Blog Archives

12
May
Credit vs Debit  ·  Studies
Credit Card debt keeps falling. Card issuers are on edge.

Americans are paying down their credit-card debt at levels not seen in years. That is good news for everyone but credit-card issuers. Large card issuers that cater to borrowers ranging from the affluent to the subprime say that overall card

by FiNet

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10
May
Regulations
Federal Reserve solicits comments on debit routing update

To make clear that debit card issuers should allow merchants a choice for routing card-not-present debit payments, the Federal Reserve is seeking public comment on proposed changes to Regulation II. The regulation allows the government to cap interchange fees on

by FiNet

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07
May
Durbin Amendment  ·  Litigation
Merchants put the Fed in the crosshairs of a lawsuit seeking to have debit costs reduced

Merchants have complained for years that they pay too much for debit card acceptance. Late last week, they took their beef to the federal courts with a lawsuit alleging a ceiling set on debit card fees a decade ago by

by FiNet

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06
May
Retail Trends
Mastercard: US retail sales up 23.3 pct; Restaurants see 2-month surge

U.S. retail sales had another month of double-digit growth in April, according to a press release from Mastercard. Mastercard SpendPulse, which looks at retail growth in stores and online, found that U.S. retail sales, excluding gas and automotive, had increased

by FiNet

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04
May
Delinquency
As US consumers ditched credit cards, delinquency rates dropped

The average charge-off rates for six of the biggest U.S. bank credit card issuers fell 5 basis points to 1.95% in March compared to February, according to a report from S&P Global Market Intelligence. While the average rate zig-zagged during

by FiNet

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03
May
Retail Trends
Foot traffic in clothing stores approaches pre-pandemic levels

Apparel stores are seeing more demand now as people start to go out more often, The Wall Street Journal reported on Sunday (May 2). The demand comes at the junction of numerous events, including more social events opening up, vaccines expanding in

by FiNet

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29
Apr
Studies
Electronic payments surged in 2020

The pace of electronic payments jumped last year at a faster pace than the year before as top banks sent more payments than ever during the COVID-19 pandemic, with 26.8 billion transactions worth $61.9 trillion, according to Nacha’s annual report.

by FiNet

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27
Apr
Legislation  ·  Mastercard  ·  Visa
Visa, Mastercard face biggest challenges in a decade

By Lynne Marek | PaymentsDive Senate Majority Whip Dick Durbin was riled up when he leaned into his microphone to speak last month at an antitrust subcommittee hearing. The source of his consternation? The dominance of Visa and Mastercard. Durbin,

by FiNet

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23
Apr
Contactless Payments
What are contactless payments? Let’s break it down…

How we pay for things and services that we need has evolved over the years. First there was trade and then cash. Now we have a heavy reliance on cashless transactions. Contactless payments, with all their benefits, seem like the

by FiNet

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22
Apr
Retail Trends
Bad retailers are failing as innovative merchants thrive, Wharton expert says

Brick-and-mortar stores took a big hit during the pandemic, but the big casualties were bad retailers, not those that took advantage of “stay at home consumers,” by inventing ways to make online buying seamless and yes, even positive experiences. That’s

by FiNet

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