The U.S. economy has gone digital. Consumers have transitioned to purchasing nearly every type of product online since March 2020, and they show no signs of going back to brick-and-mortar stores — even as cities across the nation continue to lift capacity restrictions. The trouble...
Only 7 million Americans have no connection to a financial institution but that’s 7 million people who are locked out of the financial services and digital payments opportunities. Commonwealth National Bank CEO Sidney King told PYMNTS that small steps, like issuing prepaid debit cards, can...
Access to financial services is a constant struggle for millions of Americans, with more than 6 percent of American households remaining unbanked and nearly 19 percent considered underbanked. Households with lower incomes are especially likely to lack access to bank accounts, with 19 percent of...
Signs are growing that cryptocurrency is moving into the mainstream, with important implications for other kinds of payments. Its long-term potential to replace cash and checks has been much described, but debit issuers are already seeing opportunity in its rise. Several major card networks have announced plans to issue debit cards that...
Cryptocurrency payments are gaining traction with global consumers who want to spend their crypto at any merchant. In this month’s Next-Gen Debit Tracker, Pavel Matveev, CEO of digital payment platform Wirex, discusses how offering crypto-enabled debit cards can help issuers get in on the action...
Cryptocurrency has recently entered the financial mainstream, with increasing interest from consumers looking to invest in and pay with the digital assets. PYMNTS’ recent Cryptocurrency Payments Report found that almost 16 percent of United States consumers either currently own or previously owned some form of...
Consumers have different payment preferences depending on which stage of life they are in and what their current financial goals may be. Studies have found that millennials between the ages of 25 and 40 and Generation Z consumers between the ages of 18 and 24...
The pandemic has only increased debit’s appeal among debt-averse younger consumers, who are using it to pay for everything from monthly bills to small daily purchases. In the Next-Gen Debit Tracker, Desiree Wolfe, senior vice president and director of Product Services at Webster Bank, explains...
The pandemic continues to affect consumers’ spending preferences as more and more of them trend toward emerging solutions like contactless transactions, peer-to-peer (P2P) payments and mobile wallets, sometimes for the first times in their lives. Many consumers — especially those from younger generations — are...
