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...
As credit card spending remains resilient across many consumer segments, issuers are confronting a more nuanced contest over where that spending ultimately lands: not simply in consumers’ wallets, but at the top of them. The latest PYMNTS Intelligence report done in collaboration with Elan, “Winning...
Customer lifetime value (CLTV) has long been seen as something that naturally grows as card issuers add more customers and launch more products. But this report shows that even as issuers invest in digital tools, AI and new capabilities, fewer are building strong, lasting customer...
Watch more: Need to Know With Concora Credit’s Rolando De Gracia Non-prime consumers are not stepping back from commerce, but they are making more deliberate decisions about how each dollar is spent. Rolando De Gracia, chief commercial officer at Concora Credit, described a consumer who...
Dick’s Sporting Goods has relaunched its credit card program and now offers its cardholders 10% back in rewards on qualifying purchases at its brands. The retailer relaunched its credit card program with consumer financing company Synchrony, continuing a collaboration that has been in place for...
If Colorado’s governor signs a bill that’s now on his desk, the state will prohibit payment card networks from charging an interchange fee, or “swipe fee,” on the sales tax portion of a debit card or credit card transaction. The bill, SB26-134, was passed by...