Unbanked Millennials: A Matter of Perspective

Unbanked Millennials: A Matter of Perspective

The theory that Millennials are abandoning banks may be overblown, depending on how their banking relationships with those banks are being defined.


Digital Payments Juice Credit Card Usage While Helping to Avoid Risk

Digital Payments Juice Credit Card Usage While Helping to Avoid Risk

While 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.


The truth of the consumer banking matter

The truth of the consumer banking matter

Myths, 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.


Prepaid cards make inroads with Millennials

Prepaid cards make inroads with Millennials

Prepaid 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.


For commercial payment cards, globalization is good business-but competition is increasing

For commercial payment cards, globalization is good business-but competition is increasing

Globalization 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...


Young adults in the ’Debit Age’ are skewing towards alternative and direct banking

Young adults in the ’Debit Age’ are skewing towards alternative and direct banking

Let’s start with a statistic that, for traditional banks, looks quite troubling; according to survey analysis conducted for Packaged Facts’ January 2014 Debit Cards in the U.S., 5th Edition , the percentage of 18-24 year olds having a “checking account at a bank, savings and loan, credit union, or brokerage firm” has plummeted by almost 30% during 2010-2013.

What’s happening here?

Clearly, traditional banks are losing checking account customers. And it’s not just customers larger banks may h...


Millennial adults increasingly seek alternatives to traditional banking

Millennial adults increasingly seek alternatives to traditional banking

While 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...