paymentsjournal

VIDEO: How Long Do Consumers Hold on to a GPR Prepaid Card For?

– 58% of consumers won’t hold a general purpose reloadable card 5 months– 35% claim to have kept a card 6 months or longer– Per usual, lowest-income earners (24%) are most likely to hold for over a year“Its data relatively consistent with prior year’s levels – and points out that penetration of the core users […]

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The Zelle Argument

Some credit unions and also community banks are looking askance at some of the newer and faster payment solutions now launching. For person-to-person payments, there has been a vocal debate if Zelle is the right product for customers and members of smaller institutions.

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VIDEO: Where Are Consumers Redeeming Gift Cards?

– 33% at an online-only retailer– 21% at a mass merchandiser or discount retailer– 14% at department stores– 12% at fast food restaurants– 11% at coffee shops– 11% at apparel storesData for this episode of Truth In Data was provided by Mercator Advisory Group’s report – Consumers and Prepaid: Shifting Toward Digital.

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VIDEO: Do Consumers Prefer Mobile Apps or Plastic?

Mobile payment solutions work best when integrated into the overall user experience – specifically surrounding the ‘convenience’ and ‘immediacy’ desires. Mercator Advisory Group refers to this as, “lifestyle commerce,” and the current areas of opportunity include Mobile Order-Pay, Self Checkout, On-Demand Services, and E-Commerce.

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VIDEO: What Percent of Buyers Use Retail-Specific Prepaid Cards as Gifts?

39% of buyers give retail-specific gift cards as presents. But a lot – 28% – buy gift cards for the rewards. A similar number, 26% buy prepaid gift cards as a way to get a discount.

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VIDEO: When It Comes to Gifting Is Cash or Prepaid King?

Whether receiving funds as a gift, or just receiving funds generally, theres a steep and steady decline in consumers receiving funds on prepaid cards…

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VIDEO: 4 in 5 Mobile Payers Also Bought a Prepaid Card Last Year

Prepaid card purchasing took a dip in 2017 down to 56% of consumers having bought one in the last year – the same % as 2014. In 2015 and 2016, purchase volumes were on the rise: 61% and 63% respectively. The drop might be because of retail store closings like Kmart & Sears. Or the […]

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VIDEO: Are Young Adults More or Less Likely to Buy Prepaid Cards?

Young adults are more likely than average to buy prepaid cards but there’s a relatively serious decline underway in the number of 25-34 years olds buying prepaid cards. In 2016, 81% of 25-34 years olds had bought a prepaid card in the last year. Today, 66% of 25-34 year olds have bought a prepaid card […]

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Survey: Corporates Have Specific Payments Needs – And Banks Have the Opportunity to Meet Them

When it comes to business payments you may be thinking: As long as invoices are paid, does it really matter how it all happens? It actually matters very much- not all business payments processes are created equal. If you think about it in terms of a car, payments are like the fuel injection system of […]

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Wearables Can Become Good Payments Fit

The payments ring-don’t leave home without it. This might be a slightly recycled slogan by providers of wearable payment devices. As the following Wall Street Journal article describes, a payments ring is getting some attention in Australia.

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Highlights From the 2018 UK Payments Market Report

2017 was an exciting year for the UK payments market. According to a recent study conducted by UK Finance, 38.8 billion payments were made in the UK in 2017 with 85 of those payments going to what the study cause spontaneous purchases and the other 15 going towards regular bills and commitments.

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Real-Time Payments Climbs the Corporate Ladder

The first thing to remember is that ‘real-time’ payments is a subset of the overall faster payments category discussion of the past several years. Real-time means 24x7x365 availability, with clearing and settlement within seconds.

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