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Millennial-Focused Digital Bank Empower Finance Raises $20M

PYMNTS

San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. The Founder and CEO of Nubank David Velez also participated in the funding round. It offers a savings account with a 1.6

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Deep Dive: Keeping Up With Bridge Millennials’ Retail Impact

PYMNTS

Bridge millennials’ rise is changing the retail ecosystem ahead of the 2019 holiday season, but their impacts will continue to be felt in the year ahead. Bridge millennials are consumers aged 30 to 40 whose shopping and financial preferences straddle Gen X and millennial demographics.

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Why Millennials And Gen Z Could Save 2020's Holiday Shopping Season

PYMNTS

We see millennial and Gen Z customers absolutely shopping, and the brands that deeply understand them are growing at faster rates than they have ever grown before,” Molnar said. For example, Purity’s Kostick noted that his firm’s makeup sales have gone down, but its orders for skin care products have doubled. Consider Consumers’ Needs.

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OAK + FORT: Flexible-Payment Plans Boost Luxury Purchases

PYMNTS

Luxury retailers are also targeting millennial and Generation Z consumers to expand their customer bases, with one report showing that millennials accounted for 35 percent of high-end retail purchases, for example. Australia-based installment payment provider Afterpay , for example, has seen its revenues hit $3.8

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The Impact of Mobile Card Apps On FI Customer Retention

PYMNTS

Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion. And once a top of wallet is set, the card becomes invisible and changes very infrequently.”.

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Debit Beats Credit With Bridge Millennials

PYMNTS

Not willingly – unless you use a credit card at the POS terminal, that is, in which case you’ll pay the retail price plus 21 percent. Multitudes of Americans woke up and wised up to the true nature of credit after the Great Recession, driving a surge in the use of debit cards. Would you pay interest on a cup of coffee?

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Retail Data Shows Online Dominance, Gift Card Momentum For Holiday Spending

PYMNTS

Among those who said they would increase spend, about a third of millennials and Gen Xers said they would increase spending. A third of bridge millennials will increase their usage of mobile devices, more than any other segment. And when consumers do go online, gift cards are winning the season. percent will use a laptop or PC.

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