Bank earnings continue to show credit remains a key payments choice. U.S. Bancorp’s earnings, released Wednesday (July 17) indicated that within the company’s payment services segment, credit card payment volumes came in at $36.5 billion, up 4.6% year on year. The average loan balance, overall,...
In today’s uncertain environment, consumers want one thing: choice. That’s because macroeconomic uncertainty over inflation and interest rates is rocking consumer behavior and affecting big-ticket spend across verticals like home, auto and more, leading consumers to scale back on nonessential retail purchases. But as Synchrony...
As consumers continue to face financial pressures, many are shifting away from credit payments for retail purchases, instead playing it safe with debit. By the Numbers A PYMNTS Intelligence study in April for the Last Transaction Report series surveyed 1,730 United States consumers who bought...
PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to high commercial nonperforming loans and higher commercial real estate (CRE) net loan charge-offs, the bank said in a Tuesday (July...
July 01, 2024
Macroeconomic uncertainty over inflation and interest rates is affecting big-ticket items and leading to shifts among consumers. More homeowners — who have opted not to buy a new residence due to high mortgage rates and home prices — are sprucing up their properties and remodeling. More car owners, faced similarly with inflation, are keeping their […]
June 27, 2024
As consumers look for ways to make ends meet, many of those who do not have a financial safety net are forced to carry their credit card balances over to...
June 26, 2024
Merchant steering, which is a practice where retailers offer discounts to consumers if they use certain payment methods, could be getting eclipsed by surcharges and tipflation. The PYMNTS Intelligence report...
June 25, 2024
July Fourth is just around the corner and, if you haven’t already done so, there is still time to make last-minute travel plans. But be warned: about half of Americans...
July 16, 2024
PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to high commercial nonperforming loans and higher commercial real estate (CRE) net loan charge-offs, the bank said in a Tuesday (July 16) earnings release. “The credit environment continues to play out […]
July 12, 2024
Expedia Group said Friday (July 12) that it will launch two new co-branded credit cards designed to complement its loyalty program, One Key. The new cards — the One Key...
July 12, 2024
British consumers have more complaints about the banking sector across the board than they did a year ago. Complaints about the sector reached their highest level in at least a...
July 11, 2024
J.P. Morgan Chase is reportedly enhancing its competitive capabilities to remain the biggest bank in the United States. The bank is modernizing its infrastructure and data and using artificial intelligence...
