For banks and credit unions looking to modernize, the timing has never been better. “Banks want to offer more competitive products, increase profitability and, critically, own the customer experience — especially credit unions that place a premium on member satisfaction,” Dan Hanks, senior vice president...
Brex secured a $235 million credit facility to expand its ability to provide global corporate cards and solutions for expense management, travel, banking and bill pay. The credit facility was provided by senior lender Citi and participating lender TPG Angelo Gordon, Brex said in a...
Credit card defaults are at their highest level since 2010 as consumers feel increasingly stretched. As the Financial Times (FT) reported Sunday (Dec. 29), card lenders wrote off $46 billion in seriously delinquent loans in the first nine months of this year, a 50% jump...
More than a quarter of consumers own a store card, defined as a card that exclusively features a retailer’s branding. While co-branded cards can be used across several retailers, store cards can be used only at a particular merchant. The PYMNTS Intelligence report “The Role...
Rewards are among the key determinants in how consumers choose — and use — credit cards. In the PYMNTS Intelligence report “The Role of Rewards Programs in Credit Card Usage,” 71% of consumers said they were satisfied with their card rewards programs, which leaves about...
The United Kingdom’s Payment Systems Regulator (PSR) proposed a price cap on cross-border interchange fees and is seeking comment on the level at which the cap should be set. The PSR is doing so after publishing a final report on its market review in which...
Fifty-three million U.S. consumers don’t have a credit card and are known as “credit card outsiders.” This diverse group includes both younger people seeking to build credit and older, cautious consumers. A PYMNTS Intelligence report, “Prime Candidates for Secure Credit Cards Include Young and Wealthy...
European lawmakers reportedly asked the United Kingdom’s Payment Systems Regulator (PSR) to reconsider its plans to restore a cap on interchange fees that was lifted after Brexit. Members of the European Parliament wrote a letter to the PSR, asking the regulator to conduct a full...
Late last week, a federal judge upheld an order blocking a cap on credit card late fees, as PYMNTS reported. But the debate over the fees — their usefulness, whether they should exist at all — is far from over. For the moment, though, the...