VISA USA has made some recommendations for how to implement the shift from magnetic stripe payment cards to those which use a chip for authentication and seems primarily concerned with explaining that the new chip cards will not need associated personal identification numbers. ****Read More; Visa Emphasizing That New Cards Will Not Need Offline PINs
BOSTON — Consumers facing financial pressure are increasingly turning to digital wallets not only for convenience, but also as a way to better manage their household finances, according to a new report from PYMNTS Intelligence . The report, titled “ The New Checkout: Crimped Consumers Lean Into Online Retail and Digital Wallets, ” is based on a survey of 2,108 U.S. adults and found digital wallet adoption is growing fastest among younger consumers and those experiencing financial stress. According to PYMNTS Intelligence, digital wallets are evolving beyond simple payment tools by offering features such as buy now, pay later options, real-time balance information and spending management tools that help consumers monitor their finances. Source: PYMNTS Intelligence Among consumers experiencing high financial stress, 28% said they used a digital wallet for their most recent retail purchase, compared with 11% of consumers reporting low financial stress. For grocery purchases, 21% of financi...
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