Rimma Kats

New York

Editor-in-Chief at PaymentsJournal

Host at The PaymentsJournal Podcast

Coffee drinker, iPhone addict, Executive Editor @eMarketer.

Featured in: Favicon

paymentsjournal.com Favicon

businessinsider.com Favicon

emarketer.com Favicon

insiderintelligence.com Favicon

marketingdive.com Favicon

retaildive.com Favicon

thisoldhouse.com Favicon

luxurydaily.com Favicon

furninfo.com Favicon

mediavataarme.com

Articles

How Biometric Payments Are Shaping the Future of Contactless Transactions

Jul 23, 2024 | paymentsjournal.com | Rimma Kats

Biometric payments have evolved from the early days of fingerprint authentication. Today, technologies like fingerprint and facial recognition are gaining widespread attention and acceptance. This broad appreciation for biometric methods highlights a shift toward more secure and efficient payment experiences. “Consumers are embracing new ways to pay,” said Dennis Gamiello, Executive Vice President of Identity Products & Innovation at Mastercard.
The Rapid Rise of BNPL: Growing Popularity Meets Heightened Scrutiny

Apr 1, 2024 | paymentsjournal.com | Rimma Kats

Buy now, pay later services are becoming increasingly indispensable for many consumers—whether they’re looking to make big-ticket purchases or seeking to divide their grocery expenses into more manageable installments. However, with BNPL’s rapid adoption across all age groups, there’s growing scrutiny regarding the absence of regulatory oversight in this sector—and the pressing need for it.
CFPB Is Keeping an Eye on Credit Card Rewards, BNPL Services

Mar 28, 2024 | paymentsjournal.com | Rimma Kats

The Consumer Financial Protection Bureau (CFPB) is examining a rise in consumer complaints related to credit cards rewards. During the Consumer Bankers Association Live conference earlier this week, Rohit Chopra, Director of the CFPB, noted heightened scrutiny in this area and hinted at potential enforcement actions.
How Gen Z Is Redefining the Payments Landscape

Mar 28, 2024 | paymentsjournal.com | Rimma Kats

Gen Z not only possesses increasing spending power, but this demographic—raised in a digital environment—is vocal about their payment preferences. Younger consumers are more inclined to explore and adopt alternative payment methods, such as contactless payments or buy now, pay later services, in comparison to older cohorts. Data from EY reveals that seamless experiences matter greatly to Gen Z. Even a single unnecessary step during the payment process leaves them dissatisfied.
The Tech Innovations Reshaping Commerce

Mar 7, 2024 | paymentsjournal.com | Rimma Kats

Emerging tech continues to reshape the commerce landscape and is poised to do so even more in the next three to five years. Key tech trends such as artificial intelligence (AI), computational power, and data technologies are expected to have a significant impact on various aspects of commerce. Mastercard’s recent Emerging Technology Trends for 2024 report sheds light on how advanced technology is driving more intelligent and interconnected commerce experiences.
Few Retail Banks Are Ready to Leverage Generative AI

Mar 6, 2024 | paymentsjournal.com | Rimma Kats

Many retail banks recognize the potential of generative AI as a significant advancement, but few feel prepared to harness its fullest potential. According to Capgemini Research Institute’s World of Retail Banking report, a large share of respondents (70%) said they plan to increase their investments in digital transformation by up to 10% this year. However, only a mere 4% of surveyed retail banks indicated readiness to fully embrace intelligent automation driven by generative AI.
Consumer Trust in Biometric Data Security Wanes

Mar 5, 2024 | paymentsjournal.com | Rimma Kats

Consumers have become increasingly skeptical about tech companies’ ability to protect biometric data. A new survey from GetApp, which polled 1,000 consumers, revealed that the percentage of respondents who trust tech companies to keep biometric data safe dropped from 29% in 2022 to 5% in 2024. The surge in biometric usage during the pandemic, driven by desire for touchless payment alternatives, has been accompanied by a notable shift in consumer comfort levels.
Zelle Transaction Volume Reaches $806 Billion

Mar 4, 2024 | paymentsjournal.com | Rimma Kats

Zelle saw a significant surge in transactions last year, with consumers and small businesses conducting 2.9 billion transactions, totaling $806 billion—a 28% increase from the previous year. According to Early Warning, the network operator for Zelle, fully 120 million customers and businesses used the Zelle network in 2023. Small business, in particular, experienced a substantial boost, receiving 217 million payments through Zelle, amounting to more than $100 billion.
More Consumers Are Satisfied with BNPL Services

Mar 1, 2024 | paymentsjournal.com | Rimma Kats

The appeal of breaking down purchases into smaller payment installments remains strong, despite ongoing worries about rising consumer debt. J.D. Power reports that consumers are generally highly satisfied with buy now, pay later plans, with financially stable consumers expressing the highest satisfaction. Customer satisfaction with BNPL services increased by 16 points year over year, largely attributed to their ease of use, security of account information, and reasonable terms.
Visa and Checkbook Set Out to Ramp up Instant Payments Availability

Feb 29, 2024 | paymentsjournal.com | Rimma Kats

Visa and Checkbook are continuing their ongoing partnership, with a new multi-year initiative that aims to make instant payments more available for all. “In today’s ‘always on’ world, businesses and consumers demand quick and convenient access to cash flow – whether paying insurance claims, disbursing wages, tips or rebates – speed and efficiency have become the name of the game,” said Yanilsa Gonzalez-Ore, North America Head, Visa Direct in a prepared statement.