Global purchase volume for payment cards rebounded from a year-on-year 14.2% collapse for the second-quarter to a mere 1% gain in the third-quarter due to impact of pandemic-related consumer payments, including beefed-up unemployment benefits, but hampered by the downward spiral of travel activity. Global purchase volume for payment cards (PDV) in the third-quarter (3Q/20) among…
Credit card forbearance has driven 30+ day delinquency, among the nation’s Top 100 credit card issuers, to drop to levels not seen in more than 30 years. As a result, credit card delinquency plunged to the historic 2.00% level in the third-quarter (3Q/20), and dropping another 39 basis points (bps) from the prior quarter, according…
Some of the payment conferences for March and April have been rescheduled, postponed, or under review due to COVID-19, most are going forward, according to PYVNTS. However, expect extensive sanitation practices with all events inside or outside the U.S. for the next several months, notes CardTrak. Even those events going forward, especially outside the U.S.,…
Payments performance for both networks and issuers are poised to face the profitability challenges of 40 years ago as the coronavirus impacts rage through all levels of life. The likely impact of the first two quarters of this year will wipe out profitability for 2020 and if COVID-19 extends into the third quarter, the impact…
Global card spending growth started to unwind in the fourth-quarter but the catastrophic worldwide impact of the coronavirus will be stunning for the first-quarter and far beyond. Business spending on travel could fall by more than $150 billion in the first three months. Consumer spending on travel will likely decline by $300 billion in Q1.…
Artificial intelligence in financial payments will be explored fully in March by the AI In Financial Services event and the AI In Finance Summit event in March. The AI In Financial Services event is scheduled for March 17th at the America Square Conference Centre in London. The AI in Finance Summit is slated for March…
Sub-prime cards are gathering more steam as a major deal closes. Credit card debt skyrocketed in December by a record 14%. Majority of Americans want a 36% rate cap. Women in Payments recently recognized exceptionally talented leaders and rising stars in Fintech and Banking. Despite years of warnings, those computers inside your computer remain disturbingly unprotected.…
Discover LGBTQ scores a perfect 100 score alongside almost 700 other companies as “Best Place to Work” for equality. Nordstrom, Macy’s, J.C. Penney and Madewell are shifting retail to preloved clothes, shoes and handbags. GOP wants to revamp the Volcker Rule and continue gutting the CFPB. The Curve Mastercard with Apple Pay app takes shape.…
Omnichannel retail is one the top revolutionary developments in the payments sphere today. Within the next two decades there will be 80 billion connected devices. That includes the devices we carry in our pockets and bags as well as all of the devices we use in our workplaces and homes and literally every other place…
The Fintech digital crème de la crème waltzes into Paris next month. The Paris Fintech Forum will draw more than 2,700 members of the financial technology community from more than 75 countries. The annual event is set for January 28 and 29 at the Palais Brongniart (the former home of the French Stock Market Exchange).…
Fintech disrupters innovators will draw more than 6,000 members of the fintech community to Fintech Connect for a major event slated in London. Scheduled for December 3rd to 4th, the FinTech Connect event will be held at the Excel. Among the featured speakers is Lisa Frazier, head of Wells Fargo’s Innovation Group since 2018. About…
“Innovation,” the buzzword for payment gatherings this fall as Money2020 opens in Las Vegas, and with the MoneyLIVE set for November in London as well as Bank Innovation Build slated for early November in Atlanta. Bank Innovation Build, to the held at the W Atlanta downtown next month, will explore the “how” of banking innovation…