Today in PYMNTS data, international students are getting new options to lease vehicles, merchants are turning to private label options to encourage customer loyalty and small and medium-sized businesses (SMBs) are creating jobs at record rates. Also, SMBs in the construction sector are having trouble getting paid, and companies across the country are improving cross-border interactions.
Here are the numbers:
1 million | Number of international students who travel to the U.S. for higher education opportunities annually, many of whom need a set of wheels during their stay. Swedish automaker Volvo is looking to reinvent the wheel for international students and their families by offering an International Student Program that aims to ease the pains associated with vehicle leasing.
165,000 | Total number of consumers private label debit payment and loyalty solutions provider ZipLine studied over a two-year timespan through its own payment and loyalty debit offerings at convenience stores. The company found that private label cards were a conduit to cemented relationships, with participants spending 35 percent more on fuel and other purchases with them.
68,000 | Number of jobs added in February by SMBs with 49 employees or fewer, according to human resources management software and services provider ADP’s employment report. That’s up from January’s 63,000 jobs and revised from previous calculations of 58,000. The stats add to more favorable news about U.S. hiring trends, with ADP revising December hiring from 93,000 to 99,000 new jobs.
66 percent | Portion of SMBs in the construction sector that are not paid within the standard 30-day timeframe, according to 2017 research from the Federation of Master Builders. In fact, nearly 25 percent said they typically wait more than four months to get paid by contractors.
58.1 | Average cross-border readiness score for U.S. businesses on a scale from zero to 100, according to PYMNTS’ 2017 X-Border Payments Optimization Index, a Braintree collaboration. The report highlights trends and offers insights into what top performers are doing differently to succeed in markets both close to and far from home.