Consumers facing job insecurity and COVID-19 stay-at-home orders are rethinking when and how they make payments, and FIs must respond. David Vélez, founder and CEO of Brazil-based digital-only FI Nubank, says that means offering credit-wary customers the right digital-banking tools and products. In this month’s...
The coronavirus pandemic has left consumers staying home when possible to stop the virus’s spread. It has also made them wary of taking on debt because their financial circumstances could change at any moment. These shifts have made digital banking and debit transactions more important...
U.S. shoppers made 72.7 billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. Consumers only see a small part of what is involved in using this method, however. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices...
Long checkout lines during peak hours result in nearly 11 percent of supermarket customers abandoning purchases. In this month’s Next-Gen Debit Tracker, Chief Business Officer Andrew Radlow of shopping technology provider Grabango discusses how debit-enabled, in-app payments can offer a grab-and-go shopping experience while allowing...
Debit cardholders often choose this payment method because it is more secure than carrying cash — which cannot be recovered if lost — and may safeguard them against spending more than they have, which is not the case with credit cards. Debit networks need to...
Employers that cannot quickly adjust their staffing levels to meet customer demand fluctuations and workers’ life shifts may find themselves in a bind. Retailers often need additional coverage during peak holiday shopping periods, hospitals may need substitutes for nurses on paternity leave and construction companies...
Biweekly direct deposit is losing its cha-ching with job seekers — more Gen Z candidates expect to access their earnings instantly via ready-to-use payment tools. But redesigning company processes to support those options is easier said than done. In this month’s Next-Gen Debit Tracker, ADP...
Businesses and governments want the speed and convenience of issuing and accepting digital payments, but, at the same time, they cannot afford to alienate cash-dependent consumers. Debit payments are being turned to as one way to thread that needle. The United States federal government issues...
Fraudsters have grown adept at finding debit cards’ weak points, and merchants are struggling to keep up. Losses due to false credit and debit card declines — in which merchants reject legitimate orders on the mistaken belief that they are fraudulent — grew to...
