Americans’ debt has increased over the past three decades, due particularly to home mortgages and student loans, with important implications for long-term economic mobility. A full 80% of Americans hold at least some form of debt, and nearly 7 in 10 say debt is a necessity in their lives, even though they would prefer not to have it.
MasterCard announced that more travelers around the world will be able to check out quickly and securely now that several new transit and travel retailers are offering MasterPass. Accepted in 24 countries, MasterPass enables consumers to pay for the things they want with the security they demand, anywhere online or in-app, using any device.
The ING Netherlands app can now make voice-activated payments leveraging voice biometrics technology from Nuance Communications. A smart alternative to PINs and passwords, voice biometrics makes mobile banking easier in the ING Netherlands mobile banking app.
The global Internet of Things (IoT) in Retail Market is expected to grow from US$14.3 billion to US$35.5 billion by 2020 at a compound annual growth rate (CAGR) of 20.0%. IoT in retail is majorly used to manage inventory, track theft and loss, mobile payments, shopper intelligence, and advertising and marketing inventory.
While the average yield for U.S. Visa and MasterCard-branded credit cards, issued by the top four issuers, declined 10 basis points (bps) sequentially (QOQ) in the second quarter to 11.44%, the peer group has bumped up by 6 bps year-on-year (YOY). In Q2/15, Chase was the only top issuer with an increase in yield QOQ, according to CardData.
A new survey has found 68% of mobile payment users report that they are using the alternative payment methods more than last year and 87% of consumers surveyed think merchant-specific gift cards are convenient to use, even higher than bank-connected debit cards (82%).