In today’s top news, U.S. credit card debt fell to its lowest level since 2017, and Robinhood plans to go public on Nasdaq. Plus, Instacart is mulling a direct listing, rather than an initial public offering (IPO).
Consumer Credit Card Debt Hits Lowest Point Since 2017
Consumer credit card debt in the U.S. dropped $1.3 billion in January to its lowest point since 2017. The decline in credit card borrowing offset overall borrowing gains in vehicle and student loans.
Report: Robinhood IPO Is Headed For Nasdaq
Stock trading app Robinhood plans go public on the Nasdaq exchange. The app soared to popularity during the pandemic as homebound young users embraced its low trading costs and game-like interface. It’s unclear whether Robinhood will conduct a traditional IPO or go public via a direct listing.
Instacart Eyes Direct Listing To Maximize Stock Price
Instacart is mulling the idea of going public through a direct listing, rather than an IPO. The company would choose a direct listing to avoid losing money if it prices its IPO too low.
Mastercard Nets Deal Sets Stage For Account-To-Account Payments
Mastercard said it has completed the acquisition of Nets A2A business. The deal paves the way for faster payments, done directly between accounts, for consumers and businesses alike.
Digital Intermediaries Threaten The Payments Status Quo
Digital first is disrupting pretty much every industry and has the potential to upend traditional firms — even the traditional payments industry, Karen Webster says. New tech, new payments options and the rise of real time could disrupt existing profit pools as digital intermediaries strengthen their consumer and merchant networks. Scale in a digital world happens a lot faster than it did when there was only physical.
PayPal’s Magats: 2021 Is The Year Of Three-Dimensional Commerce
A look back at the 2020 holiday shopping season shows the expected consumer shift to the digital-first economy. But as PayPal Senior Vice President of Omni Payments Jim Magats told Karen Webster in a recent conversation, that shift also previews what’s to come in 2021: commerce as a three-dimensional experience.
Buyers Get Paid To Keep Returns Amid eCommerce Surge
The eCommerce deluge has also given rise to waves of online returns. Some merchants are offering discounts for consumers to keep what they don’t want — effectively paying them to not send it back. Here’s why that may make economic sense for everyone, saving time and money.
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