Subprime consumers continue paying their credit cards even as many struggle to cover everyday bills. PYMNTS Intelligence’s May report, “Who Is the Subprime Consumer? A Behavioral Profile,” found that 55% of subprime consumers lived paycheck to paycheck with difficulty paying bills in January. The comparable...
Online lender Enova saw its revenue exceed $1 billion during a quarter for the first time in its history in the third quarter, with strong growth across its portfolio, CEO Steve Cunningham said Thursday (Oct. 22) during an earnings call. “We are pleased to report...
Grocery shoppers under financial pressure are spending more per purchase, giving retailers an opportunity to help households manage bigger bills with more flexible ways to shop and pay. That’s a central finding of “The New Checkout: Crimped Consumers Lean Into Online Retail and Digital Wallets,”...
Consumers have kept the economy moving without a boost in confidence about where it is headed. The Federal Reserve’s October Beige Book, released Wednesday (Oct. 14), found economic activity increased in nine of its 12 districts, but consumer spending showed less momentum, depending on where...
Merchants could keep more ready buyers at checkout by accepting the digital wallets those shoppers already use, with wallet gaps putting roughly 36 million U.S. consumers at risk of walking away. That finding comes from “The Hidden Cost of Checkout Gaps: What 56 Million Abandoned...
American shoppers are giving retailers a reason to rethink how they attract customers: The payment methods a store accepts increasingly help determine whether they’ll shop there in the first place. That gives merchants a practical opening to compete before checkout begins. Accepting a customer’s preferred...
Americans facing higher bills are taking three different approaches to their paychecks, and the largest group is still holding spending steady or increasing it. That finding helps businesses avoid treating every stretched household as a consumer preparing to stop buying. PYMNTS Intelligence’s “The Fragmented Paycheck:...
The monthly, weekly or even annual bill is among the interactions a service provider is virtually guaranteed to have with a customer again and again. Yet consumers give the experience mediocre marks. PYMNTS Intelligence’s “The Service Commerce Performance Gap,” produced in collaboration with Paymentus and...
American consumer spending remains undaunted by inflation, though it is requiring people to grow more resourceful. That’s according to a report Saturday (Oct. 3) by Bloomberg News, which said these resources include accessing their home equity, using food banks to save money for other purchases,...