What to read today: The Subscription Payments Ecosystem: The power dynamics in the payments industry are changing as businesses and consumers shift dollars from cash and checks to digital payment methods. This report examines the payments ecosystem today, its growth drivers, and where the industry is headed..
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 | August 1, 2020 | |  | | Amex adjusted its reward offerings to bounce back from the drop in travel and entertainment spending. | American Express reported that its global consumer billed business fell 20% YoY in Q2 2020 after dropping 2% YoY in Q1, as the coronavirus pandemic has increasingly hurt its volume.
Amex's plunge is due to a precipitous drop in spending on travel and entertainment (T&E), which plummeted nearly 100% YoY in April and was still down about 70% YoY in the first half of July.
But Amex is one of the few issuers that has adjusted its rewards offerings to account for changes in consumer spending during the pandemic, which should help it weather the drop in T&E spending.
Business Insider Intelligence's Daniel Keyes has the full story. | | |  | BRIEFING HIGHLIGHTS | | | | | | | | | | | | | | | | | | | | | |  | RESEARCH IN FOCUS | |  | | The Subscription Payments Ecosystem | | The power dynamics in the payments industry are changing as businesses and consumers shift dollars from cash and checks to digital payment methods. This report examines the payments ecosystem today, its growth drivers, and where the industry is headed. | | Get the full report → | | |  | | Antitrust and Big Tech | | This report examines the companies currently facing heightened scrutiny, the cases laid out against them, and their responses to claims that they're reducing competition. We walk through three possible scenarios of the investigations ranging from conservative to extreme, the outcomes that would follow, and what those outcomes could mean for brands and consumers. | | Get the full report → | | | | |  | BECOME A SUBSCRIBER | | Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer?
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