29 July 2020

Weekly 10-Q: Is BNPL picking up steam while consumers struggle with credit card payments?

• Wall Street, Regions Financial, and MoneyLion have been slapped with heavy fines by U.S. regulators.
• BofA, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo have taken part in the Federal Reserve Board's pilot program on climate change commencing early 2023.

Daily Tearsheet: Credit cards earn higher satisfaction scores but lose share of spend to competitors, and Visa tops one billion transit transactions with contactless payments

Data Snack: Credit cards are earning higher satisfaction scores – but still losing share of spend to competitors

• Primary card share of spend has fallen to 42%, with customers shifting to novel alternatives like BNPL.
• Customer experience metrics like call center hold times indicate that issuers need to revisit critical stages in the customer journey to ensure loyalty in the face of competition.

Topping one billion transit transactions with contactless payments

• 45% of riders plan to use contactless credit/debit cards or mobile devices to pay for transit.
• Visa has powered more than one billion tap-to-pay transactions on public transit in ten months.

The Green Finance Podcast Ep. 10: Tangible steps banks can take to help their customers lower their carbon footprint

• The majority of people want to know more about the environmental impact of how they spend their money and want their banks to help them take action and reduce their environmental impact.
• I'm talking about this today with my guest Emma Kisby, UK & Europe CEO of Cogo - a company that provides carbon footprint management products.