Digital banking trends and advancing technology can imply that the unbanked or the underbanked are a diminishing group in U.S. society, but figures show that the underbanked comprise almost a quarter of the population. Unfortunately, this group is likely to be low income, to have...
According to new reports, the amount of U.S. credit card (and other types of revolving debt) has exploded to $18 billion in just the last three months – triggering concerns among experts that Americans are getting a little too debt-happy when the U.S. could be...
Look no further than a mobile device, in-store payment terminal or even the latest wearable device to experience firsthand how advancing technologies are making digital payments more accessible than ever before. But is it possible that the shift away from the use of cash-based payments...
Just a few months ago at PYMNTS’ Innovation Project 2016, PayPal CEO Dan Schulman told Karen Webster that “financial inclusion is really about financial health.” Acquiring that financial health means financial institutions are able to not only know, but accurately identify, their customers. But...
The question is not just if credit scores will change, but how much will they change, and in what situations are these fluctuations actually meaningful to lenders? For lenders specifically, the dynamic nature of consumer credit scores presents two very unique issues. First, it’s pretty...
With MasterCard’s announcement today of its partnership with World Vision, the company is moving forward in its quest to affect developmental and social outcomes in a commercially and operationally sustainable way. Tara Nathan, EVP, Public Private Partnerships at MasterCard, shares with MPD CEO Karen Webster...
Ten years ago, the three national credit bureaus got together to start a challenger to credit scoring’s dominant player. Out of that, VantageScore was born, and its new scoring model eventually gave 30 million-35 million consumers a score and access to credit. VantageScore President and...
Visa is expanding its footprint in the African continent with a new base in the Ivory Coast for serving the underbanked population in the region, the company announced. The operation, which is set to be launched out of a new office in the francophone country, will engage with...
While a number of infrastructural and operational obstacles had historically made cash-based digital transfers for developing regions a near impossibility, GiveDirectly is looking to change that. Its Co-Founder and Executive Chairman Michael Faye shares with MPD CEO Karen Webster what inspired the nonprofit, as well...
