MasterCard research[1] shows that heavy debit card users in emerging markets also tend to be heavy users of cash. Take Colombia for example, where heavy debit users—defined as those who use debit cards more than once per week—spend about a quarter of their monthly expenses on debit cards. These consumers spend an equal amount in
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Younger people are not often at the top of financial institutions’ priority lists because of their comparatively limited resources. Their careers are just beginning and their low income makes them appear unworthy of serious attention. However, banks ignore this segment at their peril. Why? Because there is mounting evidence that the feeling is mutual. According to
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Just got back from MasterCard’s America Risk Management Academy meeting in San Diego, where I led a panel (more about that in a minute). During the conference news of the Sony breach surfaced, which led to some pretty interesting discussion. Not to sound like too much of a homer, but it was one of the most
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This morning we released the SpendingPulse April total retail sales results. Spending in the US continued to gather momentum in April, as retail sales ex autos grew by 8.8% year-to-year. Last month’s growth was well above the 7.1% year-to-year growth of last quarter, and is the best year-to-year growth rate from retail spending (ex autos)
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Here’s an interesting paradox: While the world is becoming more digital, the primary criterion people use to select a checking account is physical convenience—proximity of the bank branch to their home or office. What makes this more noteworthy is that once consumers select a bank they are apt to stay; only seven to eight percent
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