The average credit card delinquency rate ticked up from 2.48% in June to 2.50% in July, Seeking Alpha reported Tuesday (Aug. 18), based on the results of seven banks. The figure remains below the pre-pandemic average of 2.68%, according to the report. During the same...
Businesses can now use their Square Credit Card to pay vendors that don’t accept cards, as well as those that do, Square said in a Tuesday (Aug. 11) press release. This enhanced Bill Pay feature lets sellers pay rent, insurance, marketing expenses and other vendor...
A trio of senators have lent their support to the Credit Card Competition Act. Sens. Angus King, I-Maine, Cynthia Lummis, R-Wyo., and Bernie Moreno, R-Ohio, have signed on as co-sponsors of the bill, which is opposed by banks and credit unions and supported by merchants...
About 1,850 Bilt cardholders received mistaken collection notices, the Wall Street Journal reported Tuesday (Aug. 4). A Bilt spokesperson said in the report that the incident was caused by a third-party collections agency’s reporting error and that it affected customers in Bilt’s original beta program...
Thredd is helping Pliant expand its commercial credit/embedded finance platform to the U.S. As the issuer processing platform noted in a Tuesday (Aug. 4) news release, Pliant offers businesses in Europe physical and virtual credit cards “that have built-in reconciliation, spend controls, and deep integrations into modern finance stacks.”...
Revenue growth remained healthy across the payments industry this quarter, but earnings calls and P&L statements also shed light on what makes a payment network stronger over time. Visa discussed credentials, money movement and tokenization. Mastercard repeatedly described a continuum that links network scale, data...
When AI agents start buying things, somebody has to settle the transaction. This week, the four largest card networks in the United States each made the same declaration: The Prompt Economy is their market, and they are building the rails for it. Mastercard Says Cards...
Seventeen percent of card issuers have reached the high customer lifetime value (CLTV) tier. What sets them apart isn’t the number of capabilities they’ve deployed, but the order in which they built them. For card issuers, customer lifetime value has traditionally been treated as the...
Buy now, pay later was supposed to take business away from credit cards. Instead, credit cards appear to be taking a page from BNPL. PYMNTS Intelligence research from the “Pay Later Ecosystem Report” finds consumers are increasingly choosing installment plans attached to their credit cards,...