Today is Tuesday, June 14 and margin calls are adding up amid the crypto market’s freefall, while bitcoin’s price is about two-thirds what it was last November. President Biden is in Brussels for the 31s NATO Summit, and the FAA reported that since January, there have been 2,900 incidents of disorderly passengers. Today is also Flag Day and the peak evening to catch the Strawberry Moon. Here’s what else should be on your radar this morning.
Pay Up. Plummeting values in the crypto market have triggered about $1 billion in margin calls as bitcoin prices hover around $22,411. The day trading frenzy during the pandemic pushed bitcoin’s prices close to $68,000 last November, and the overall cryptocurrency market has since lost 66% of its value. READ MORE
Moving On. Customers will drop a merchant and switch to another to avoid surcharges, according to the new report “Credit Card Surcharges: Consumer Experience and Choice,” a PYMNTS collaboration with Payroc. Nine out of 10 credit card users say they are reluctant to pay a surcharge but end up paying it anyway. READ MORE
No Surprises. The No Surprises Act of 2020 and the pending Medical Debt Relief Act are designed to make it easier for consumers to manage healthcare payments and could result in accurate estimates for procedures. Experian Health Vice President of Product Management Victoria Dames told PYMNTS that the healthcare sector still has work to do if it wants to keep medical debt from becoming more of a problem. READ MORE
Forecasting Innovation. Companies are finding it harder to forecast cash flow following the disruptions from the pandemic, changing consumer behavior, supply chain issues and soaring inflation. Greg Kerwick, head of client solutioning for J.P. Morgan Chase’s Commercial Banking business, told PYMNTS’ Karen Webster that the right technologies, tools and data bring cash flow forecasting fully into the digital age. READ MORE
ICYMI. People are dropping favorite brands in favor of lower-priced store brands and other white-label products. Consumers also spent less money on groceries between March and April, according to PYMNTS’ Digital Economy Payments study, “Digital Economy Payments: How Consumers Pay in the Digital World.” READ MORE
