The younger the consumer, the less likely they are to use credit cards. Only 42% of Generation Z consumers and 62% of millennials said they used a credit card in the last 90 days, according to “The Credit Economy: How Younger Consumers Make Credit Decisions,”...
IndusInd Bank has launched a corporate credit card on the RuPay network. With this launch, the new eSvarna corporate credit card will integrate Unified Payments Interface (UPI) functionality, the bank said in a Tuesday (Dec. 26) press release. “The product comes from our deep understanding of the segment and we are...
Card interchange fees have fierce defenders and heated detractors. Turn on the financial news, and commentary might touch on whether cards are “free” — and who ultimately pays the price. Legislation is winding its way through Congress, most visibly with the Credit Card Competition Act....
Making your loved ones happy is priceless. For everything else, there’s a credit card. Picking a credit card can be challenging. Whether you’re considering annual fees, APR rates or rewards, there’s always another factor to weigh. With the latest edition of PYMNTS’ Provider Ranking of...
In the United States, the average consumer has four credit cards, and the total credit card debt is nearly $1.1 trillion, according to data from the Federal Reserve Bank of New York. But who do they turn to for their primary credit cards? Consumers pick...
Card delinquencies and charge-offs offer evidence of the struggles of meeting current obligations. They can also be a harbinger of spending slowdowns in the future. The latest data from credit card giants, disclosed in SEC filings in recent days, show that card delinquencies were on...
Goldman Sachs is reportedly facing an uphill climb in exiting its Apple Card partnership. The Wall Street giant is expected to face pressure from possible issuers to lower the value of its stake to make the price more enticing, Reuters reported Monday (Dec. 18), citing sources familiar with the matter....
American Express has launched a campaign to increase acceptance of its cards in Australia. The company’s OptBlue program is set to onboard “thousands” of small merchants onto American Express’s network via two merchant acquirers, Fiserv and Tyro, the company said in a news release provided...
Both American Express and Bank of America saw credit card delinquencies climb last month. According to a recent Securities and Exchange Commission filing, American Express’ delinquency rate rose from 1.3% in October to 1.4% at the end of November, a figure that’s still below pre-pandemic levels. Bank of America, meanwhile, reported...
