Mastercard’s Holiday Season Recap & 2023 Outlook: Key Trends and Insights
- 9 months 4 weeks ago
- Personal Finance
The 2022 holidays marked another positive season for retail, with consumers continuing to prioritize experiences over physical goods. U.S. retail sales (excluding automotive) increased by 7.6% YOY, according to Mastercard SpendingPulse™. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation. But what should retailers be considering as we move ahead in this uncertain... more
From G's and Ps to Interest and APR, Remitly Reveals the Most Confusing Financial Phrases, Potentially Costing Brits an Estimated £26 Billion During Their Lifetime
- 9 months 4 weeks ago
- Personal Finance
Navigating complex money terms and phrases commonly used in the UK can sometimes feel like decoding a secret language, and when it comes to avoiding money mistakes, checking a dictionary is just as valuable as checking your maths, as new research reveals that being caught out by confusing financial terms has potentially cost people in the UK an estimated £26 billion during their lifetime.
Moneyhub and Teradata Launch Financial AI at Scale to Revolutionise Customer Experiences
- 10 months 23 hours ago
- Personal Finance
Moneyhub, the market-leading data and payments platform today announces its partnership with Teradata, the global analytics and trusted data platform for AI with the aim of opening up more opportunities for consumer-facing organisations across the UK and EMEA.
In Singapore, Consumers Increasingly Choosing Digital Wallets Over Credit
- 10 months 6 days ago
- Personal Finance
Digital wallets are projected to be the most popular payment method in Singapore according to findings in the 2024 Global Payments Report from Worldpay, leading payments technology and solutions company. By 2027, wallets are projected to account nearly S$34 trillion in global transaction value, or 49% of e-commerce and point-of-sale (POS) sales combined. Singapore is expected to account for S$89 billion across POS and e-commerce.
GoHenry Launches Manifesto Urging Next Government to Improve Financial Education in Schools
- 10 months 1 week ago
- Personal Finance
GoHenry, the prepaid debit card and financial education app for 6-18-year olds, today announces the launch of its manifesto outlining how the next Government can improve the delivery of financial education in schools.
Pension Savers Call for Transparency and Accountability in AI Practices
- 10 months 1 week ago
- Personal Finance
Pension savers are concerned over the risks Artificial Intelligence (AI) developments by tech giants Alphabet (owner of Google), Meta (owner of Facebook), and Amazon - could pose to society, as well as a lack of online content moderation, a PensionBee survey has revealed.
Building Societies Rank Highest for Customer Satisfaction but Are Failing to Convert Customers as Neobanks Grow Market Share
- 10 months 1 week ago
- Personal Finance
Building Societies are failing to convert high customer satisfaction rates into expanding their customer base, and risk losing market share within the younger demographic to challenger and neobanks with superior digital offerings, according to a new report from Moneyhub. Younger generations show a marked preference for Open Banking and Open Finance enabled interactions and to secure a future, Building Societies must align their offerings with... more
UK Cost of Living Crisis Drives 118% Increase in Prepaid Card Use, With 1 in 4 Users Using Them To Avoid Debt
- 10 months 2 weeks ago
- Personal Finance
Despite Britain announcing last week that it is officially out of recession, Brits are increasingly turning to prepaid cards and adjusting their spending habits to manage the ongoing cost of living crisis and to avoid debt, according to a new survey conducted by research firm Opinium, commissioned by leading online prepaid payment firm Recharge.
One Third of Savers Expect to Save More This Year
- 10 months 2 weeks ago
- Personal Finance
Consumers are expecting to save more this year yet are unaware that the interest earned on their savings could result in being eligible to pay tax. Almost a third (31%) of savers are expecting to save more and almost half (44%) expect to save the same. However, according to the latest survey by NatWest, more than one in three (36%) do not know they may be eligible to pay tax on the interest earned on their savings.
Half of Brits Are Now More Wary of Online Banking, as Official Figures Reveal Steady Drop in Positivity Since 2020
- 10 months 3 weeks ago
- Personal Finance
Half of Brits are more wary of using online banking and banking apps now than they were 4 years ago, according to new research from personal finance comparison site finder.com. The most common reason for this decline in confidence was concern about online fraud when using these platforms, with over a third (35%) of UK adults citing this reason.
More Than Half of Parents Would Choose Their Child's Bank Based on Online Safety Education
- 10 months 3 weeks ago
- Personal Finance
A new study from CybSafe, the human risk management platform, found 56% of parents were more likely to sign their child up with a bank if the institution offered training about staying safe online.
CFPB Report Highlights Consumer Frustrations with Credit Card Rewards Programs
- 10 months 3 weeks ago
- Personal Finance
The Consumer Financial Protection Bureau (CFPB) issued a new report finding consumers encounter numerous problems with credit card rewards programs. Consumers tell the CFPB that rewards are often devalued or denied even after program terms are met. Credit card companies focus marketing efforts on rewards, like cash back and travel, instead of on low interest rates and fees. Consumers who carry revolving balances often pay far more in interest... more
Almost Half of Brits Now Leave the House Without Their Wallet, but Expert Warns of the Risks
- 10 months 4 weeks ago
- Personal Finance
New research reveals that almost 25 million Brits are leaving the house without a wallet or other payment method, relying solely on their phones.
CFPB Publishes Research Finding Higher Price Complexity Leads Consumers to Pay More
- 11 months 5 days ago
- Personal Finance
Today, the Consumer Financial Protection Bureau (CFPB) issued a new report that suggests consumers tend to pay more for products that have more complex pricing structures. The report is based on experiments with multiple rounds of buyers and sellers interacting in simple markets, and found that participants tended to pay more when prices were broken into sub-parts and were harder to understand.
Nubank and Mastercard Exclusive Study Reveals Path to Advancing Beyond Access Toward Financial Health
- 11 months 2 weeks ago
- Personal Finance
Today, Nubank and Mastercard released findings from a study measuring the financial inclusion impact on individuals, including some who have historically been on the margins of the traditional banking system in Brazil.1 The study provides a view of customers' experiences accessing and using financial solutions and tools, and the impact of those experiences on their ability to advance toward financial security and health.
