Bank Innovation

JANUARY 13, 2020

When [millennials and Gen […]. As retailers seek to increase customer purchase volumes through point-of-sale loans, PayPal is setting itself apart from competition through its brand recognition, the speed of its underwriting process and its relationships with hundreds of millions of consumers.

Millennials 259

Millennials Retail Branding Customer Experience 259

PYMNTS

APRIL 13, 2020

These individuals also expect faster payments in their day-to-day lives thanks to their interactions with peer-to-peer (P2P) payment apps. There has been similar growth in mobile disbursement interest in the business-to-business (B2B) space as well, especially as more millennial and Gen Z workers join firms’ staff.

Mobile 232

Mobile Innovation Millennials Payments 232

PYMNTS

APRIL 29, 2020

The April 2020 New Payment Flows edition of PYMNTS’ Credit Union Innovation Playbook series, a PSCU collaboration, looks into the credit union (CU) space at a pivotal moment: Many concepts, from eating to shopping to traveling and, of course, how we pay, have changed forever. CUs value innovation that benefits members.

Innovation 152

Innovation Payments Millennials Survey 152

PYMNTS

JANUARY 13, 2020

Millennials have long been sought-after travel and hospitality customers, partly because they are perfectly placed to seek such experiences. This unique status creates both opportunities and challenges for firms in the space, as millennials search for the experiences they crave. Furthermore, millennials are set to spend $1.4

Millennials 154

Millennials Branding Mobile Data 154

Bank Innovation

OCTOBER 28, 2016

Turns out even millennials don’t care that much about mobile payments. According to a report presented by the tech consultancy Accenture at Money20/20, the number of those of us in North America who use our mobile phones to pay at the point of sale hasn’t changed in the slightest since last year, Read More.

Millennials 150

Millennials Mobile Study Payments 150

PYMNTS

JANUARY 12, 2021

It also analyzes how these shifts could create more opportunities for nontraditional lenders, especially those that have embraced digital or instant payment methods. This increased familiarity with digital payments is still somewhat offset by recipients’ perceptions of whether lenders can fulfill these expectations, however.

Millennials 239

Millennials Payments Lending Study 239

PYMNTS

MARCH 2, 2020

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . According to the latest edition of the Innovation Readiness report, only 22.3

Innovation 222

Innovation Data System Mobile 222

PYMNTS

APRIL 9, 2019

Retail innovation labs – incubators or tech hubs – aren’t confined to operations run by the likes of Amazon or Walmart. A new lab store from 7-Eleven underscores the innovation wave that is taking place in the convenience store sector of retail – a sector ripe for change, disruption and growth. stores with the innovation.

Innovation 155

Innovation Millennials Dallas Retail 155

PYMNTS

AUGUST 23, 2019

These marketplaces also need to make sure that payments, however quick, remain safe and secure as fraudsters continue to hammer at the gates. Around the Payments And The Platform E conomy. An AI-Powered Visual Shopping Experience For Millennials, Gen Z. About the Payments And The Platform Economy Playbook.

Millennials 165

Millennials Trends Meeting social media 165

Bank Innovation

OCTOBER 1, 2018

A new report shows that millennials use Venmo more than they use ATMs as if there was any doubt that to this audience an app like Venmo is a prime method of payment. Rubiix, a social spending app that distributes advertising revenue among its users, released a report Friday showing ATM transactions among millennials have […].

Millennials 150

Millennials ATM Report Payments 150

Bank Innovation

MARCH 6, 2019

Generation X and baby boomers, not millennials, are driving adoption of P2P services like Zelle, according to a survey conducted by Early Warning Services, the network operator of the P2P service. The survey, titled "Digital Payments Adoption," found that 50% of first-time P2P users were age 45 and older.

Millennials 170

Millennials Survey Operations Report 170

PYMNTS

NOVEMBER 27, 2019

In addressing the innovation gap that exists between credit unions and their larger financial institution (FI) brethren, credit unions (CUs) may be perceived to be at a disadvantage, at least when it comes to dollars. That’s especially true as millennials come up through the ranks, and are both comfortable and confident in using technology.

Innovation 215

Innovation Millennials Technology Examples 215

PYMNTS

JANUARY 14, 2020

Things move fast – perhaps too quickly at times – in payments and commerce. For starters, Zelle ’s Q3 results showed that its year-over-year payment values increased by 58 percent, while transaction volumes rose by 73 percent. Payments Stickiness . Gen Z is growing up. million and 38.27

Innovation 160

Innovation Payments Millennials Cards 160

PYMNTS

AUGUST 26, 2019

Retailers looking to engage tech-savvy millennials and Gen Z consumers are quickly doubling down on their efforts to offer more visual content and enhance the discoverability of their products and services. A survey conducted last year found that 62 percent of millennials prefer visual search over other search methods.

Millennials 185

Millennials Retail Tools social media 185

Bank Innovation

FEBRUARY 12, 2018

Mobile banking has officially gone mainstream: 55% of U.S. adults have at least one full-service banking app on their phones now, according to a study conducted by BankRate. Additionally, those consumers with bank apps are active users, with 70% stating that they use their app at least once a week, the survey of 1,156 adults […].

Millennials 297

Millennials Study Survey Mobile 297

Bank Innovation

JANUARY 12, 2018

EXCLUSIVE—JPMorgan Chase will continue to expand its digital payment offerings in 2018, looking to acquisitions such as WePay to keep up its growth, bank CEO Jamie Dimon said during the bank’s earnings call today. The bank acquired both services last year, and will use them to expand both its consumer and business payments systems.

Millennials 255

Millennials System Payments Mobile 255

PYMNTS

JULY 15, 2020

Avid Modjtabai, Wells Fargo’s head of Payments, Virtual Solutions and Innovation, said at the time that “whether you are new to banking, don’t have regular paychecks or typically manage money with cash, we believe the Greenhouse experience can help you manage day-to-day spending while planning for the future.”. For instance, J.P.

Millennials 166

Millennials ATM Mobile Maine 166

PYMNTS

FEBRUARY 11, 2020

Reynolds Group Holdings is actively working to court the millennial market , which has a particularly strong focus on convenience. For this reason, the firm has focused keenly on recipe integration in recent years — and, as it turns out, millennials are excellent recipe followers.

Millennials 141

Millennials Groups Data Marketing 141

PYMNTS

MAY 26, 2020

The data on millennials’ lifetime earnings potential were already fairly grim long before the word “coronavirus” became part of everyone’s daily conversations – and before the U.S. A 2016 paper led by Stanford University Economist Raj Chetty found that millennials were in deeper economic trouble than a quick look at the U.S.

Millennials 153

Millennials Study Groups Survey 153

PYMNTS

DECEMBER 15, 2017

is a rally cry that would perk the ears of many millennials, but how about “ Mastercard , assemble?”. Assemble for millennials is a toolkit that issuers, corporations and IBCUs can use to enable digital financial solutions, in this case targeting millennials, using a single-access digital prepaid product. What Millennials Want.

Millennials 134

Millennials Management Cards Security 134

PYMNTS

DECEMBER 15, 2020

Debatably the most impactful payments innovation of recent years — and that’s saying something — BNPL is having a massive impact on retail, as evidenced by the proliferation of brands and the steady flow of venture capital to players that are defining the space. Bridge Millennials Crossing Over To BNPL. Like their love of BNPL.

Millennials 256

Millennials Report United States Study 256

Bank Innovation

OCTOBER 20, 2017

EXCLUSIVE— Is Zelle in trouble? PayPal’s third quarter earnings, specifically the quarterly results of its popular P2P app Venmo, seem to suggest that the answer is yes. The banks’ Venmo challenger is growing quite well, reporting just over $30 billion in transactions for the first half of 2017, but the app in question had a […].

Millennials 312

Millennials Report Online Mobile 312

PYMNTS

DECEMBER 24, 2020

It was a year in which consumers learned about new payment options and adopted them at a dramatic rate. As the year closes, PYMNTS calls out six payment methods that gained traction and attention, including a take from key executives in each category. percent of bridge millennials have used BNPL, close to double the average.

Payments 260

Payments Millennials Survey Trends 260

Bank Innovation

AUGUST 23, 2016

No matter what industry you’re in, the chance of success depends on the knowledge and insight you have regarding your customer base, which for both traditional banking institutions and fintech startups means focusing on millennials.

Millennials 150

Millennials Fintech Industry Online 150

Bank Innovation

MAY 8, 2017

Affirm, the lending startup that provides loans at the POS, is looking into launching everyday-use virtual credit cards, Bank Innovation has learned. The company, launched by a PayPal cofounder Max Levchin, provides point-of-sale loans that allow customers, particularly millennials, to finance purchases with participating merchants.

Cards 255

Cards Millennials Lending Innovation 255

PYMNTS

NOVEMBER 19, 2020

percent, state that most of their non-government payments come through non-instant methods and take more than a day to receive. Receivers, moreover, most likely do not monitor their accounts constantly and therefore have no way of knowing with certainty how fast the payments reach their accounts. Millennials come in second at 15.6

Payments 237

Payments Millennials Groups Survey 237

PYMNTS

JANUARY 10, 2020

They want convenient booking tools, fast payment methods and secure reservations when planning their trips, and these needs have not changed much as millennials have come of age. Competition is thus a multilevel event for hospitality services that need to juggle payment innovations, user perks and security.

Millennials 131

Millennials social media Mobile Payments 131

Bank Innovation

AUGUST 10, 2016

It’s not just millennial customers banks are adjusting to today — it’s millennial employees.

Millennials 150

Millennials Strategy Technology Online 150

Bank Innovation

JANUARY 20, 2017

11 survey from Accenture, millennial participants would consider parking their money with nontraditional institutions, and they picked winners. Amazon wins, once again, at a game it didn’t even know it was playing. According to a Jan.

Millennials 150

Millennials Google Apple Survey 150

PYMNTS

JUNE 24, 2019

Retailers are getting smarter about artificial intelligence (AI), and the latest example of that innovative effort comes from Walmart. Payments are also playing a role in retail AI efforts and goals. These are just some of the ways merchants are evolving to meet the commerce and payments needs of the modern-day connected consumer.

Retail 184

Retail Innovation Examples Online 184

PYMNTS

JULY 10, 2019

Product and eCommerce Innovation. Kohn said that he felt like Asian flavors were on trend after research, especially with millennial crowds and those in the demographic looking for out-of-the-box flavor profiles. Through the site, customers can pay with PayPal, Google Pay and card payments. The Meat Snack Market.

Innovation 140

Innovation Payments Millennials Retail 140

PYMNTS

MARCH 12, 2020

Checks are still a persistent part of the tax experience within the country, but tax firms and other supportive businesses have slowly, persistently, begun implementing digital disbursement tools to make payments easier. Innovation may not be progressing at the rate consumers may like, however. Only 24 percent of U.S.

Taxes 130

Taxes Millennials United States Innovation 130

PYMNTS

JANUARY 22, 2020

trillion in earnings in 2018, but many of these payments were sent out via frustratingly complex and slow payment methods. Paper checks are still one of the most popular ways for companies to pay freelancer workers, despite workers’ increasing desire for faster digital payments. What’s New In The Gig Economy Payment World.

Payments 195

Payments Millennials Innovation Trends 195

PYMNTS

DECEMBER 6, 2019

The growing significance of the gig economy is changing how businesses handle their payments. The Next-Gen Payments Report, a PYMNTS and American Express collaboration, examines how businesses are redesigning their AP and payroll to serve gig workers’ needs and stay current with a changing economy.

Tools 186

Tools Payments Millennials Strategy 186

PYMNTS

JULY 15, 2019

Of all the banking institutions releasing Q2 earnings this week, watch for JPMorgan, whose strong performance can be credited to a growing millennial customer base and continued digital innovation. Continued development of JPM Coin has garnered interest from customers around the world, especially millennials.

Innovation 139

Innovation Millennials Conference cryptocurrency 139

PYMNTS

DECEMBER 13, 2019

What this demographic wants out of peer-to-peer (P2P) marketplaces is changing, however, as more millennials become fully active members of the working world. Millennials are still spending money on trips and vacations, but how and where they do so is shifting. Millennials And Their Changing Travel And Payment Opinions.

Millennials 141

Millennials Payments Groups Mobile 141

Bank Innovation

MAY 11, 2017

Thanks to the likes of Venmo and (soon) Zelle, real-time, person-to-person payments are now an expectation for consumers. According to the bank’s Trends in Consumer Mobility Report released today, nearly two in five (36%) adults currently use person-to-person payments, with millennials nearly double that […].

Millennials 262

Millennials America Trends Mobile 262