What to read today: The Co-Brand Credit Card Report: Co-brand card issuers and brand partners have an opportunity to reimagine their offerings in the pandemic's wake. Leaning on newfound digitization and shifting spending habits can help providers tailor their offerings in ways that widen their net, grow volume, and appeal to the maximum number of customers. In this report, Insider Intelligence zooms in on the state of co-brand credit cards and sketches the industry's post-pandemic future. We size the market and examine how co-brands drive loyalty, confront competition, and attract volume within the retail, airline, hotel, and digital cards sectors. We then discuss best practices that keep issuers and program partners at the industry's cutting edge..
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 | March 12, 2022 | |  | | Russian banks consider shifting to China's UnionPay after Visa and Mastercard pull the plug | Sberbank and other Russian banks are looking into issuing cards with local payments network Mir and China-based card network UnionPay to combat Mastercard and Visa suspending services in the country, per Bloomberg.
Mastercard and Visa blocked several Russian banks from their networks last week to comply with government sanctions following Russia's invasion of Ukraine. Then, both firms went a step further, suspending all operations and transactions in Russia.
Pulling out of Russia could cost Visa and Mastercard millions of dollars—but it also poses a major problem to Russian banks. But new business from Russian banks could bolster UnionPay's effort to expand its global footprint.
Considering China is one of the few countries to maintain a relationship with Russia since the attack on Ukraine, it's unsurprising Russian banks would approach the state-affiliated UnionPay as Western payments firms sever ties with Russia.
Insider Intelligence's Adriana Nunez has the full story. | | |  | BRIEFING HIGHLIGHTS | | | | | | | | | | | | | | | | | | | |  | RESEARCH IN FOCUS | |  | | The Co-Brand Credit Card Report | | Co-brand card issuers and brand partners have an opportunity to reimagine their offerings in the pandemic's wake. Leaning on newfound digitization and shifting spending habits can help providers tailor their offerings in ways that widen their net, grow volume, and appeal to the maximum number of customers. In this report, Insider Intelligence zooms in on the state of co-brand credit cards and sketches the industry's post-pandemic future. We size the market and examine how co-brands drive loyalty, confront competition, and attract volume within the retail, airline, hotel, and digital cards sectors. We then discuss best practices that keep issuers and program partners at the industry's cutting edge. | | Get the full report → | | |  | | Payment Methods and Funding Mechanisms | | Cash, check, card, and electronic bank payments dominate consumer and business payments. But pandemic-driven digitization is changing share of wallet as analog methods continue to decline. In their place, card and electronic transfers will surge, while alternatives like installment loans and cryptocurrencies will threaten giants' market share. In this report, we define and size major payment method and funding mechanism types, offer growth insights and forecasts, and evaluate key trends affecting consumer and business usage in the year to come. | | Get the full report → | | |  | | UK Mobile Banking Emerging Features Benchmark 2021 | | It's never been more challenging—or more important—for FIs to stand out with innovative mobile features. In this report, we share data and insights about emerging mobile features that banks and building societies can support to rise above the competition. We used a dedicated survey of 1,134 UK adult mobile banking users to identify the features that those consumers demand, highlighting features that the 10 largest UK FIs deployed and the mobile functionalities that respondents valued most. | | Get the full report → | | |  | BECOME A SUBSCRIBER | | | Our subscriptions deliver analysis on the biggest trends and decisions shaping the future of your industry. Stay on top and subscribe today to receive:
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