Remittances present themselves as the soft underbelly for banks seeking to launch a second front to displace cash.Banks have an opportunity to work with governments in developing countries as these countries make efforts to bank a bigger share of their populations. Handled right it could be a win-win for banks and their customers. In Asia
Read More
Excluding auto sales, total retail sales grew by 5.5% year-over-year, on par with December’s growth rate, and slightly higher than November’s. Here’s a quick video on the highlights from our January report. For more info about Spending Pulse, you can visit this part of our newsroom
Access to a bank transaction account (being “banked”) is a key index of living standards improving over time. Recent FDIC data suggests that the United States is actually “unbanking the banked.” One-quarter of the U.S. population is unbanked or under-banked, up from around 15 percent a generation ago*. While there are certainly a variety of
Read More
There was a minor kerfluffle in the press just before Christmas regarding the supposed shift to cash in gift buying for the holiday. We were supposed to believe that American consumers were walking into a big box store and counting out fifteen $20 bills to purchase a new PS3. This is hardly plausible. How could it
Read More
