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Survey: Consumers See Little Benefit from CCCA; Eye on Fraud; Busey Enlists Corserv for Card Program
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Consumers Don’t See Any Benefit from the Credit Card Bill, a Bankers’ Group Contends
Merchants and credit and debit card issuers have controlled the bulk of the narrative, pro and con, about the proposed Credit Card Competition Act since the legislation was reintroduced last year. But now a recent poll from Independent Community Bankers of America says that most consumers feel they would not …
Read More »Klarna Launches a Web Page to Rebut the Idea That BNPL Burdens Consumers With Debt
Looking to dispel criticism that buy now, pay later loans are predatory-lending products, BNPL provider Klarna AB has launched Wikipink, a Web page that details information about its BNPL business, such as repayment rates, late fee rates, and consumer demographics. “By publishing our facts and figures with full transparency, including …
Read More »Digital Wallets: Users Are Happier, But Adoption Still Lags Among Consumers And Merchants Alike
Customer satisfaction with digital wallets is on the rise, which is helping propel consumer adoption and usage, according to J.D. Power’s newly released 2024 Digital Wallet Satisfaction Study. Despite the increase in customer satisfaction, though, the study found wallets providers still have work to do to raise adoption among both …
Read More »Consumers Pay $25,000 in Annual Bills; The Slowness of Payments M&A; Plus Weekly Recap
Consumers Are Paying Off Sooner on Holiday Purchases Financed With BNPL Loans, Klarna Finds
Shoppers financing purchases during 2023’s Black Friday weekend are paying off their loans sooner than they were a year ago. Some 30% of BNPL purchases made during that period in the United States were paid off early, compared to 24% a year earlier, according to BNPL provider Klarna AB. Overall, …
Read More »In Chargebacks, Consumers Trust Their Banks, a Chargebacks911 Report Finds
Most U.S. consumers—53%—concerned about a possible fraudulent transaction on their credit card statements make the first inquiry with the issuing bank, not with the merchant. That’s according to the newly released 2024 Cardholder Dispute Index released by Chargebacks911, a Clearwater, Fla.-based dispute-management company. Conducted in partnership with TSG, an Omaha, …
Read More »Consumers Are Spending More On Gift Cards As P2P Apps Open As a Channel
Prepaid card spending is on the rise, according to Fiserv Inc.’s annual Prepaid Consumer Insights Study. Some 69% of consumers surveyed say they purchased the same number of gift cards, or more, in 2023 compared to 2022. In addition, 40% of buyers are putting at least $50 on gift cards, …
Read More »Payment Apps Are Making Steady Strides With Consumers, an ETA/TSG Study Shows
Roughly a decade after Apple Pay and other digital wallets burst into the U.S. payments market, the apps seem to be well on their way toward mass adoption, according to consumer-survey results released early Wednesday by the Electronic Transactions Association and the consulting and research firm TSG. In line with …
Read More »Eye On BNPL: Consumers Look To BNPL To Avoid Card Debt; Sezzle’s Deal With Sportsman’s Warehouse
Consumers’ concerns about incurring credit card debt this holiday season is pushing many shoppers to consider buy now, pay later loans as a budget-management option, according to a report from the payments firm Klarna AB. Some 53% of respondents expressed concern about incurring credit card debt during the holiday season. …
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