Monday, December 23, 2024

Consumers and Small Businesses Still Grapple with Persistent Check Fraud

2024-04-09 14:00:00  |  banking consumers small business 

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Many U.K. Consumers Struggling With Credit Card Debt

2022-09-22  |  consumers economy 

... e buy on credit because of their current worries. Consumers still rely on credit and are aware of what they want from their credit cards. Refund protection on purchases (42%), fraud protection (39%), and the opportunity to make purchases without having to wait for payment (37%) were listed as the three most important advantages of credit cards.Source: Marqeta ...

Boomers Prefer Credit Cards Over Debit Cards

2022-05-05 12:00:00  |  consumers payments 

... it card alerts, 70% getting credit card alerts and 63% of those receiving alerts say an alert has stopped fraud. Digital and Physical Cards Will Co-Exist Digital card options are gaining interest, yet consumers are not ready to leave their physical cards completely behind as 43% of debit card users would opt to use mobile debit. This is a marked rise from 25% in 2018. Even so, 68% still want a physical debit card too — with the most common reasons being if their phone is lost or stolen (61%), stops working (56%) or a store does not accept payments via smartphone (50%). Consumers als...

Gen Z Wants Credit Perks but Leery of Debt

2021-10-21 12:00:10  |  credit demographics 

... account if they expect fraud, and more than three in four (76%) want two-step authentication for the payment methods they use. "Our study depicts a cautious, responsible and choice-driven Gen Z consumer – but one whose needs are not fully being met by traditional credit and other payment options," said Val Greer, EVP and chief commercial officer, Alliance Data. "With $143 billion in buying power, retailers can open the door to this group which in 10 years is projected to have more buying power than millennials and baby boomers combined, by diversifying payment choice that inc...

In-Person Banking Fading

2021-04-21 12:00:00  |  banking 

...  open, the vast majority of consumers across North America are happy for their banks to use biometrics such as facial scan, fingerprint and/or voiceprint to protect them. The survey found that 76 percent of Americans and 74 percent of Canadians would be happy to do this, with over 40% (U.S. 42%, Canada 45%) even expecting biometric account logins to be set as part of the account opening process. People Need to Develop a Skillset to Use Apps to Open Financial Accounts The survey also found that when consumers are asked to move out of channel to prove their identities, for example by mailing ...

Pandemic Accelerates Changes In Banking Behavior

2021-04-15 12:00:05  |  banking 

... and efficiently.” Only 63% of Boomers+ feel their primary financial services provider will protect them from fraud and identify theft, which is the lowest among the generations. “Ensuring a continued understanding of generational banking preferences will remain pivotal for financial services leaders as they build the appropriate strategies to prioritize products and services for their customers,” said Karl Dahlgren, managing director at BAI. “By recognizing these behaviors, financial services leaders can best serve their customers, and use these insights to better predict fut...

Young Adults and Adults Over 75 Most Vulnerable to Fraud Attacks

2021-02-23  |  fraud cyber 

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Contactless Payments Are Here to Stay

2021-01-12 11:01:00  |  payments 

...  credit card clean, making them the most likely of all markets surveyed to do so. Source: Visa Inc. ...

Millennials and Gen Xers Shaping the Future of Financial Planning

2020-08-28 09:17:32  |  financial planning 

... ons and engage in a more transparent, holistic approach to financial and future planning. An emerging area of concern for financial clients are topics related to identity theft and fraud. This is especially relevant for older clients (ages 61-75) who say this is a top concern yet who are least likely to have had a related conversation with their advisor (only 30%). Physical health was also listed as a top concern; however, more than half (57%) say they have not discussed it with their advisor. Younger respondents (ages 30-45) are more likely to have discussed physical health with their ...