In today’s top news, Mastercard third-quarter earnings demonstrated the shift to digital, and Pinterest revenue was boosted due to a shift away from Facebook. And Visa’s earnings report revealed a rebound in consumer spending.
Mastercard’s third-quarter results show a bit of resurgence in debit spend. But cross-border volumes and spending show the headwinds of the pandemic. Management, though, was sanguine about the continued shift to digital payments.
The social sharing platform Pinterest got a revenue bump from the pandemic as more people engaged with online entertainment as a way to socialize under lockdown.
Visa reported fiscal fourth-quarter results Wednesday (Oct. 28) that showed a rebound in pent-up demand, with volumes up quarter over quarter.
European Union digital chief Margrethe Vestager is advocating for strict regulations on Bog Tech, but has argued against breaking up Big Tech companies, contrary to what many officials are pushing for.
Slow payment options can be devastating to businesses’ stability and vendor relationships, but firms often find themselves struggling to choose the right faster payment alternatives, says U.S. Bank Vice President of Global Treasury Management, Faster Payments Adam Carter. In the inaugural Real-Time Payments Report, Carter discusses why businesses must weigh factors like speed, fees and infrastructural constraints when picking payment options that can satisfy recipients’ unique needs.
With top-line pressures and a pandemic in place, businesses are writing fewer checks, even though Deluxe CEO Barry McCarthy sees the lull as temporary and characteristic of any other business downturn. Paper payments, he says, will see growth as businesses seek a simple and ubiquitous way to pay their vendors, even as they shift to digital payments options.
GDP growth of 33 percent is nothing to sneeze at, but it comes after the worst decline ever seen, in the second quarter — thanks to the pandemic, of course. Beyond the headline numbers, might there be warning signs for consumer spending ahead?