A new study reveals use of mobile phones to make in-store payments nearly quadrupled from 5% in 2014 to 18% today. Currently about 1 in 5 consumers using their phone to make a payment in-store.
Holiday retail sales are expected to grow by 3.6% driven by growing consumer optimism about personal finances, Nearly half (47%) of those surveyed indicate they are more confident in their financial situation than last year (37%), and 48% plan to start their holiday shopping earlier this year.
According to new research 60% of Americans created or used an online account with a retailer in the last 12 months, which suggests convenience ranks top-of-mind for U.S. shoppers. In fact, 47% said they create online accounts because it is quicker and easier to shop.
New U.K. research shows the adoption of mobile banking apps is no longer exclusively popular for “digital natives” (those born into the digital age), with take-up being spread across all age groups and segments
The Knot and PayPal released a survey with a key finding that they want to pay for their wedding electronically and on their smartphones. With PayPal, couples can send money and make deposits to vendors quickly on their smartphones, especially on their wedding day.
New research finds one third of adults in the U.S. have ruined a relationship over IOUs and are owed on average $450. A driving reason is discomfort around financial conversations; more than 50 percent of Americans find it awkward to ask their friends or family to pay them back.
A recent survey shows more than half of parents with students in grades K-12 are likely to set a budget for back-to-school expenses. College students are focused on items they need – 83% plan to reuse where possible and replenish essentials, and 63% will refer to last year’s spending as a guideline.
New research shows about 50% of survey respondents are now shopping using a mobile device. Almost one-third are purchasing a product after seeing it on social media. Approximately one-third of survey respondents indicate that text offers would drive an incremental shopping visit. Value propositions, including free shipping, loyalty programs and personalized offers, continue to be important.
Apple Pay is now live in the UK, and MasterCard has announced it will offer its cardholders immediate access to the new service helping them to use their cards where and how they want with a seamless experience.
In today’s CardFlash News Que: BOFA (Euromoney); FAPS (award); BATCHED.COM (EMV); and E-COMMERCE 4 (report).
Bank of America’s mobile banking platform has more than 17 million active users and growing at a rate of approximately 5,000 users per day. During the first quarter of 2015, mobile banking customers logged into their accounts more than 625 million times, or almost 40 times per user.
Fiserv, Inc. announced that PBC Credit Union, based in West Palm Beach, Florida, has expanded its long-term relationship with Fiserv, upgrading its DataSafe® account processing platform and adding integrated digital solutions to enhance member services. The credit union added Mobiliti™ for mobile banking, Loancierge® for Credit Unions for automated lending, Wisdom™: Accounting for comprehensive accounting and Wisdom: 5300 Call Report Assistant for call report functionality.