Discover Financial Services posted earnings results on Thursday morning (Jan. 23) that indicated improving credit quality metrics tied to its credit cards, as well as an outlook that includes loan growth and a “stable” consumer. During the conference call with analysts — where there was...
Among the messages conveyed so far in the continuing cavalcade of earnings reports — especially from banks — is that consumer spending is buoyant, a trend in evidence from the last few months of the year. PYMNTS Intelligence documented that through 2024, most consumers made...
Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal, announced in a news release Wednesday (Jan. 22), will see CardWorks and its subsidiary Merrick Bank acquire Ally’s credit card portfolio of $2.3 billion in credit card receivables and 1.3 million active cardholders. “Ally’s decision...
Conventional wisdom is that younger generations are tech-savvy and the most willing to try new devices, apps and payment methods. However, PYMNTS Intelligence research from the How People Pay Report, titled “eCommerce for All: How Consumers Across Generations Make Purchases Online,” found that any generation...
January 22, 2025
Conventional wisdom is that younger generations are tech-savvy and the most willing to try new devices, apps and payment methods. However, PYMNTS Intelligence research from the How People Pay Report, titled “eCommerce for All: How Consumers Across Generations Make Purchases Online,” found that any generation gap is rapidly closing when it comes to commerce, in […]
January 21, 2025
When consumers are selecting an online store at which to make a purchase, free shipping is the offering that is most commonly on their checklist. Free shipping is an online...
January 15, 2025
J.P. Morgan Chase’s fourth-quarter earnings results showed continued momentum in consumer spending, with increased credit and debit card use. Consumers also drew down their deposit account balances. “The U.S. economy...
January 15, 2025
For banks and credit unions looking to modernize, the timing has never been better. “Banks want to offer more competitive products, increase profitability and, critically, own the customer experience —...
January 22, 2025
Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal, announced in a news release Wednesday (Jan. 22), will see CardWorks and its subsidiary Merrick Bank acquire Ally’s credit card portfolio of $2.3 billion in credit card receivables and 1.3 million active cardholders. “Ally’s decision to sell its credit card business is part of our […]
January 16, 2025
American Express said Thursday (Jan. 16) that it expects to pay $230 million to settle previously disclosed investigations by the U.S. Department of Justice and the Federal Reserve. The company...
January 16, 2025
Synchrony is giving certain customers access to the Pay Later feature of Apple Pay. The offering lets customers pay according to the standard terms of their credit card or use...
January 15, 2025
Goldman Sachs’ partnership with Apple that manages the Apple Card may end before 2030, Goldman Sachs CEO David Solomon said Wednesday (Jan. 15). “We have a contract with Apple to...
