Younger Generations Insist on Paying Through Apps
For younger consumers who have grown up using apps to make purchases, in-app payment options are becoming a deal-breaker. Recent data shows that nearly two-thirds of Gen Z and millennial respondents say they’ll take their business elsewhere if in-app payments aren’t available. The study from NMI found that 70% of Gen Z respondents use an […]
Three in a Row: Credit Beats Debit
The ongoing race between credit and debit card issuers to claim the title for the most transactions carried out on their payment cards continues. In past years, credit and debit often flip-flopped in a close race. With an unstable economy plagued by inflation, interest rates, and now tariffs, it turns out that credit has dominated […]
Using the Card “Beyond” Payments to find the Holy Grail
The Friction vs. Fraud Dilemma It appears that the ‘holy grail’ in payment systems is to simultaneously reduce friction and fraud, offering a seamless authentication process that does not sacrifice security. Traditionally, a secure solution was often associated with complexity, adding user friction—something consumers tend to avoid. Similarly, reducing friction typically opened doors to increased […]
First-Party Fraud Now the Most Common Type of Fraud in the World
First-party has emerged as the most prevalent type of fraud worldwide. It accounted for more than a third of all reported fraud cases in 2024—an increase from 15% the year prior. According to The Calm Before the Storm?, a new study from Lexis-Nexis, this surge places it ahead of other major fraud types, including third-party […]
Square Aims to Move Upmarket with Handheld POS Device
Some of Square’s best-known products are accessories that turn phones into point-of-sale (POS) terminals. But its new device, Handheld, removes the phone from the equation. Roughly the size of a smartphone, Handheld features a built-in barcode scanner and camera. In addition to supporting traditional card payments and tap-to-pay, it also offers inventory management functions via […]
Playing Offense and Defense: Why Now Is the Time for Payments Modernization
Financial institutions have traditionally been risk-averse, relying on tried-and-tested products and services. However, transformative innovations—such as real-time payment rails, artificial intelligence (AI), ISO 20022 adoption, and increasing demands for cybersecurity and fraud management—along with a constantly shifting regulatory backdrop—are making it critical for organizations to adopt new technologies. In a recent Payments Journal podcast, Radha […]
How Many Debit Cards Do Most Consumers Have?
As debit cards continue to play a central role in everyday financial transactions, understanding how many cards consumers hold offers valuable insight into spending habits and banking preferences. With the rise of digital wallets, neobanks, and reward-linked checking accounts, many individuals now carry more than one debit card to manage different aspects of their finances. […]
Crypto Is Playing an Increasing Role in Cross-Border Payments
The Bank for International Settlements (BIS) found that bitcoin, Ether, and the leading stablecoins facilitated roughly $600 billion in cross-border payments in Q2 2024. The report highlighted that speculation and broader global financing trends are the main forces driving the use of digital assets. BIS also noted that Circle’s USDC and Tether’s USDT stablecoins—along with […]
Without Its Own Credit Card, World Market Turns to Affirm
World Market is partnering with Affirm to offer buy now, pay later plans at nearly 250 stores, as well as online. For the specialty retailer known for stylish furniture, home decor, and international food, the program will replace what many of its competitors already offer: a co-branded credit card. For a retailer without a store-branded […]
Boosting Revenue for Merchants by Optimizing Authorization Rates
A critical factor is often overlooked when focusing on improving the customer experience: ensuring payments go through successfully. A failed payment is more than simply a lost sale. It can lead to wider-scale revenue impacts and erode customer confidence over time. In a recent PaymentsJournal podcast, John Winstel, VP of Optimization Product at Worldpay, and […]