Card Spending Increased 13% in April and other Digital Transactions News briefs from 5/6/22

Bank of America Institute reported that credit and debit card spending by BofA credit and debit cardholders increased 13% in April compared to the same month in 2021. Credit card dollar volume rose 22%, while spending on debit cards was up 6%. Combined transactions increased 8%.
Some 43% of consumers would use a mobile debit card in preference to a plastic one, up from 25% in 2018, according to Fiserv Inc.’s report, “2022 Expectations & Experiences: Cards, Credit, and Consumer Control.” For the report, the Harris Poll surveyed 3,007 U.S. adults living in a household with a checking account.
PayByPhone, a mobile app to find and pay for parking, said its app will be available to drivers in Richmond, Va., by agreement with the city.
Nacha said its Payments Innovation Alliance released a guide for financial institutions wanting to implement voice payment capabilities through smart devices.
MoneyGram International Inc. reported first quarter sales of $307.6 million, a 0.8% decrease from $310.1 million for the same period a year ago. The money transfer specialist posted a quarterly net income of $5 million, a reversal from a $15.4 million loss a year ago.

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