Today In Data

Today In Data: Ridesharing, Employee Theft And American Spending

It seems individuals will always find a way to get the most out of things, be it expecting innovative technology that will solve their problems or understanding the long-term value involved in a hefty purchase price.

Today in PYMNTS’ data, employees have admitted to stealing billions of dollars from employers, biometric software with facial recognition is growing in proliferation, Americans are having trouble keeping money in their savings accounts, businesses are working with month-old data and millennials are actually opening new auto loans for car purchases — despite reports saying their generation would rather rideshare.

 

Here are the numbers:

$50 billion | Total amount of employee theft each year, according to a report from Statistic Brain published in September, in which 75 percent of surveyed employees admitted to having stolen from their employers at least once

$20 billion | Projected value of biometric software using facial recognition capabilities by the end of the decade, according to some estimates

57 percent | Percentage of Americans with less than $1,000 in their savings accounts, hardly enough to weather the financial shocks that may be felt through car accidents, sickness or unemployment

30 | Number of days in the average business accounting data cycle, meaning most numbers are a month old by the time they are analyzed, and business course corrections take longer to implement than they should

14.58 percent | Percentage of millennials who are opening new auto loans over a 12-month period, higher than Gen Xers at 12.09 percent, according to a recent report by TransUnion

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Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.

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