Global Digital Payments Market Set for Substantial Growth by 2030

In the ever-evolving landscape of global commerce, online payments continue to shape the way we conduct transactions. Despite the resurgence of in-person shopping, the digital realm remains a powerhouse, with credit cards maintaining their dominance, as stated in the latest yStats.com report, Global Online Payment Methods 2023.

Topics: Telecommunications & Wireless Financial Services Industry Insights

3 Emerging Trends in Payment Technology

The payment landscape has witnessed significant transformations due to the accelerated growth of mobile and online payment methods, particularly during the pandemic. As consumers and businesses worldwide embraced digital payments, several innovative trends emerged within the conventional payment market. This article explores three noteworthy developments: virtual cards, in-car payments, and the concept of Request-to-Pay.

Topics: Telecommunications & Wireless Financial Services

Is the Future of Shopping Cashless? Predicting the Future of Payments

The landscape of commerce has undergone a radical transformation through the integration of technology, revolutionizing both online and offline purchasing channels. From in-store experiences to online shopping and social media interactions, consumers worldwide have embraced the versatility of modern payment methods.

Topics: E-commerce & IT Outsourcing Telecommunications & Wireless Financial Services Industry Insights

Cryptocurrencies and Blockchain Explained

Simply put, Bitcoin and similar cryptocurrencies are “mined” by fast computers (or servers) that run algorithms 24/7.

Topics: Financial Services Industry Insights

$36 Billion Alternative Financial Services Market Serves "Unbanked" Consumers

There are millions of households in America with low incomes and poor credit that find dealing with traditional banks to be difficult. They have chosen instead to patronize “alternative financial” services that provide extended hours and less restrictive credit policies—local check cashing and money transfer outlets, pawn shops, rent-to-own stores, and payday loan services.

Topics: Financial Services Industry Insights

5 Things to Know About the Private Label Credit Card Industry

These days, retailers are pushing much more than just merchandise. It’s common for sales associates to invite customers to sign up for a private label credit card, also known as a store card, in exchange for a discount on an initial purchase.

Topics: Financial Services Packaged Facts Industry Insights

Wealth & Demographic Trends: 3 Key Facts About the Affluent

Years after the Great Recession, household growth in the U.S. is on the rise – and skewing heavily toward higher income families.  According to Affluent and High Net-Worth Americans, a recent white paper from Packaged Facts, post-recession household growth is most pronounced among affluent households, which grew by 90% from 2010 to 2019.

Topics: Demographics Financial Services Packaged Facts Industry Insights

Who Will Be the New Players in the Autonomous Vehicle Market?

Note: The following is an excerpt from the white paper "The Emerging Autonomous Vehicle Ecosystem: Who Will Be the Stakeholders, and How Can They Win?" by BIS Research, a global market intelligence, research, and advisory company that focuses on emerging technology trends that are likely to disrupt the market.

Topics: Software & Enterprise Computing Manufacturing & Construction Transportation & Shipping Financial Services Industry Insights

Walmart’s Competitive Advantage: 3 Key Success Factors

Walmart is famous for its ability to deliver “products that are so darn cheap you can’t believe it.” But there’s more to Walmart’s business strategy than low prices.

In a four-part series, the market research firm Packaged Facts examines critical aspects of Walmart’s business model and the factors that motivate consumers to shop there. This article shares key findings from these reports to help explain how Walmart has built and maintained such a strong competitive advantage in multiple industry categories.

Topics: Food & Beverage Financial Services Pets Packaged Facts

Infographic: The Gift Card and Prepaid Card Market

Gift cards are a popular go-to option for shoppers of all ages. Not surprisingly, Christmas and birthdays are top occasions for purchasing gift cards. The most widely purchased gift cards are for coffee shops and restaurants, according to Packaged Facts, a leading consumer research firm.

Gift cards are a massive, multi-billion dollar industry in the U.S., but not all prepaid cards are purchased as gifts and stocking stuffers. A variety of prepaid cards are also used for government-administered benefits, employee rewards and incentives, and tax refunds. In addition, millions of consumers use prepaid cards as an alternative to traditional bank accounts.

Topics: Financial Services Packaged Facts Industry Insights