Eric Marks
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Eric Marks, Managing Director of Auriemma Consulting Group.
Card Portfolio Valuations
Credit card portfolio valuations are set to decline and the value reductions will appear in earnest by 2017. Driving the change are both changes in card business models as well as regulatory and accounting rule changes.
First Card Benefits
Being the first card in the wallet brings huge rewards to issuers. But the Millennial population brings new challenges to reach into their wallets as they shun traditional credit card marketing.
Younger Consumers Prefer Cash/Debit to Credit
Younger consumers are showing a preference for debit cards and cash as their main method of payment over credit, according to Auriemma Consulting Groups (ACG). Debit card usage has become an ingrained habit in younger consumers, as the recession and tightening of lending standards left them unable to obtain credit that fully meets their needs. 44% of younger consumers said they had no interest in using credit cards as their main method of payment. All consumer segments are showing preference to cash because they perceive it to be more convenient than alternatives.
Voltage Security and Ingenico expand partnership to m-payments
Voltage Security, the world leader in data-centric encryption and key management, and Ingenico, the leading worldwide provider of payment solutions, announced that the two companies are expanding their partnership to enable a new level of security in the rapidly emerging area of mobile payments. The combined solution — Voltage SecureData Payments integrated into Ingenico’s iSMP…
Consumers Want More Valuable Credit Card Rewards
UK consumers are demanding rewards credit cards that offer enhanced benefits or greater value, according to research conducted by the Auriemma Consulting Group (ACG). ACG’s research found that consumers have become apathetic towards their current rewards cards, with 25% of consumers being neither satisfied nor dissatisfied with their rewards card, and 31% of consumers perceiving…
Auriemma Gages EMV Chip Reception
It’s been a long time coming, but there are indications that the US is finally going to adopt EMV chip. This technology has already been embraced by the rest of the world as a way to make card payments more secure. Recently, Visa, MasterCard, and Discover have announced measures to encourage EMV migration in the…
Consumers Hang Onto Payment Cards, Shelve mPayment
Almost all forecasts which have looked into the subject have found that a majority of new mobile phones sold in the U.S. market are likely to be smartphones in the near future. Sales of these pocket-sized computer devices are growing very rapidly, and as older handsets require replacement, smartphones will be the most likely devices…
Greater Transparency Needed in Credit Card Terms and Conditions
Consumer understanding of UK credit card terms and conditions is in need of improvement, according to research published by the Auriemma Consulting Group (ACG). ACG’s Industry Satisfaction Index (ISI) measures customer satisfaction with credit cards, and rated 61.6 points out of 100 in Q4 2011, with consumer understanding of terms and conditions heavily weighing down the index. Consumers were asked to rate statements about credit cards in terms of how strongly they agreed. Responses shown are weighted on a 25 point scale, and summed to a total possible index score of 100.
ACG Reports mPayments Report & Usage
The Auriemma Consulting Group (ACG) is set to launch its new Mobile Payments Report (MPR), a market research service that provides comprehensive and trended insight covering mobile as a payments device, means to manage finances, marketing channel, and as a method of engaging with consumers. The MPR is an invaluable source of insight that solves multiple issues in a rapidly evolving market place. Unlike other ‘spot’ research it is trended four times a year, can have customised cross-tabulations based on precise subscriber needs, and will evolve as the industry evolves. Through insight and research, it enables subscribers to understand how consumers think, feel, and behave to craft compelling strategy and propositions. The report is to ensure subscribers can monitor best practices and access timely, up-to-date, tracked and trended consumer insight.
Credit Card Issuers to Increasingly Compete for Online Payments
Online payment space is what UK credit card issuer are sure to vie for throughout the next couple years. Credit cards are used for 49% of online purchases, but payment methods such as PayPal now account for over 20% of online purchases. But this poses risk because their market share has primarily been taken from credit cards, as both PayPal and emerging payment methods expand into new categories. These findings, according to Auriemma Consulting Group (ACG), also show 36% of consumers find purchases more secure with credit cards; 33% value rewards on purchases; 16% enjoy available credit on the card account; 8% cite convenience; and 7% prefer their credit card because of the good interest rate.
Consumers Apathetic to UK Credit Card Offers
Research now indicates only 8% of UK consumers felt current credit card acquisition offers in the market were ‘valuable’ according to research recently published in Cardbeat, a market research report on UK consumer credit card usage published by Auriemma Consulting Group (ACG). Experts blame card issuers’ focus having become about BTs as the principle point of competition. ACG believes that a broader suite of innovative offers that appeal to the wider credit card consumer base would improve customer perception of value. Additional findings show 58% of respondents are apathetic towards card offers in general; 8% of respondents were likely to apply for a new card in the next 12 months; and 57% of respondents reported that a bad service experience would make them consider a new card.