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Consumers tap credit cards, loans to manage inflation: Fed report

Payments Dive

Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.

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Millennials Will Lead The Voice Commerce Revolution

PYMNTS

And to help manage their commerce command systems, consumers are increasingly turning to voice assistants to act as their in-house concierges. That’s especially true for bridge millennials, those 32- to 42-year-olds, entering the prime time of their spending years. Why The Surge In Popularity? Some of the reason is purely demographic.

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Mastercard Opens ‘Assemble,’ New Money Management Platform for Millennials

Bank Innovation

Global payments technology company Mastercard is opening a new platform aimed at the financial management needs of the millennial generation, the company announced today.

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Robo-Advising on the Rise Among Full-Service Millennials

Bank Innovation

One fourth of full-service millennial investors have either tried, or are actively using, a robo-advisory platform, according to a new study by J.D. The study suggests that millennials have now accumulated enough wealth to be in the “sweet spot” for engaging a wealth manager.

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PayPal Remains Most Popular ‘Innovative’ Banking Product for Millennials

Bank Innovation

Most millennials—more than 90%—have used or are using PayPal currently, according to the Millennial Money survey released last week by Vested. Still working on that Venmo-killer app? It might be a better idea to focus on its parent company. Other “innovative” banking products (i.e.,

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Millennials Want to Invest with Social Responsibility, But Have Yet to Start

Bank Innovation

Social investing is a popular concept among millennials looking to invest, but many of this generation’s investors have yet to start such invest in a “socially responsible” manner, according to a study by Swell Investing.

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By 2030 Millennials Will Have $20 Trillion In Wealth. Here’s What They Want In Robo-Advisors

Bank Innovation

Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Currently, millennials’ combined financial assets come up to $4.5 Marketing investment options and robo-advisors to this mobile-centric group will require a specific strategy. trillion in wealth.