of the health of consumer spending. The Visa SMI delivers insight into what drives upturns and downturns in spending by measuring the breadth of the momentum supporting these trends. In […]