Your wallet may soon be getting thinner. Visa announced major changes to how credit and debit cards will operate in the U.S. in the coming months and years. The new features could mean Americans will be carrying fewer physical cards in their wallets, and will make the 16-digit credit or debit card number printed on every card increasingly irrelevant. They will be some of the biggest changes to how payments operate in the U.S. since the U.S. rolled out chip-embedded cards several years ago.
An increasing number of borrowers are behind on credit card payments. In this post, we explore the relationship between credit card delinquency and changes in credit card “utilization rates.” The nationwide aggregate credit card utilization rate—that is, what share of the aggregate credit limit is being used—was about 23% last quarter, on par with previous quarters.
Cannabis Industry and Gaming Payments Startup Aeropay Is Now Offering an Alternative to Mastercard and Visa The key to taking on legacy players in the financial technology industry may be to go where they have not gone before. That’s what Aeropay is doing. The provider of pay-by-bank solutions for businesses started out helping cannabis retailers and gaming companies with their payments and is now entering into Visa’s and Mastercard’s territory by innovating the payment networks.
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