Consumer interest in gift cards remains high, with 56% planning to purchase them for major life events and 38% preferring them as Christmas gifts over physical items.
Given consumer interest, multiple FIs and fintechs are partnering with technology providers to offer gift cards and drive consumer loyalty and engagement.
It seems like $1 trillion is the new hot number. Recently Zelle said that it is on track to reach the $1 trillion payment volume mark this year, and now Stripe says that it too has crossed the payment volume benchmark.
Stripe's annual letter shows that the company had a good year, from its payment volume rising by 25% to its success with startups through its Atlas product.
Ensuring bottom line growth is healthy and not “junk food” going into 2024 is a key priority of financial leaders.
Despite increased profitability high up on their agendas, many leaders are hardly optimistic about the economy changing for the better in the coming year.
Many small and new businesses are phasing out every year in the US. Although it can be argued that there are many reasons that may contribute to the failure of these businesses but inaccessibility to funding appears to be one of the root causes.
Bank of America is en route to creating a new narrative. To address these stumbling blocks and shine a light on diverse fintech founders, the Wall Street bank is devising an accelerator program called ‘Bank of America Breakthrough Lab’.
Nearly half of the businesses are trying to bring in new revenue by focusing on growing customers and investing in new product features.
Two-thirds of financial services businesses say the risk of economic slowdown has made them focus on improving their margins, shows a new Stripe report.