In today’s top news, Visa’s first-quarter earnings show growth in contactless payments, and Plaid introduces Plaid Deposit Switch for users to modify paycheck destinations. Plus, Mastercard’s fourth-quarter earnings show a bump in debit spending.
Visa’s fiscal first-quarter results showed headwinds in cross-border spend, hampered by the pandemic and travel restrictions. But debit remained strong, contactless transactions gained traction and Visa Direct volumes surged.
Plaid has introduced its Plaid Deposit Switch beta product, which lets users set up or modify the destination of their paychecks. The FinTech says Deposit Switch comes with immediate and backup processes for consumers who are implementing recurring account funding.
Mastercard results show a bump in debit spending and a continued drag on cross-border transactions. Much depends on border reopenings and social distancing to give a continued tailwind to consumer spending, but B2B opportunities remain on track.
Airbnb, in a newly released report, predicts that 2021 will see a greater amount of regional traveling, with a focus on uniting with loved ones. The desires to reconnect with loved ones and travel safely are the prime reasons people are looking to get the vaccine, according to the report.
A third of consumers say they’re not satisfied with using their mobile banking apps to perform basic tasks like adding or removing users from their accounts or opening new ones. In the Mobile Banking App Playbook, PYMNTS surveys 2,581 consumers to identify their must-have mobile banking app features and determine how banks can fine-tune these functions to battle customer dissatisfaction.
Australian consumers still like and seek out the physical shopping experience, but they’re paying in very different ways. As Visa’s Head of Merchant Sales & Solutions Daniel Parsons told PYMNTS, merchants have been fast to pivot their offerings and service sets due to the pandemic.
Typical store design seems to be going out of style, as brands are working overtime to redesign the physical shopping experience — and big brands are making big moves.