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Today In Payments: Visa Q1 Earnings Show 60 Pct Growth For Visa Direct; Plaid’s Deposit Switch Streamlines Digital Bank Account Funding

In today’s top news, Visa’s first-quarter earnings show growth in contactless payments, and Plaid introduces Plaid Deposit Switch for users to modify paycheck destinations. Plus, Mastercard’s fourth-quarter earnings show a bump in debit spending.

Visa Fiscal Q1 Earnings Show 60 Pct Growth for Visa Direct

Visa’s fiscal first-quarter results showed headwinds in cross-border spend, hampered by the pandemic and travel restrictions. But debit remained strong, contactless transactions gained traction and Visa Direct volumes surged.

Plaid’s Deposit Switch Streamlines Digital Bank Account Funding

Plaid has introduced its Plaid Deposit Switch beta product, which lets users set up or modify the destination of their paychecks. The FinTech says Deposit Switch comes with immediate and backup processes for consumers who are implementing recurring account funding.

Mastercard Q4 Results Show US Debit Growth at 15 Pct

Mastercard results show a bump in debit spending and a continued drag on cross-border transactions. Much depends on border reopenings and social distancing to give a continued tailwind to consumer spending, but B2B opportunities remain on track.

Airbnb Says Consumers Will Travel for Friends, Family Over Tourism

Airbnb, in a newly released report, predicts that 2021 will see a greater amount of regional traveling, with a focus on uniting with loved ones. The desires to reconnect with loved ones and travel safely are the prime reasons people are looking to get the vaccine, according to the report.

NEW DATA: Five Key Features for Improving Mobile Banking App Satisfaction

A third of consumers say they’re not satisfied with using their mobile banking apps to perform basic tasks like adding or removing users from their accounts or opening new ones. In the Mobile Banking App Playbook, PYMNTS surveys 2,581 consumers to identify their must-have mobile banking app features and determine how banks can fine-tune these functions to battle customer dissatisfaction.

Digital-First Down Under: Visa Report Shows Changes Coming For In-Store Shopping

Australian consumers still like and seek out the physical shopping experience, but they’re paying in very different ways. As Visa’s Head of Merchant Sales & Solutions Daniel Parsons told PYMNTS, merchants have been fast to pivot their offerings and service sets due to the pandemic.

Nike, IKEA Lead In-Store Retail Design Revolution

Typical store design seems to be going out of style, as brands are working overtime to redesign the physical shopping experience — and big brands are making big moves.

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