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CFPB Financial Well-Being Report Underscores Industry Opportunity

More than 40 percent of U.S. adults struggle to make ends meet, according to new data from the CFPB. While not great news on its own, the findings could help financial services providers design products directed at improving financial well-being.


Common Cents Lab Unveils Millennial Financial Regret Spending Report

If you’re trying to cater to millennials, you need to understand how they think and feel about money. Common Cents Lab, a financial research lab at Duke University supported by MetLife Foundation, has released its first ever Millennial Regret Spending Report, which can help companies do just that.


Report: Mobile Wallets Reach ‘Tipping Point’

This week Apple Pay celebrated its third birthday, and ACI Worldwide and Aite Group released data on rising mobile wallet usage, indicating that consumers in the U.S. and Europe are starting to catch up with those in Asia and Latin America where mobile wallets dominate.


Juniper Predicts Major Global Shift to Contactless on Heels of U.S. EMV Push

A new study from Juniper Research is forecasting that more than half (53 percent) of global transactions at the point of sale will be contactless within five years, compared with just 15 percent this year.


Mobile Contactless Hits £370 Million in U.K. in H1 2017

Mobile contactless transactions in the U.K. topped £370 million (US$476 million) in the first six months of 2017, a whopping 336 percent year-on-year increase, according to the latest transaction data from payments processor Worldpay. (Infographic included.)


Infographic: 58 Insane Facts about Bitcoin

Did you know that bitcoin’s value has multiplied 879,999 times since 2010, and the FBI owns 1.5 percent of the world’s bitcoin? Read all 58 “insane facts” about the 10-year-old cryptocurrency in this blockbuster infographic. 


Banks Look to Immediate Payments to Drive Revenue

Banks are investing in immediate payments to drive revenue, while focusing their IT investments on fraud prevention and operational efficiency, according to new benchmark data from ACI Worldwide and London-based consultancy Ovum.


Fed Payments Study: Noncash Payments Soar amid Check Decline

Consumers wrote nearly two-thirds fewer checks per household in 2015 than in 2000, while total noncash payments per household, which includes checks, card payments and electronic transfers via ACH, expanded almost 95 percent, according to additional results released June 30 from the “2016 Federal Reserve Payments Study.” While the numbers are encouraging to those facilitating electronic payments, prepaid providers have some work to do to gain market share. 


P2P Is Gaining Steam, but Security Concerns Remain

Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.


Study: Americans Uneasy about Finances Provide Opportunity for Financial Service Providers

One-fourth of Americans say they have too much debt, with 96 percent of them reporting they are financially stressed, according to a survey by the Center for Financial Services Innovation to gauge Americans’ financial well-being. While those statistics are bleak, they should signal an opportunity for banks, credit unions, fintechs and other companies to provide products, services and guidance to improve consumers’ financial stability, according to Jennifer Tescher, founder and CEO of CFSI.