LowCards.com Weekly Credit Card Update–January 3, 2020

LowCards.com Weekly Credit Card Update–January 3, 2020

January 3, 2020         Written By Bill Hardekopf

Hundreds of Well-Known Restaurants Hit by Card-Stealing Malware
Landry’s, a Houston-based owner and operator of restaurant chains across North America, kicked off the New Year by disclosing that its payment systems had been infected by credit-card-stealing malware for most of 2019. However, the malware could have stolen the card data only if waitstaff mistakenly ran customer credit cards through restaurant food-and-drink order-placement systems instead of credit-card readers. Landry’s operates establishments under 60-odd brand names. Story by Paul Wagenseil for Tom’s Guide

U.S. Holiday Returns Surge With Booming E-Commerce
United Parcel Service on Thursday expects to ship 1.9 million gifts and other items back to U.S. retailers as e-commerce fuels an anticipated 26% year-over-year volume surge on “National Returns Day.” Jan. 2 is the busiest day for holiday returns in the United States. U.S. shoppers return more packages than their peers around the globe, spurred by free shipping on orders and returns – costly perks that squeeze retailer profits. About 10% of goods sold in the United States go back to retailers every year, resulting in roughly $369 billion in lost sales. Story by Lisa Baertlein for Reuters

Average Credit Card Debt in the United States
While average credit card debt is lower overall than its peak in the financial crisis, it has been gradually increasing since 2015. The United States recorded $870 billion in total credit card debt in the fourth quarter of 2018, exceeding the previous record high set in 2008. The percentage of consumers with a credit card decreased during the financial crisis and bottomed out in 2012. Since then, it has steadily increased. The rate of serious credit card delinquencies has gone up a small amount since 2014, but it’s still much lower than it was a decade ago. Story by Lyle Daly for The Motley Fool

Give Up These 5 Things if You Want to Become Debt-Free in 2020
Even though debt is a major cause of stress for Americans, they’re not quite ready to give up certain aspects of their daily lives in order to become debt-free. Over half (52%) say they wouldn’t give up their cell phone, 49% say they wouldn’t give up owning a car and 34% wouldn’t abstain from dining out, according to a recent survey by Tally which asked consumers which products or services they would be unwilling to sacrifice for one year in order to be relieved of their debt. Tally also found that 30% would want to keep their streaming services and 28% would refuse to give up vacations for 12 months, even if it meant having 100% of their debt paid off. Story by Anna Hecht for CNBC

Are Digital Receipts Enough?
Digital bills, statements and receipts alleviate the costs of handling and processing for businesses. For customers, digital receipts save space and allow them to look things up quickly. And overall, digital bills, statements and receipts are friendlier for the environment, because they waste less money and require no physical delivery. The use of paper receipts consumes more than three million trees. Whether you prefer paper or digital, you need an organizational system that works, especially for receipts. Otherwise, you risk turning your disorganized receipt-stuffed cardboard shoe box into a digital one. Here’s a look at both options. Story by Laura Daily for The Washington Post

There are 3 Key Mobile Banking Features Banks Could Invest In to Elevate Their Offerings
Over 61% of consumer banking transactions in 2019 were done on mobile, up from 52% in 2018, as highlighted in a TransUnion study. And many mobile features–like fraud alerts, balance information, and bill pay–are becoming more expected from banks, forcing them to turn to more advanced features to win and engage customers. The study highlights several areas banks can improve upon with their mobile banking offerings–here are three advanced mobile banking features banks could invest in to elevate their mobile offerings. Story by Rachel Green for Business Insider

Mastercard to Acquire Cybersecurity Firm RiskRecon
As 2019 drew to a close, Mastercard announced its plans to acquire RiskRecon in a bid to enhance the company’s cybersecurity capabilities. RiskRecon, a Utah-based cyber risk solutions provider that was founded in 2015, uses publicly available data to construct security assessments of companies and organizations. It will now provide its artificial intelligence and data analytics solutions to financial services giant Mastercard. Story by Kelly Earley for Silicon Republic

Four Digital Banking Trends to Watch in 2020
Banks and credit unions have faced unprecedented levels of competition over the past year. Challenger banks and technology companies have attempted to disrupt traditional banking relationships and gain deposit share, threatening institutions’ roles in their customers’ and businesses’ financial lives. As institutions look to adjust their operating models and business strategies to better align with shifting consumer behaviors and expectations, they should take notice of the trends and activities that are expected to impact the digital banking space in the coming years. Story by Doug Brown for Mobile Payments Today



The information contained within this article was accurate as of January 3, 2020. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.


bill-hardekopf

About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
View all posts by Bill Hardekopf
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