February 21 – The U.S. person-to-person (P2P) payment market in 2016 has experienced dramatic growth with almost $500 billion in P2P transactions from a bank, non-bank or money transmitter service. This market will experience further expansion over the next year, as the number of consumers conducting at least one digital P2P transaction in the past 12 months increased in 2016.
February 9 – During the month of President Trump’s inauguration, confidence in the U.S. economy reached the highest levels in five years among small businesses and middle-market companies, reports Barlow Research.
February 9 – Malauzai Software, a provider of mobile and Internet banking SmartApps™ for community financial institutions, released its latest “Monkey Insights, Digital Banking Usage” providing significant trends and usage within the internet and mobile banking arenas from more than 415 U.S. financial institutions.
February 3 – Citi Retail Services and Sears Holdings have launched the Sears Mastercard with Shop Your Way, available today. With an industry-leading 5-3-2-1 rewards offer, customers can earn rewards points on all purchases everywhere they shop. The Sears Mastercard is powered by Citi Retail Services, one of the country’s largest and most experienced private label and cobrand credit card issuers.
By Toni Lapp, Senior Editor
This year marks the 50th anniversary of the automated teller machine, an invention that former Fed Chairman Paul Volcker once called “the most important financial innovation [that] really helps people and prevents visits to the bank.” (more…)
January 31 – The credit card market continued to gain steam in last year’s third quarter as the economy strengthened, according to the American Bankers Association’s latest Credit Card Market Monitor. On an annual basis, monthly purchase volumes rose between 6 and 9 percent across risk tiers (subprime, prime, and super-prime), consistent with a tightening labor market and rising consumption levels. (more…)
January 30 – Global spend via mobile wallets is expected to rise by nearly 32 percent this year to $1.35 trillion, a new study from Juniper Research has found.
January 30 – The U.S. Payments Forum has released its winter 2017 market snapshot, providing updates on the status of the U.S. EMV chip migration, 2017 priorities for accelerating merchant chip enablement and securing the card-not-present channel, and recently-released resources for the payments industry. The U.S. Payments Forum, a cross-industry body focused on deployment of new and emerging payments technologies in the U.S., has been the source for EMV implementation guidance since the start of the migration in 2012, and recently expanded its scope to support the introduction and implementation of additional new and emerging payment technologies.
January 27 – TD Bank, America’s Most Convenient Bank, in partnership with Cardtronics, recently branded 189 ATMs in Walgreens locations across Florida, specifically the Miami and Tampa–St. Petersburg metro areas, increasing its ATM population in the state by 96 percent. This provides TD Bank customers with added convenience and fee-free access to their cash in more places.
January 25 – The Office of the Comptroller of the Currency’s proposed fintech charter has drawn expressions of concern from a state regulator as well as two key banking industry trade associations. (more…)