Amex sees improvement from billings

What to read today: US Mobile Wallets in 2020 and Beyond: An overall uptick in US consumer time spent on smartphones is trickling down to payments and commerce and driving volume in three core categories: mobile commerce (m-commerce), mobile peer-to-peer (P2P) payments, and mobile proximity payments. This report sizes the mobile payments market and identifies what''s driving growth in these key areas..

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June 6, 2020 American Express is beginning to see signs of early recovery from the first wave of the pandemic. American Express' 'Steve Squeri indicated at a conference that the firm is beginning to see signs of early recovery from the first wave of the coronavirus pandemic — but challenges remain as the US economy recovers slowly. As of mid-May, Amex's billed business was down 30% on an annual basis — a substantial decline from the 7% growth it posted last Q2 and the -2% in Q1 2020, when the pandemic had just begun and consumer spending was hit hardest. And travel and entertainment remains very depressed, which could impact Amex's return to growth. To weather the pandemic, the firm will need to find ways to incentivize spending without overextending resources. Business Insider Intelligence's Jaime Toplin has the full story. NEW: Chart of the Day Insider Intelligence has launched a new daily newsletter packed with data and key statistics on the biggest trends in today's most disruptive industries. Click below to join! Get Chart of the Day → BRIEFING HIGHLIGHTS How the UK's proposed 'D10 Club' telecom strategy would fare against Huawei Here's what the two strategies proposed by the D10 might look like, and how they would fare in terms of bolstering a stronger Huawei alternative. Read More → Western Union has made a takeover offer for MoneyGram Western Union has reportedly made a takeover offer for MoneyGram, and together they would build formidable online and in-store businesses. Read More → LabCorp teamed up with Medable to enable clinical trial participants to engage remotely LabCorp's contract research organization, Covance, teamed up with Medable to enable clinical trial participants to engage remotely. Read More → UK businesses plan to switch banks due to poor pandemic response Over 40% of UK businesses in a new survey said they plan to switch banks due to slow support from their current banks since the pandemic broke out. Read More → Green Dot is collaborating with a tech company on a bank account for immigrants Welcome Technologies, a designer of solutions to support immigrants, has announced that it has launched a bank account in partnership with Green Dot. Read More → Verizon launches 5G network to enhance virtual health Verizon partnered with the city of San Diego to deliver 5G network connectivity to providers and patients leveraging virtual care. Read More → How Huawei's stockpiling efforts could impact its core business segments Huawei stockpiled billions of dollars worth of chips from suppliers, building a buffer against an escalated US crackdown on the Chinese telecom. Read More → Nordstrom's sales plunged as it closed stores during the pandemic Nordstrom's digital sales decelerated even as the pandemic pushed consumers online –– its total net sales growth fell 39.5% YoY in its fiscal Q1 2020. Read More → Microsoft takes another shot at Zoom Microsoft is working on increasing the number of simultaneous on-screen video callers that Teams supports to 49. Read More → Major US ad agencies are facing an estimated 50,000 job losses The anticipated cuts are largely expected to result from the pandemic-driven pullback in ad spending. Read More → RESEARCH IN FOCUS US Mobile Wallets in 2020 and Beyond An overall uptick in US consumer time spent on smartphones is trickling down to payments and commerce and driving volume in three core categories: mobile commerce (m-commerce), mobile peer-to-peer (P2P) payments, and mobile proximity payments. This report sizes the mobile payments market and identifies what''s driving growth in these key areas. Get the full report → The State of Virtual Care in the US In this report, Business Insider Intelligence explains how the coronavirus pandemic has fast-tracked the implementation and use of virtual care channels in the US. Get the full report → The Internet of Medical Things In this brand new report, Business Insider Intelligence assesses the North American Internet of Medical Things (IoMT) market and explores how the IoMT opportunity for connectivity providers is evolving alongside the coronavirus pandemic, and how these players are carving out their place in the growing segment. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: ipat39@gmail.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2020 Insider Inc. 1 Liberty Plaza, New York, NY 10006