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It's already holidays? Many still pay the accumulated credit card debt last year
Black Friday is fast approaching, but many Americans are still paying off the credit card debt they 've accumulated during last year' s holiday. Of the buyers who billed their holiday gifts in 2017, more than one in four still pay for purchases made with their credit cards while they head for another holiday season, according to a survey of personal finance website NerdWallet quoted by United States today. Buyers still do not pay their credit cards, 73% of them saying they intend to use a credit card to buy gifts this year, up from 58% in 2017. [USA Today]
Many consumers still pay their credit card bills last year (Getty)Getty
Mastercard Transit Solutions Launches Mode of Transport & Tap & Ride & # 39;
Mastercard strives to simplify daily travel with its "Tap and Ride" program, available in more than 150 cities. A new global study shows that metro networks around the world carry nearly 170 million passengers a day. Improving the speed and reliability of transit services is a major concern for most city dwellers. Mastercard Transit Solutions offers cities a contactless or mobile payment option to provide a better experience for cyclists. Not only do commuters lose more time queuing at the ticket counter or putting the bus off, but the service is also able to reduce the cost of collecting fares. at least 30%. [PYMNTS]
People who use mobile Fintech apps tend to make worse financial decisions
A US study of mobile payment using Generation Y (18-34) found that they were less likely to have financial skills than those of the same age who do not pay for their devices. They were also more likely to make other bad financial decisions, such as overpayments, credit card fees, loans from payday lenders, or pre-payments on their retirement accounts. [Quartz]
Wells Fargo customers accept their bank and subscribe to their new credit card
Wells Fargo consumers appear to be alongside the bank, which has been hit by a number of scandals in recent years, including the creation of 3.5 million fake accounts that use unintentional customer names. Wells Fargo said the number of primary control customers increased 1.7% from a year ago, a modest but notable increase given the bad news that continues to plague the company. The number of customers using digital, mobile and online platforms, has increased by 4% over last year and credit card and credit purchases have also increased. [Yahoo Finance]
China offers American Express a first blow to its huge payments market
American Express has just become the first US credit card company to get the green light for setting up its own payment network in China. The company said the Chinese central bank had given it preliminary approval to process payments in yuan. AmEx can now begin to set up the payment network via a joint venture with LianLian Group, its Chinese partner. In all other markets around the world, AmEx processes transactions through its own network. But in China, they have been treated by the state-controlled payments giant, China UnionPay. [CNN]
Walmart Continues Synchrony for $ 800 Million in Card Sharing
Walmart's divorce with credit card issuer Synchrony Financial continues in the courts as negotiations over whether multi-billion dollar balances are transferred to the retailer's new partner, Capital One, fail. Walmart requested a jury trial and said he was claiming damages of at least $ 800 million. He accused the lender of violating their agreement regarding credit cards issued to Walmart buyers. Synchrony broke an "implied promise" not to interfere with Walmart's ability "to receive the fruits of the contract," the retailer said in its complaint. [Bloomberg]
New Gold Business Card AmEx Tailors Rewards to Expenses
American Express becomes personal with its latest credit card for small businesses. The American Express Gold Business Card, with an annual fee of $ 295, will automatically change the bonus categories of the cardholders each month based on their spending habits. The new Metal Card earns four Membership Rewards points per dollar spent in two of the six categories cardholders spend the most on each billing cycle. The card also offers a 25% airline bonus on eligible airline ticket purchases booked via American Express Travel, up to 250,000 return points per calendar year, with no transaction fees at the same time. 39; abroad. [NerdWallet]
US credit card debt: blocked and charged to $ 1 trillion
The credit card business is doing well, with the latest Fed figures showing a 3.65% charge reduction. It is indeed 11bp worse than 2Q17, but it's 1bp better than the previous quarter. The big banks are doing very well and generating numbers with their portfolios. The load off performance of the top 100 banks closed the 2Q18 at 3.56%, but for those not in the top 100, the measure is 7.78%. In simple terms, the write-offs of small credit card issuers are twice as high as those of large issuers. The big banks are at 2.41% for offenders over 60; small banks are almost three times higher, at 6.15%. [Payments Journal]
Why repayments take so long to credit, debit cards
Merchants do not have as much incentive to process a refund as to process a purchase that would put money in their pockets. Another reason: when you make a purchase and your card is scanned, it sends a temporary authorization or keeps it to your bank. The transaction will appear almost immediately as a "pending" transaction. But the transaction that has been authorized does not take place completely for perhaps one, two or three days. With a refund, there is no temporary authorization that appears and must be completed. It's all a transaction. And this happens within two or three days of the trader's initiation. [Cleveland Plain Dealer]
4 tips to succeed your mobile holiday apps strategy
A recent study by Coupofy.com found that mobile commerce now accounts for 30% of total spending on e-commerce and that mobile commerce is up 300% faster than traditional e-commerce. In addition, Criteo reports that 66% of mobile transactions are via an app. Here are four tips that retailers can follow to make sure their mobile experience is ready for the holiday rush. [Retail Customer Experience]
Supplied by LowCards.com
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It's already holidays? Many still pay the accumulated credit card debt last year
Black Friday is fast approaching, but many Americans are still paying off the credit card debt they 've accumulated during last year' s holiday. Of the buyers who billed their holiday gifts in 2017, more than one in four still pay for purchases made with their credit cards while they head for another holiday season, according to a survey of personal finance website NerdWallet quoted by United States today. Buyers still do not pay their credit cards, 73% of them saying they intend to use a credit card to buy gifts this year, up from 58% in 2017. [USA Today]
Many consumers still pay their credit card bills last year (Getty)Getty
Mastercard Transit Solutions Launches Mode of Transport & Tap & Ride & # 39;
Mastercard strives to simplify daily travel with its "Tap and Ride" program, available in more than 150 cities. A new global study shows that metro networks around the world carry nearly 170 million passengers a day. Improving the speed and reliability of transit services is a major concern for most city dwellers. Mastercard Transit Solutions offers cities a contactless or mobile payment option to provide a better experience for cyclists. Not only do commuters lose more time queuing at the ticket counter or putting the bus off, but the service is also able to reduce the cost of collecting fares. at least 30%. [PYMNTS]
People who use mobile Fintech apps tend to make worse financial decisions
A US study of mobile payment using Generation Y (18-34) found that they were less likely to have financial skills than those of the same age who do not pay for their devices. They were also more likely to make other bad financial decisions, such as overpayments, credit card fees, loans from payday lenders, or pre-payments on their retirement accounts. [Quartz]
Wells Fargo customers accept their bank and subscribe to their new credit card
Wells Fargo consumers appear to be alongside the bank, which has been hit by a number of scandals in recent years, including the creation of 3.5 million fake accounts that use unintentional customer names. Wells Fargo said the number of primary control customers increased 1.7% from a year ago, a modest but notable increase given the bad news that continues to plague the company. The number of customers using digital, mobile and online platforms, has increased by 4% over last year and credit card and credit purchases have also increased. [Yahoo Finance]
China offers American Express a first blow to its huge payments market
American Express has just become the first US credit card company to get the green light for setting up its own payment network in China. The company said the Chinese central bank had given it preliminary approval to process payments in yuan. AmEx can now begin to set up the payment network via a joint venture with LianLian Group, its Chinese partner. In all other markets around the world, AmEx processes transactions through its own network. But in China, they have been treated by the state-controlled payments giant, China UnionPay. [CNN]
Walmart Continues Synchrony for $ 800 Million in Card Sharing
Walmart's divorce with credit card issuer Synchrony Financial continues in the courts as negotiations over whether multi-billion dollar balances are transferred to the retailer's new partner, Capital One, fail. Walmart requested a jury trial and said he was claiming damages of at least $ 800 million. He accused the lender of violating their agreement regarding credit cards issued to Walmart buyers. Synchrony broke an "implied promise" not to interfere with Walmart's ability "to receive the fruits of the contract," the retailer said in its complaint. [Bloomberg]
New Gold Business Card AmEx Tailors Rewards to Expenses
American Express becomes personal with its latest credit card for small businesses. The American Express Gold Business Card, with an annual fee of $ 295, will automatically change the bonus categories of the cardholders each month based on their spending habits. The new Metal Card earns four Membership Rewards points per dollar spent in two of the six categories cardholders spend the most on each billing cycle. The card also offers a 25% airline bonus on eligible airline ticket purchases booked via American Express Travel, up to 250,000 return points per calendar year, with no transaction fees at the same time. 39; abroad. [NerdWallet]
US credit card debt: blocked and charged to $ 1 trillion
The credit card business is doing well, with the latest Fed figures showing a 3.65% charge reduction. It is indeed 11bp worse than 2Q17, but it's 1bp better than the previous quarter. The big banks are doing very well and generating numbers with their portfolios. The load off performance of the top 100 banks closed the 2Q18 at 3.56%, but for those not in the top 100, the measure is 7.78%. In simple terms, the write-offs of small credit card issuers are twice as high as those of large issuers. The big banks are at 2.41% for offenders over 60; small banks are almost three times higher, at 6.15%. [Payments Journal]
Why repayments take so long to credit, debit cards
Merchants do not have as much incentive to process a refund as to process a purchase that would put money in their pockets. Another reason: when you make a purchase and your card is scanned, it sends a temporary authorization or keeps it to your bank. The transaction will appear almost immediately as a "pending" transaction. But the transaction that has been authorized does not take place completely for perhaps one, two or three days. With a refund, there is no temporary authorization that appears and must be completed. It's all a transaction. And this happens within two or three days of the trader's initiation. [Cleveland Plain Dealer]
4 tips to succeed your mobile holiday apps strategy
A recent study by Coupofy.com found that mobile commerce now accounts for 30% of total spending on e-commerce and that mobile commerce is up 300% faster than traditional e-commerce. In addition, Criteo reports that 66% of mobile transactions are via an app. Here are four tips that retailers can follow to make sure their mobile experience is ready for the holiday rush. [Retail Customer Experience]
Supplied by LowCards.com
