On The Web

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Industry

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

July 26 2021

“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

How the Pandemic Has Forced Changes in the Way Acquirers Approach—And Sell To—Merchants

July 26 2021

“Ever since the Covid pandemic set in more than a year ago, the payments industry has been abuzz with talk about its various impacts on merchant acceptance. What hasn’t received as much attention is how the pandemic has affected merchant acquiring. It turns out processors and independent sales organizations have seen some surprising results.”

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Industry

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

July 16 2021

“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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Industry

Over Half the World’s Population Will Use Mobile Wallets by 2025, Says Boku Study

July 8 2021

“More than one in two people will use a mobile wallet by 2025, as cash is increasingly displaced, finds a study from mobile payments company, Boku. This equates to an increase of 2.7 to 4.8 billion wallets in use globally in the next four years. Leading the way in this transition is Southeast Asia, with […]

On The Wires

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Companies

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

July 9 2021

• in
• Visa

“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

July 8 2021

“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

Mastercard Economics Institute: One in Five Countries Approach Pre-Pandemic Domestic Flight Levels; International Travel Lags Behind

June 29 2021

“After flights were largely grounded and travelers stayed home in 2020, the return to travel has become one of the most anticipated — and uncertain — activities of 2021. Today, Mastercard released Recovery Insights: Ready for Takeoff? , a view into key travel trends in the air and on the ground, around the world. While the […]

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Industry

Contactless Now Accounts for More Than a Quarter of All UK Payments | UK Finance

June 17 2021

• in
• Contactless

“UK Finance today releases its 2021 Payment Markets Report, an analysis of all forms of payments over 2020 showing the impact the Covid-19 pandemic and resultant lockdowns had on the nation’s payments behaviour. For the first time in six years, the total number of payments in the UK declined, falling by 11 per cent to […]

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Industry

Back-to-School U.S. Retail Sales Expected to Grow 5.5%* Compared to Last Year, According to Mastercard SpendingPulse

June 10 2021

“As students wrap up the current school year, retailers – and parents – are already preparing for a robust back-to-school shopping season as more kids head back into the classroom. According to Mastercard SpendingPulse ™, which measures in-store and online retail sales across all forms of payment, U.S. retail sales are expected to grow 5.5% […]

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Industry

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

June 9 2021

“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 […]