So called “credit card swipe fees” — specifically, interchange fees — burden consumers and businesses, resulting in higher prices charged for goods and services, critics charged at a Senate hearing on Tuesday morning (Nov. 19). And, they said, the current construct of the credit card...
Consumers are borrowing more on their credit cards — just to pay the monthly bills. And as financially struggling consumers move toward hitting their spending limits and might look for new cards or to increase limits, looming new capital rules for banks may mean that...
Card declines impact both merchants and consumers. And from expired cards to lost accounts, there’s no reason for merchants to risk losing sales due to something as mundane as a card decline, often caused by nothing more than old payment credentials. “It’s what we call...
Card disputes have long been viewed as a necessary evil in retail banking and commerce — a cost center to be managed and minimized. But new research from PYMNTS Intelligence and Banyan, “How Card Disputes Are an Opportunity to Cultivate Customer Loyalty,” reveals that these...
Understanding which consumers are drawn to which cards can help financial institutions hone their marketing. PYMNTS Intelligence data shows that nearly 1 in 3 consumers opened a new credit card within the last 12 months, and 4 in 5 were already cardholders. Many of these...
Financial institutions can convert credit card outsiders to become holders of secured credit cards by encouraging them to think long term. While some of these consumers who do not have a credit card are wary of credit, most also know that secured credit cards can...
Private-label credit cards, or store cards, make up a small percentage of overall consumer credit. The Federal Reserve estimated earlier this year that “retail credit outstanding” totaled $130 billion, or more than 2.5% of total outstanding consumer credit, as of the end of last year....
Visa says it is expanding its push-to-wallet capabilities to cover virtual card use. As the payments giant said in a news release Tuesday (Oct. 29), this lets users push virtual cards to mobile wallets such as Apple Pay and Google Pay with the ability to set spending limits...
Consumers spent with confidence last month as retail sales climbed. And as Seeking Alpha noted in its “Credit Pulse” report Sunday (Oct. 27), much of that spending happened with credit cards, with loans at seven major card issuers increasing slightly — 0.4% month over month...
