DCA Member Augeo Launches Crypto Loyalty Program Cryptocurrency platform Heaps was launched by DCA member Augeo, a global leader in enterprise engagement and loyalty platform technology. The new platform, powered by Prime Trust, lets users exchange loyalty rewards for leading cryptocurrencies. DCA Insight: Consumer interest in cryptocurrency is creating opportunities for brands to elevate engagement with customers, members, and employees....

Walmart-Backed Financial Technology Startup To Expand The fintech startup backed by the world’s second-largest retailer Walmart plans to purchase two firms and bring operations under one brand name: One. The new entity will build a financial services super app—a single place for consumers to manage their money. Walmart’s Sam’s Club is a DCA member. DCA Insight: Look for One to...

Bank of America Cuts Overdraft Fees  Bank of America will reduce overdraft fees from $35 to $10. The move by DCA member BOA was made to provide relief to customers least able to afford overdraft fees. BOA, the second-largest bank in the US, also announced it would eliminate nonsufficient-funds fees next month and transfer fees for overdraft protection in May....

Cryptocurrency Lenders To Check Credit Reports  Consumers are now able to provide blockchain companies access to their personal credit scores through the security firm Spring Labs. Specifically, DCA members TransUnion and VantageScore will provide scores to allow cryptocurrency investors to borrow based on their creditworthiness. DCA Insight: This move opens up new opportunities for consumers. The ability for lenders to...

Banks Make It Easier To Get A Credit Card  Almost 30 million credit cards were issued to people with credit scores of 660 and below in 2021, a signal that the US economy (and Americans’ finances) is strong, according to DCA member and credit reporting firm TransUnion. About 33% of banks reported easing credit standards during the fourth quarter of...

Credit Report to Include Buy Now Pay Later Info Installment plans are growing in popularity. In response, Equifax announced it will include info about pay-in-4 plans in its credit reports to provide lenders with a more complete picture of consumers’ financial commitments. DCA Insight: Increasingly, retailers offer buy-now-pay-later as a purchase incentive, giving consumers the option to make four payments...

Hyatt Room Keys Available in Apple Wallet Six US Hyatt locations are integrating hotel room keys with Apple Wallet. Guests unlock their rooms (and access common areas) by tapping their iPhone or Apple Watch. DCA Insight: This is an example of the kind of digital experience consumers are increasingly seeking. Ease, convenience, and security top the list of benefits made...

Payment Giants Forsee Increased Spending Shares of payment stocks are up after brief travel stalls and purchase hesitancy set in following the emergence of the Omicron variant. American Express, Capital One, Fiserv and DCA member Mastercard shares more than doubled the overall market’s 3% gain so far this month. DCA Insight: Research shows the new Covid-19 variant has had less...

The 2021 Christmas Shopping Scene Looks A Lot Like 2019  Card data from DCA member Bank of America and from JPMorgan Chase show strong spending in November, and retailers are feeling positive the trend will continue through the December holidays. DCA Insight: There were 5.8 million more U.S. jobs in October than a year ago. Couple that with last winter’s...

More Credit Card Offers Being Made American consumers paid down their credit-card debt during the pandemic. News reports indicate banks are marketing hard to get them borrowing again. Last year credit-card profitability fell to the lowest level since 2009. DCA Insight: Banks are making moves to reverse the trend. Credit-card solicitations are arriving in consumers’ mailboxes in droves as issuers...

Amazon Contributing to PayPal’s Growth PayPal’s break with eBay in 2015 continues to impact the payment player’s momentum. It’s payment volume from eBay fell 45% in the third quarter from a year earlier as eBay continues to offer additional payment options at check-out. The WSJ reports a new partnership with Amazon will pick up the slack. DCA Insight: Amazon’s addition...

Loyalty Solution Thanks Again Partners with Pentadata  DCA member Pentadata announced it has partnered with Thanks Again. The agreement enables Thanks Again to enhance its offering, an account-linked program that lets members automatically earn rewards when they shop, park, or dine at retailers in and around airports in North America. DCA Insight: Increasingly those in the digital commerce ecosystem are...