"Rates are holding up better at credit unions. You can see how long-term CD rates at two popular credit unions compare to Discover Bank's 10-year CD in my post Comparing the Best CD Rates After Early Withdrawal Penalties. I think it's likely that we'll see more rate cuts at these credit unions. Police and Fire Federal Credit Union (PFFCU) in Philadelphia had a good explanation in January how they were able to offer such competitive rates and why those rates had to fall. Here are excerpts:" Long-Term CD Rates Continue to Decline:
According to a recent Worldpay study, digital payments are rapidly becoming the preferred choice worldwide. The research highlights significant shifts in consumer behavior and payment preferences, driven by technological advancements and the growing acceptance of cashless transactions. Key findings from the study reveal that digital payments now account for a substantial portion of global transactions. Mobile wallets, contactless payments, and online banking are gaining traction, reflecting consumers' desire for convenience and speed. This trend is especially prominent in regions like Asia Pacific, where mobile payment adoption is leading the charge. The study also emphasizes the importance of security in fostering consumer trust in digital payments. As fraud concerns continue to rise, businesses must prioritize robust security measures to protect customer information and enhance the payment experience. Moreover, the transition to digital payments is not just about c...
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