Tag: Mastercard

WEBWIRE – Monday, December 26, 2022 According toMastercard SpendingPulseTM, U.S. retail sales excluding automotiveincreased 7.6% year-over-year this holiday season, running from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation. This holiday retail season looked different than years past, said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings post-pandemic. Key trends this holiday season, included: E-commerce shoppers add ... Read more

Mastercard released a new report today, The Rise of Open Banking, demonstrating the mainstream adoption of technology to power smarter, more meaningful digital experiences. Open banking puts consumers at the center of where and how their data is used to more effectively provide the services they want and need. Fintech companies and banks use this consumer-permissioned data to provide easier and more inclusive access to credit, personal financial management, digital wallets and payments services. Open banking is already embedded in several areas of our daily lives, including personal financial management tools, linking of financial accounts and ... Read more

Retail sales in the U.S. grew for the 11th consecutive month in July, according to Mastercard SpendingPulseTM, which measures in-store and online retail sales across all forms of payment. With more cash in hand—fueled in part by the Child Tax Credit and pent-up savings—consumers drove U.S. retail spending growth excluding automotive and gasoline to +10.9% compared to July 2020. This is nearly quadruple the average growth in the month of July**. At a national level, back-to-school shopping is well underway, impacting a number of sectors as anticipated in our forecast. Overall, key retail trends from July include:   Child Tax Credit Boosts ... Read more