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Feb 22 Payments NEXT newsletter: consumer credit card protection, biometrics payments, weekly news roundup |
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Welcome to the Payments NEXT weekly newsletter. We’ve got a research report from CompareCards.com that says US consumers are still looking for more protection from high credit card interest rates and poor industry practices. We also look in detail at the challenges of biometrics payments, where the barriers are, and what business needs to look for as biometrics become more familiar and acceptable to consumers. Finally, we’ve got our popular weekly global payments news roundup for your weekend reading. |
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Consumers want more credit card protection
Ten years after President Barack Obama signed the Credit Card Accountability, Responsibility and Disclosure Act of 2009 (Credit CARD Act), research by CompareCards.com shows consumers want more credit card protection. The act provided key consumer protections. It limited banks’ ability to increase interest rates on existing credit card balances, required consumers under age 21 to have a co-signer or proof of income, restricted banks’ ability to charge overdraft fees, and increased disclosure requirements. Read more… |
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Biometrics drive the future of payments
Although using biometrics to make purchases is still far from the norm in North America, the practice is gaining ground quickly in other countries. In China, biometric payments have even become the norm for many retail events. Last year, Alibaba pulled in a staggering $30.8 billion on Singles’ Day, an amount bigger than Black Friday and Cyber Monday sales combined. In 2018, 60.3% of Singles’ Day customers paid by scanning their fingerprint or taking a selfie. Read more… |
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Feb 22 weekly global payments news roundup
Catch up on items on a new Goldman Sachs/Apple credit card partnership; Walmart e-commerce growth of 43%; why millennials aren’t interested in credit cards; revised lower 2018 US holiday retail sales growth of 2.9%, instead of 4.9%; the state of buy-online-pickup-in-store (BOPIS); DoorDash’s new $400 million fund raise and how it plans to disrupt the local delivery market; and much more. We’ve got you covered with payments news you can use. Read more…
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