On The Web

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Industry

Pandemic Payment Habits Are Looking Sticky

May 7 2021

“Whatever happens to people’s desire to spend in the months ahead, it does seem like they will be doing it more digitally . For one, debit cards’ surge within digital wallets doesn’t seem to be slowing. Many consumers are doing more of their spending digitally on everyday purchases like groceries or sundries, for which they […]

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Industry

As Covid Restrictions Ease, Consumers Are Using Debit Cards for Hotels, Motels, And Auto Rental

April 16 2021

“More evidence emerges of how consumer spending has changed in the past year. Consumers are using their debit cards more for transactions at hotels and motels within the travel sector, according to the PSCU Payments Index for April. Released Thursday, the index shows that debit card use accounted for 35% of transactions at hotel and […]

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Industry

$1,400 Stimulus Checks Helped March Retail Sales Soar 9.8%

April 16 2021

“Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again. Retail sales surged a seasonally adjusted 9.8% in March after dropping about 3% the month before, the Commerce Department said Thursday. The increase was the biggest since May of last […]

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Industry

Fueled by Pandemic, Contactless Mobile Payments to Surpass Half of All Smartphone Users in US by 2025

April 6 2021

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• Contactless

“Among other technology trends accelerated by the COVID-19 pandemic, the use of contactless mobile payments boomed in 2020. According to a recent report by analyst firm eMarketer, in-store mobile payments usage grew 29% last year in the U.S., as the pandemic pushed consumers to swap out cash and credit cards for the presumably safer mobile […]

On The Wires

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Companies

Visa Launches U.S. Spending Momentum Index—A New Way to Gauge the Economic Health of U.S. Consumers

May 12 2021

• in
• Visa

“Visa (NYSE: V) today launched 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 April 2021, the Visa SMI […]

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Companies

Mastercard SpendingPulse: April U.S. Retail Sales Grow 23.3%* As Trends Point to a Recovering Economy

May 6 2021

• in
• Mastercard

“Total U.S. retail sales sprung into another month of double-digit growth in April, according to Mastercard SpendingPulseTM , which measures in-store and online retail sales across all forms of payment. U.S. retail sales excluding automotive and gasoline increased 23.3% year-over-year in April, and 10.8% compared to April 2019. Online sales in April grew 19.9% and […]

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Global

Mastercard New Payments Index: Consumer Appetite in Middle East and North Africa for Digital Payments Takes Off | Middle East/Africa Hub

May 5 2021

“The Mastercard New Payments Index shows 95% of Middle East and North Africa (MENA) consumers will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year. Over two-thirds of respondents (65%) agree they have tried a new payment method they would not have tried under normal circumstances, […]

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Companies

Mastercard New Payments Index: Consumer Appetite for Digital Payments Takes Off

May 4 2021

• in
• Mastercard

“The Mastercard New Payments Index, conducted across 18 markets around the world, shows 93% of people will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year. Nearly two-thirds of respondents (63%) agree they have tried a new payment method they would not have tried under […]

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Industry

Mastercard SpendingPulse: U.S. Retail Sales Grew 26.3% Year-over-Year in March, One Year Since First Lockdown

April 8 2021

“U.S. retail sales growth rates increased by double-digits in March as we hit the one-year mark since the first Covid lockdowns impacted retail sales. According to Mastercard SpendingPulseTM , U.S. retail sales excluding automotive and gasoline increased 26.3% year-over-year in March, and online sales grew 56.8% compared to 2020. Mastercard SpendingPulse measures in-store and online retail sales […]

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Industry

US Payments Forum Market Snapshot: Industry Works to Secure E-commerce Transactions; Touchless Is Here to Stay; and EMV at the Pump Moves Forward

April 7 2021

“The U.S. Payments Forum today released its latest Market Snapshot providing a look at the state of the industry, including the accelerated shift to touchless payments and e-commerce, the long-term impact on payments technology due to COVID-19, the transition to EMV® at the pump, and current Forum priorities and projects.”