Page 8 - gs251202_Flipbook

NewsBriefs

This article contains summaries of news stories recently posted under cash or BNPL options. Card favorability drops by 40 per-
Breaking Industry News on our homepage. For links to these and other cent or more under surcharge conditions.
full news stories, please visit www.greensheet.com/breakingnews.php.
Credit cards remain the dominant payment method, used
by 89 percent of small businesses, followed by digital wal-
lets, cash and debit cards. BNPL usage rose to 17 percent.
American Express ranked highest in satisfaction for the
fifth straight year.
Beyond passkeys, FIDO Alliance
Holiday weekend sets shopping records eyes password-free ID future

Consumers shopped and spent in record numbers during The FIDO Alliance is expanding its mission beyond pass-
the five-day holiday weekend from Thanksgiving through wordless authentication to tackle digital identity. In De-
Cyber Monday 2025, according to the NRF, Prosper In- cember 2025, FIDO launched a Digital Credentials Work-
sights & Analytics, Mastercard, Salesforce and Adobe. A ing Group to address fragmentation across identity wal-
record 202.9 million consumers shopped, exceeding last lets, credential issuers and relying parties. The initiative
year's 197 million. Online shopping led with 134.9 million applies the same collaborative standards-based approach
consumers, while in-store shopping reached 129.5 million. that drove adoption of passkeys to digital credentials such
as government-issued IDs, mobile driver's licenses, and
Black Friday was the busiest day overall, followed by credentials tied to payments or loyalty programs.
strong gains through the weekend and a surge on Cy-
ber Monday. Nearly all shoppers surveyed made holiday Despite growing momentum—such as the EU's Digital
purchases, spending an average $337.86, the highest level Identity Wallet program and widespread issuance of mo-
since 2019. About two-thirds of spending went toward bile driver's licenses in the U.S.—adoption has been slowed
gifts, with clothing, toys and books among top categories. by inconsistent technical, security and privacy frame-
works. To close these gaps, FIDO outlined three work-
Retail sales excluding autos rose 4.1 percent year over year streams: wallet certification to ensure baseline security
on Black Friday, with apparel and restaurants among top and interoperability; complementary specifications that
performers. Online sales posted solid growth, with Cyber build on existing standards from groups like ISO, OpenID
Monday spending hitting $14.25 billion. Mobile devices and W3C; and usability and relying-party enablement to
dominated online shopping, while digital wallets, social reduce implementation friction.
media and AI-driven shopping tools boosted traffic, con-
versions and sales growth. Industry groups including OpenID, W3C, EMVCo and the
Small business credit card satisfaction surges OpenWallet Foundation, welcomed the effort.

Satisfaction with small business credit cards rose sharply States raise questions about BNPL
in 2025, driven largely by financially vulnerable business- A coalition of attorneys general from seven states is scruti-
es, according to the J.D. Power U.S. Small Business Credit nizing the buy now, pay later (BNPL) market, raising con-
Card Satisfaction Study. Overall satisfaction increased to cerns about consumer protections, fees and rising debt.
716 on a 1,000-point scale, up from 708 last year, with the Led by North Carolina Attorney General Jeff Jackson, the
biggest gains tied to card terms, benefits and rewards pro- group sent a joint letter to the six largest BNPL providers—
grams. Affirm, Klarna, PayPal, Sezzle, Zip and Afterpay—seeking
detailed information about their products and practices.
Financially vulnerable businesses reported the highest
satisfaction, particularly when cards offered features that The attorneys general warned that BNPL loans, while
support cash flow, such as rewards, payment plans, bal- often marketed as simple and interest-free, may expose
ance transfers and discounts. However, many small busi- consumers to surprise fees, weak dispute resolution and
nesses strongly dislike surcharges: 28 percent avoid using inadequate assessments of borrowers' ability to repay. Cit-
credit cards when surcharges apply, instead turning to ing Federal Reserve findings, they noted that nearly one in
four BNPL users has recently fallen behind on payments.
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