Payments News

On The Web

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Domains

OEM Pay Transaction Volumes to Exceed $1tn a Year by 2024

“Consumers will use payments services provided by smartphone makers and other original equipment manufacturers (OEMs) to make transactions valued at more than US$1tn a year by 2024, up from US$333bn in 2020, according to Juniper Research. Apple Pay, China and the adoption of contactless payments for transit ticketing will be the key drivers of the […]
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Reports

Contactless Payments Set to Triple to US $6tn by 2024

“Global contactless transaction values will reach nearly US$6tn in 2024, up from US$2tn today, Juniper Research forecasts. “This increase will be driven by significant growth in OEM Pay and contactless card transaction values, especially in the US,” the analysts say. Improvements in China’s contactless POS infrastructure will also be a key driver of the increase, […]
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Reports

Consumer Credit Jumps in December

“Revolving credit, like credit cards, jumped 14% in December. This is the fastest pace of growth since April 1998. Nonrevolving credit, typically auto and student loans, rose 3.7%. For all of 2019, credit card debt was up at a 4.2% pace while nonrevolving credit was up at a 4.8% pace. The data don’t include mortgage […]
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Reports

Survey: Shoppers Are Ready for Leading-edge Store Tech

“A multinational consumer survey from digital financial technology provider Wirecard reveals that large percentages of respondents have interest in using emerging technologies to streamline a variety of in-store shopping activities. Seven in 10 (71%) are somewhat or very interested in a self-checkout app. And 65% are somewhat or very interested in a smart mirror that […]
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Reports

LexisNexis Risk Solutions Report Highlights Size, Scale and Monetary Exposure of Global Cybercrime Networks| LexisNexis Risk Solutions

“This global, networked pattern of cybercrime is further reflected in mobile attack rate growth, which is heavily influenced by a global bot attack targeting mobile app registrations. Fraudsters are migrating attacks to exploit the mobile channel: Of the 19 billion transactions recorded by the LexisNexis® Digital Identity Network® in this six month period, for the […]
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Reports

Credit-Card Debt in U.S. Rises to Record $930 Billion

“Total credit-card balances increased by $46 billion to $930 billion, well above the previous peak seen before the 2008 financial crisis, according to data released by the Federal Reserve Bank of New York on Tuesday.  Some cardholders, particularly younger ones, are running into trouble. The proportion of credit-card debt in serious delinquency, meaning payments were […]

On The Wires

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Reports

Bankers Confident About Future but Signal Fintech Fear

“More than three-fourths (76%) of bank respondents said they fear new payment and money transfer platforms, like ApplePay, PayPal, Stripe, and Venmo, more than any other type of fintech competitor. Half expressed a high level of fear. Bankers were split on whether they should fear specialty lenders like Earnest, Kabbage, and Quicken Loans/Rocket Mortgage, with […]
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Reports

More Baby Boomers Prefer Digital Tax Refunds Compared to Millennials

“Although a majority of U.S. adults (74%) opt for direct deposit when receiving tax refunds, more Millennials (17%) and Gen Xers (17%) prefer to receive a check in the mail compared with Baby Boomers (14%), per new research from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions. When […]
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Reports

More Baby Boomers Prefer Digital Tax Refunds Compared to Millennials

“Although a majority of U.S. adults (74%) opt for direct deposit when receiving tax refunds, more Millennials (17%) and Gen Xers (17%) prefer to receive a check in the mail compared with Baby Boomers (14%), per new research from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions. When […]
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Reports

Digital Wallets to Represent Half of Global ECommerce Sales by 2023, According to 5th Annual Worldpay Global Payments Report

“Financial services technology leader FIS ™ (NYSE: FIS) today released its Worldpay from FIS 2020 Global Payments Report, a comprehensive analysis and forecast of consumer payment trends in 40 countries around the world. The report predicts that digital wallets will represent half of global eCommerce sales by 2023, while “Buy Now, Pay Later” (BNPL) methods […]