The average American consumer is back to spending at 2012 levels, and will plan to shell out $842 this year, compared to $1,260 in 2013 and $848 in 2012. However, shopping on smartphones and tablets has jumped over the last two years.
USAA’s insurance, banking and credit card businesses earned top rankings in the latest Net Promoter Score (NPS) Benchmark Study by Temkin Group. NPS identifies the likelihood of consumers to recommend a company to their friends and family, using a scoring range from -100 to +100.
TN-based EFT Source reports NJ-based Atlantic Stewardship Bank after implementing the Card@Once system realized a 7.32% year-over-year increase in interchange revenue within the first month. EFT Source is a provider of turnkey card programs and personalization services for ATM and debit cards for financial institutions.
Bank credit card purchase dollar volume (PDV) increased 8.6% year-on-year (Y/Y) and 0.7% quarter-on quarter (Q/Q) in the third quarter (Q3/14), as outstandings continue to contract. The change in consumer behavior is significant for issuers who rely on interest income to subsidize purchase-based reward program expenses, according to CardData.