Credit card appetite is growing in tandem with retail sales—what are issuers doing to make the most of this comeback?

Apple Pay’s large acceptance network and user base could make it a formidable player in the buy now, pay later space—posing a major threat to incumbent BNPL providers and credit cards.

After the coronavirus pandemic forced issuers to adapt rewards, enhance forbearance, and build out digital tools to cope with a volume hit in 2020, they’re looking to reimagine their offerings in the future to add new customers and regain primary card status.

Big banks to pool their users’ deposit data for credit card issuance: A group of about 10 banks, including JPMorgan Chase, U.S. Bank, and Wells Fargo, are planning to share each other’s customer deposit records as a way of underwriting for potential customers who lack credit scores—a move that could pose a competitive threat to niche neobanks.

Issuers’ pursuit of clear value propositions and forays into next-gen credit building services offer a window into their plans to attract customers and combat competition.

Buy now, pay later solutions are quickly gaining adoption as consumers look for new financing options and merchants aim to drive sales. But the industry is still unsettled as a number of firms are battling to lead the space, while card networks and issuers are looking to get involved too.

The corporate credit provider’s new premium offering is a one-stop shop for small businesses’ financial needs—boosting Brex’s value proposition and diversifying its revenue streams.

But as debit cards improve contactless functionality and move into new sectors, like account-to-account transactions, they may maintain many of the gains brought on in 2020. Credit Cards. Credit cards are a US payment staple, and their prominence has only been growing for the past few years. Credit cards comprised 23.6% of US consumers’ total transactions on average in 2019—up slightly over 2018.

But when it came to rewards offered, more than two-thirds (68.7%) of respondents used their credit cards versus the 24.3% who used BNPL.