Today In Data

Rules Were Made To Be Broken, Or At Least Rewritten

There are some things that happened so predictably they became like laws. Transistor density on microchips doubled every year and a half, so we started calling it Moore’s law, until it started slowing down. SNAP (the Supplemental Nutrition Assistance Program, colloquially known as food stamps) customers are easily assumed to be digital outsiders, but Propel is rewriting that rule. Mobile wallets seemed in need of igniting, but are actually expanding by nearly a third between 2017-2019; and though cards are often written off, they’re expanding quickly as well. Currency, once tricky to access in certain volatile markets, is even becoming accessible for anyone, anywhere — with the right digital connection points. New worlds need new rules, and we are watching the playbook get written in real time.

40 million: The number of Americans receiving aid through the Supplemental Nutrition Assistance Program (SNAP).

18 months: The amount of time it takes the number of transistors per square inch on integrated chips to double.

40 percent: The projected increase in merchant outlets accepting card payments from 2016 to 2022.

30 percent: The projected worldwide increase in consumers using mobile wallets from 2017-2019.

4,500: The number of transactions AirTM processes per day.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.