In researching PYMNTS Intelligence’s “Meeting the Demand for Instant Ad Hoc Payments,” a collaboration with Ingo Payments, we found the volume of instant, nonrecurring ad hoc payments has risen 28% since September 2023. This surge in instant ad hoc payments can be traced, in part, to...
You’ve heard of embedded finance. Get ready for embedded lending. It’s a relatively new term to describe an important trend in consumer financial behavior, and Visa is among the companies that believe it is poised to take off, if its partners can educate consumers about...
As the title of PYMNTS Intelligence’s most recent New Reality Check report, “The Paycheck-to-Paycheck Report: Why 60 Percent of Gen Z’s Live Paycheck to Paycheck,” makes clear, it’s tough out there for younger adults. Fifty-nine percent of Generation Z consumers tell PYMNTS Intelligence they now...
General-purpose credit cards dominate the consumer credit card landscape. In fact, about 2.5 times more consumers hold general-use credit cards than either co-branded credit or store cards, with substantially wider gaps among lower-income consumers and those in younger age groups. Moreover, cardholders who have both...
Consumers are becoming more cautious in their spending, Citi CEO Jane Fraser said Tuesday (April 30). Speaking at the bank’s annual meeting, Fraser told shareholders that while consumers remain “healthy and resilient,” they are also becoming “more discerning in their spending patterns,” Reuters reported Tuesday. Consumers are making small purchases,...
Digital platforms are transforming the personal finance landscape for renters by emphasizing the importance of leveraging nuanced insights derived from rental payment data, a facet traditionally excluded from credit scoring models. Among the firms driving this transformation is EasyKnock, a home equity solution platform, which recently...
BlackRock has debuted a savings product designed to give retirees a guaranteed, paycheck-style income. The asset management giant on Thursday (April 25) announced its LifePath Paycheck solution, which gives plan participants the option of accessing a guaranteed income as early as age 59 years and six months by...
Earnings season is less than two weeks old. By and large, the data and the press releases indicate that consumers are still spending, on experiences especially, and are using their cards to do so. But here and there, management commentary and some metrics on loans...
Unexpected expenses can pack a financial punch for any consumer, but for those who are already dealing with credit-related issues, the blow can be especially devastating. Take the credit marginalized, for instance: consumers who have been rejected for at least one credit product in the...
