PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

UK Charity Turns to NFC as Cash Use Declines

Tristan Hugo-Webb by Tristan Hugo-Webb
November 7, 2013
in Analysts Coverage
0
Fintechs in Brazil: More Than Just Credit Cards, It Is the Super-App

Fintechs in Brazil: More Than Just Credit Cards, It Is the Super-App

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

After a mildly hopeful post-holiday uptick in revolving credit outstandings, consumers have paid down the large part of 2013’s revolving asset growth. As with the previous few years, consumers appear uncomfortable increasing their borrowing on cards, and largely pay off their Q4 increase in card-based borrowing in Q1 of the new year.

While total consumer borrowing increased slightly during the month, revolving credit, a category dominated by credit card debt, fell 2.4% in March at an annual rate , the first decline this year, a Federal Reserve report showed Tuesday.

The step back after two months of increasing credit card debt suggests consumers were less willing to take on higher balances in order to keep spending. January tax increases took a bite out of most workers’ paychecks.

While consumers have yet to establish any consistent growth pattern in card-based borrowing since card assets reached their peak in 2008 and declined during the recession, borrowing for non-revolving purchases continues to increase.

The gain was entirely due to an increase in nonrevolving credit, which includes student loans and auto financing. That borrowing increased 6% in March at an annual rate compared with an 11% jump in February.

The smaller increase largely comes from auto lending, which eased in March after consistent growth over the prior year, O’Keefe said.

The student-loan market, now dominated by the government, has expanded steadily during the economic recovery. Federal education lending rose by $3.9 billion in March to $560.8 billion. That number is reported without seasonal adjustments.

While consumers clearly are prioritizing non-revolving purchases over more discretionary spending, clearly obligations for major purchases like autos and education compete for consumers’ financial resources, and may contribute to an unwillingness to take on credit card debt.

Click here to read more from Dow Jones Newswire.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix