Small business owners have a message for the companies that issue business credit cards. They want digital tools, but keep a human nearby. The PYMNTS Intelligence report “Ready for Change: Why Nearly Half of SMBs Want to Ditch Cash and Checks,” a collaboration with Mastercard,...
Secured credit is getting a second look because many consumers are losing confidence that traditional credit will be available when they need it. The PYMNTS Intelligence report, “Secured Credit’s Next Turn: Unlocking Growth With Dynamic Funding,” finds secured credit is moving beyond its old role...
Visa and Mastercard may be winding down a two-decade long court battle with merchants over the fees merchants pay to accept credit cards. A judge granted preliminary approval Tuesday (June 9) to the companies’ $38 billion settlement with merchants that was announced in November, Reuters...
Revolut plans to launch five credit cards in the United Kingdom, Bloomberg News reported Thursday (June 4). “Credit cards [are] something that we are passionate about,” Revolut U.K. CEO Francesca Carlesi said at the Money 20/20 conference in Amsterdam Thursday, per the report. “It’s going...
The Consumer Financial Protection Bureau is working with Bilt to address credit card customer concerns, according to a Tuesday (June 2) press release. The concerns stem from the FinTech’s transition from Wells Fargo to a new banking partner earlier this year, per the release. “CFPB...
The Illinois legislature voted Monday (June 1) to delay implementation of the Interchange Fee Prohibition Act (IFPA) for a year. If the bill containing this provision (SB3645) is signed into law by the governor, the act will be effective July 1, 2027, rather than July...
Sen. Elizabeth Warren is seeking answers from Bilt on recent payment problems, The Wall Street Journal (WSJ) reported Thursday (May 28). Bilt, known for its rent rewards program, introduced new cards in February after the end of its partnership with Wells Fargo, the report said....
The competition among card issuers is no longer centered only on rewards rates or promotional offers. Increasingly, it is about whether an issuer can become embedded deeply enough in a customer’s daily financial activity that the relationship becomes difficult to displace. That is one of...
Credit products are becoming more configurable, more installment-oriented and more closely tied to real-time consumer behavior. The shift is forcing issuers to rethink the infrastructure supporting everything from revolving balances to embedded installment plans. A March PYMNTS Intelligence and Paymentology Tracker, “The Credit Reset: How...