Tencent will allow Visa credit cards to be linked to its WeChat app. When this ability is rolled out next month, foreign tourists visiting China will be able to pay with the WeChat app, Royal Chen, vice president of Tencent Financial Technology, said Wednesday (June...
Square now offers its U.S. sellers a credit card, new loan options and early deposit access. These new tools are designed to meet sellers’ financing and cash flow needs and empower them to more efficiently manage their business finances, the commerce solutions provider said in...
If you’re reading this, chances are you have a credit card, as nearly 200 million Americans do — with many holding more than one. And those cards are getting more use than ever, especially in this current economic environment. “People use credit based on the...
Your card bill might read “2023,” but for credit card delinquency rates, it’s 2019. As Seeking Alpha noted in a report Monday (June 19), those rates now exceed pre-pandemic levels for at least three card companies: Capital One, Discover and Bread Financial. The report cites comment from...
Credit card delinquency rates at two of America’s biggest lenders remained low last month. Reports Thursday (June 15) from Seeking Alpha (SA) showed delinquency rates holding steady for both American Express and JPMorgan Chase. Meanwhile, Capital One saw its delinquency rates and net charge-off rates...
Proposed lawsuits against Mastercard and Visa in the United Kingdom have been halted. The country’s Competition Appeal Tribunal ruled Thursday (June 8) that the four lawsuits proposed by Commercial and Interregional Card Claims (CICC) cannot proceed now but that the lawyers can provide revised proposals within eight weeks....
The credit card market has typically been dominated by a few key players. The top-five issuers are behind roughly three-quarters of credit card loan balances, and the Federal Reserve reported that credit card debt stands at an all-time high of roughly $930 billion. Dan Hanks, vice president of global...
Consumers are leaning on credit monitoring features to manage their finances — and they may switch providers for these tools. Inflation may be slowing down somewhat, but consumers are still scraping by as the cost of essentials such as groceries remains 7.1% higher than a year ago. In...
Inflation is pushing credit card spending to new heights as consumers increasingly use cards to pay for daily expenses. PYMNTS’ latest study reveals that one-third of United States cardholders increased their credit card spending in the last six months, with the higher cost of living...
