Between 2006 and 2016 African-Americans were responsible for a significant portion of the growth in several key categories of financial services.
February 12, 2018In its just-released Buy Now, Pay Later: Point-of-Sale Installment Loans report, we estimate that the BNPL installment lending market in the U.S. grew to $250 billion in 2020
October 5, 2021While consumer credit card loans outstanding are on the rise, growth remains relatively subdued, especially in comparison to automobile and student loan growth rates, suggesting that consumers continue to approach card debt conservatively.
June 1, 2017Globalization is occurring at a rapid pace, requiring increased simplification and control over employer payments and expenses across multiple countries. Among payment providers (networks and card issuers alike), this has undoubtedly caused growing pains, as they struggle to craft solutions sophisticated and robust enough to meet global challenges of many stripes-regulatory and operational hurdles among them. But in plain English, it also means payments expansion-following the arc of global gr...
May 2, 2014While consumers historically underserved by mainstream financial services industry are often referred to as unbanked or underbanked, young adults are quickly joining their ranks. In Unbanked and Underbanked Consumers in the U.S., 3rd Edition , Packaged Facts found that the percentage of 18-24s who self-identify as unbanked has grown by almost 25% during 2005-2013. This jump has likely been influenced by recession-driven unemployment and wage trends that have disproportionately affected younger e...
January 23, 2014African American and Hispanic consumers are more likely than average to view debt as a necessary evil
January 11, 2019Prepaid cards are an ideal vehicle to provide Millennials with a low-cost, mobile- and tech-forward payment instrument for everyday use—a strategy not lost on market participants seeking to broaden their user base.
September 30, 2016These days, general-purpose reloadable prepaid cards are better served by the phrase “prepaid account,” which helps underscore their evolution from payment cards to fully-fledged banking products.
October 5, 2018Myths, half truths, falsehoods. Consumer banking in the modern era is fraught with as many unfortunate misconceptions as it is growth opportunities. In this blog, Packaged Facts sorts fact from fiction and sheds light on how important this segment of the financial services still is to Americans of all ages.
October 19, 2016The theory that Millennials are abandoning banks may be overblown, depending on how their banking relationships with those banks are being defined.
July 19, 2017