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New Delhi: 78 per cent of consumers now prefer to do most of their banking digitally through <keyword id="19915384" type="General" weightage="20" keywordseo="mobile-apps" source="keywords">mobile apps</keyword> or websites, according to the Alkami report. This shift is part of a broader trend towards <keyword id="21227659" type="General" weightage="20" keywordseo="cashless-transactions" source="keywords">cashless transactions</keyword> and <keyword id="21012835" type="General" weightage="20" keywordseo="contactless-payments" source="keywords">contactless payments</keyword>, which have become the default for many, especially since the COVID-19 pandemic. According to the report, nearly 80 per cent of financial institutions have seen an increase in cashless transactions over the past two years. This change has been accelerated by the pandemic, with many consumers opting for digital payments to avoid handling cash. About 60 per cent of these institutions noted that the volume of cashless transactions has surged by more than 20 per cent. Cashless payments aren't a new concept--personal checks and credit cards have been around for decades. However, today's digital payments, whether made through a smartphone, laptop, or tablet, are quickly becoming the standard. The convenience and safety of these transactions, especially in a post-pandemic world, have made them more popular than ever. Allison Cerra, Chief Marketing Officer at Alkami Technology, said, "The banking leaders of the future will be those that can harness data for the best use, gain a holistic view of their relationships, and meet the rapidly changing needs of digital consumers." With more people turning to <keyword id="20028215" type="General" weightage="20" keywordseo="digital-banking" source="keywords">digital banking</keyword>, there's been a noticeable decline in the use of ATMs and checks. Chad Rogers, Executive Vice President at Connexus Credit Union, noted that even millennials are moving away from traditional banking methods. "What we're seeing, even with our millennial users, is that they're no longer ordering checks, or making cash withdrawals from our ATMs as we would expect. Instead, they are self-serving from home or wherever they are. They're moving money through our digital banking platform," he said. Interestingly, even though fewer people are visiting bank branches in person, their overall engagement with banks has increased. Thanks to the ease of mobile and <keyword id="19998466" type="General" weightage="20" keywordseo="online-banking" source="keywords">online banking</keyword>, customers are now interacting with their banks more frequently, often on a daily basis. While cashless transactions are on the rise, the adoption of cryptocurrency is growing more slowly. Around 21 per cent of financial institutions reported that their customers are asking for Bitcoin products and services. Although this is still a relatively small percentage, 35 per cent of banks believe that offering cryptocurrency options could give them a competitive edge. Banks are also feeling the heat from fintech companies like PayPal, Stripe, and Venmo. Jamie Dimon, CEO of JPMorgan Chase, has called these fintechs "enormous competitive threats" to traditional banking. The popularity of fintechs has only increased during the pandemic, with many consumers turning to these platforms for their financial needs. Despite the competition, some banks are partnering with fintechs to stay relevant. According to the report, 50 per cent of banks and 40 per cent of credit unions have teamed up with fintech companies in the past three years to enhance their digital offerings. Looking ahead, many experts believe that the future of banking will revolve around personalised experiences. However, only about a quarter of financial institutions are currently using hyperpersonalization to gain a competitive advantage. There's a growing opportunity for banks to leverage personalised recommendations and offers to better serve their customers. Data is also playing a crucial role in this digital transformation. Most banks are now using data analysis to improve customer experiences, guide decision-making, and reduce development time and costs. By unlocking the potential of customer data, banks can better anticipate their clients' needs and offer tailored solutions. Allison Cerra Chief Marketing Officer at Alkami Technology, said, "We are now at a place where technology has democratised financial advice and counsel. It is no longer just the privileged upper class who can afford to get financially fit and prepare for the future."

78 pc of consumers choose digital banking over cash transactions

India has witnessed the fastest jump in alternative payment share for <keyword id="21422684" type="General" weightage="100" keywordseo="e-commerce-payments" source="keywords">e-commerce payments</keyword> in the <keyword id="20122305" type="General" weightage="20" keywordseo="Asia-Pacific-region" source="keywords">Asia-pacific region</keyword> from 20.4% in 2018 to 58.1% in 2023 as per a report by GlobalData, a data and analytics company. Options for payment other than traditional cash include <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>, <keyword id="6354770" type="General" weightage="20" keywordseo="debit-cards" source="Orion">debit cards</keyword> and <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> among others. "This significant uptake of alternative payment solutions can be attributed to the widespread usage of <keyword id="21223853" type="General" weightage="20" keywordseo="mobile-wallets" source="keywords">mobile wallets</keyword>, largely driven by UPI, which facilitates mobile payments in real-time simply by scanning <keyword id="19993724" type="General" weightage="20" keywordseo="QR-codes" source="keywords">QR codes</keyword>," GlobalData report elaborated. The report highlights that in the Asia-Pacific (APAC) region, the payment solutions such as mobile and digital wallets have displaced traditional payment methods like cash and bank transfers for e-commerce payments. The report states that such alternative payments are already immensely popular in countries like <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> and India and are also gaining traction in other APAC markets as well. However, China led the way in 2023, with alternative payments accounting for nearly two-thirds of the total e-commerce payments value in 2023 that took place in the entire Asia Pacific region. However, India is also not far behind, with a significant surge in alternative payment methods since 2018. The e-commerce analytics by the company revealed that even traditionally cash-intensive countries in APAC such as the Philippines, Malaysia, and Indonesia, are witnessing a similar trend. "While most Asian markets are traditionally cash-dominated, the adoption of alternative payment methods for both online and in-store payments is growing across many markets in the region, even outpacing the West. This trend is driven by the rising smartphone and internet accessibility, increasing convenience of electronic payments, and the proliferation of mobile and QR code-based payment solutions" said Shiv Gupta, Senior Banking and Payments Analyst at GlobalData. The report also highlights that within the Asia-Pacific region, China and India have a higher adoption rate of alternative payment methods as compared to their peers. According to the company's 2023 Financial Services Consumer Survey, alternative payment solutions account for more than 65% of the e-commerce transaction value in China, the largest e-commerce market globally. It represents a significant increase from 53.4% in 2018. Other Asian markets like Indonesia, Hong Kong, Singapore, and the Philippines are also seeing higher adoption of alternative payment solutions. "Alternative payment solutions accounts for lion share in e-commerce markets across many APAC countries, supported by rising internet and smartphone penetration, and growing acceptance of digital payments by merchants. With the convenience, speed, and security they offer, coupled with high expected growth in the overall e-commerce market in the region, these payment tools are anticipated to further gain traction and disrupt the consumer payment space in the region" said Gupta.

India's non-cash payments on e-commerce platforms surge to 58.1% in 2023

About a month before I moved to Denver in 2018, I texted another recent transplant to ask for neighborhood suggestions. Her reply might as well have been in another language: Among the options she rattled off were RiNo, SoBo, LoDo, and the head-scratching LoHi. I couldn't find those names anywhere on the city's official maps, but the shorthand flowed freely among the youngish crowd I met there. The older real-estate types I encountered while reporting on <a target="_blank" href="https://www.businessinsider.com/moved-to-denver-colorado-and-regretted-it-2023-11">the city's housing market</a> were fond of the nicknames, too. Soon I was parroting them all.If you've relocated to an <a target="_blank" href="https://www.businessinsider.com/where-home-prices-rise-appreciate-most-next-year-cities-zillow-2024-5">up-and-coming American city</a> in the past decade, you've likely had to decipher a similar code. Developers and business associations have long slapped pithy names on fast-growing parts of town, and tenured residents have long rolled their eyes at them. But with the growing adoption of these new abbreviations, I think I'm ready to say enough is enough. <a target="_blank" href="https://www.businessinsider.com/netflix-love-is-blind-charlotte-suburban-housing-debate-walkable-density-2024-3">Charlotte, North Carolina,</a> has MoRA and LoSo; <a target="_blank" href="https://www.businessinsider.com/falling-rent-price-locations-us-housing-market-supply-florida-texas-2024-5">Nashville's</a> got SoBro; Boston has SoWa. In Louisville, Kentucky (which also has a SoBro), you may find yourself sipping a craft beer in NuLu. My <a target="_blank" href="https://www.businessinsider.com/austin-real-estate-housing-market-health-demand-sales-prices-projections-2024-3">hometown of Austin</a> already has SoCo, and the powers that be are trying to make "SoLa" happen. The path of progress is paved with nonsense nomenclature — or, as my editor calls them, "'Sound of Music'-ass names."These unholy mashups would be fine, I guess, if they were dumb yet harmless inventions. But they're not just silly nicknames or low-lift marketing ploys. They're the calling cards of developers and new arrivals as they try to wipe the slate clean on existing neighborhoods and remake them in their image. I'm all for building more housing — it's the <a target="_blank" href="https://www.businessinsider.com/economic-inequality-housing-shortage-causes-2023-1">only way out of our affordability crisis</a>, after all. If a goofy new name is all that's needed to convince well-off transplants to flock to glass towers in a once deserted part of town, then great! But often it's more about renaming a place where people already live in hopes that whitewashing its history will make it easier to attract wealthy people and drive up the property values — inevitably sending longtime residents packing.I worry that the pandemic reshuffling, which <a target="_blank" href="https://www.businessinsider.com/remote-work-home-house-prices-rent-cost-decline-cheaper-cities-2023-1">scattered white-collar workers across the country</a> in search of wide open spaces, will only encourage more of this kind of behavior. As cities bend over backward to attract a certain type of middle- and high-income worker, they often end up <a target="_blank" href="https://www.businessinsider.com/why-american-cities-look-the-same-remote-work-city-authentic-2023-7">looking the same</a>. Now they're sounding the same, too. Let's at least call these two-syllable monikers what they are: cookie-cutter attempts to herd <a target="_blank" href="https://www.businessinsider.com/henry-student-loans-six-figure-income-millennial-gen-z-retirement-2023-11">HENRYs</a> and <a target="_blank" href="https://www.businessinsider.com/net-worth-dink-child-free-couples-win-the-economy-2023-10">DINKs</a> toward new coffee shops and studio apartments in areas they would have avoided a decade ago.It seems like every undervalued neighborhood in America is at risk of this kind of rebrand. But the SoBros and SoWas of the world are just the tip of the iceberg — the most egregious outcomes of contentious battles over neighborhoods' names and boundaries. And unless we put our collective foot down, we're bound to get a lot more of them.Gill Holland moved from New York City to <a target="_blank" href="https://www.businessinsider.com/best-things-to-do-louisville-kentucky-according-to-local-2021-9">Louisville</a> in 2005. Holland, a serial entrepreneur and real-estate developer, is a country boy at heart — he was born and raised in a small town in North Carolina — but he yearned for the kind of vibrant, walkable streets he'd come to love as a resident of Manhattan's Greenwich Village neighborhood. He began renting office space at the edge of Louisville's downtown, in a run-down area that was home to, in his words, "lots of great, old buildings." Holland saw potential. But there was another issue. All the surrounding areas had "great brands": strong names with history behind them, like Butchertown, Smoketown, and Phoenix Hill. Holland's chosen zone, meanwhile, had no such calling card."I kept thinking, like, this part of town needs a brand," Holland told me.The local business association tried out "East Market District," which stuck for a little bit. But Holland was quietly floating another name, one that represented the "New-York-to-Louisville bridge" he was already building in his mind. When he opened an art gallery in the area, he lopped off the first syllable of each city and stitched them together. The result was NuLu.While some cities have processes for naming neighborhoods and defining their limits, most often things are more informal. Neighborhood names, as the law professors Nestor Davidson and David Fagundes noted in a 2019 paper, have long been a neat little trick of advertising devised by "real estate agents and developers, or community groups like neighborhood associations." An <a target="_blank" href="https://www.businessinsider.com/apartment-rent-increases-landlords-antitrust-lawsuits-real-estate-software-realpage-2024-4">apartment owner </a>might come up with a catchy name in a bid to draw new tenants, new arrivals might will a neighborhood into existence merely by saying it a lot, or some communities might band together to intentionally reclaim an area.These enterprising groups understand that neighborhood "brands" play an essential role in attracting new arrivals and helping them establish their place in a city (while also luring them to spend their dollars at the shops, art galleries, and restaurants in burgeoning areas). Neighborhood names are proxies for the kind of person you are or hope to become. We choose a neighborhood that matches our sense of self, the kind of place where we can find our people. Or we latch on to a neighborhood to craft a new identity, taking on the qualities of the area in which we live.Neighborhood names are also shorthand for your <a target="_blank" href="https://www.businessinsider.com/real-estate-renting-buying-affordability-mortgage-rates-home-prices-rent-2024-5">rent or mortgage payments</a>. A 2018 study from the online home-improvement platform Porch found that areas with "Hills," "Island," "Village," and "Oaks" tended to have the highest household incomes across the US. Areas with the Spanish words "Los" or "Las" in their names, on the other hand, were among the neighborhoods with the lowest incomes. In another 2018 study, researchers from McGill University and the University of Maryland noted that real-estate companies relied on neighborhood boundaries to compare prices across properties and that being associated with a desirable neighborhood could improve access to things like healthcare or lower mortgage rates.Neighborhood nicknames have <a target="_blank" href="https://www.businessinsider.com/new-york-city-gaudy-gilded-age-restaurants-bars-wall-street-2024-4">a rich tradition in New York</a>: There's <a target="_blank" href="https://www.businessinsider.com/soho-nyc-neighborhood-rezoning-battle-photos-2021-4">SoHo</a>, an abbreviation for South of Houston Street (which also appears to be the inspiration for the wave of two-syllable monikers that has followed), Dumbo (Down Under the Manhattan Bridge Overpass), <a target="_blank" href="https://www.businessinsider.com/how-nyc-office-buildings-towers-became-housing-2023-9">FiDi</a> (the Financial District), and Tribeca (the Triangle Below Canal Street). Landlords in the city often try to stretch the boundaries of desirable neighborhoods when advertising their properties — I've rolled my eyes at listings that claimed to be in high-demand neighborhoods like the Lower East Side or Chelsea when no reasonable local would agree. This practice isn't unique to New York. The researchers from McGill and Maryland found that affluent or otherwise desirable neighborhoods around the country appeared to be much larger in the eyes of landlords advertising their properties on Craigslist than they were according to less biased third parties like Google Maps or city planning departments. Meanwhile, landlords who advertised rental properties in areas with lower-income, nonwhite communities were less likely to include the neighborhood's name in their listings."A single neighborhood name invokes a whole lot of different connotations or feelings for people," Grant McKenzie, a geography professor at McGill who was a member of the research team, told me. Landlords are all too aware of this effect — mention a neighborhood that has a negative connotation, and "it immediately jumps out in the listing," McKenzie said. The solution? Spin up new shorthand to drum up interest in an old neighborhood. But here's where things get cringey. In 2017, real-estate brokers in the historically Black New York neighborhood of Harlem sparked backlash when they tried to rebrand its south end as SoHa. Years earlier, Hakeem Jeffries, then a Democratic lawmaker in the New York State Assembly, had proposed legislation to ban neighborhood renaming, claiming the practice artificially inflated housing prices."Neighborhoods have a history, culture, and character that should not be tossed overboard whenever a Realtor decides it would be easier to market under another name," Jeffries told The New York Times in 2011.In some cases, a new neighborhood name might signal <a target="_blank" href="https://www.businessinsider.com/miami-climate-change-gentrification-flooding-housing-crisis-real-estate-prices-2024-4">it's already too late</a>. Davidson told me that once a neighborhood has a lot of cachet, shortening its name, á la SoHo, can be a way of formally announcing its arrival."For better or worse, and I think often worse, it is a way of signaling exclusion and signaling that a certain kind of people are living in that neighborhood," Davidson said. "That can have consequences for gentrification or displacement."The SoHa controversy isn't unique to the Big Apple — in Denver, many developers proudly tout their buildings' locations in the River North Arts District, or RiNo, without mentioning that the district is a relatively new creation overlaid on part of the historically Black neighborhood of Five Points. The South Congress strip in Austin used to be home to a brothel and porn theater; today, a <a target="_blank" href="https://www.businessinsider.com/14-best-austin-texas-neighborhoods-people-moving-2021-5">visit to SoCo</a> might include a splurge at the <a target="_blank" href="https://www.businessinsider.com/hermes-gen-z-resale-birkin-bag-2024-4">Hermès store</a> or a stroll past the members-only <a target="_blank" href="https://www.businessinsider.com/gen-z-soho-house-member-club-worth-fee-2024-3">Soho House</a>. For developers, brokers, or whoever else is behind these rebrands, the abbreviations are a kind of compromise, McKenzie said. They're not total erasures, but they're clearly designed with a fresh start in mind."It's an attempt to adjust things without blatantly coming in and putting a brand-new name that has nothing to do with the region," McKenzie said. "By shortening it to this sexy acronym, you're able to sort of mask a bit of the historical name that maybe has some negative connotation."Whatever the rationale behind some of these rebrands, it's hard to argue with the results. In the case of SoCo, a thriving retail district is certainly preferable to its seedy past. Louisville's NuLu neighborhood, which eventually caught on among other residents, has received more than half a billion dollars in investment since Holland coined the term around 2006, he told me. Bob Dylan's whiskey company is opening a restaurant, bar, and live-music venue there. The times are indeed a-changin'.I'm not a <a target="_blank" href="https://www.businessinsider.com/yimbys-winning-lower-house-prices-rents-build-more-homes-neighborhoods-2023-9">NIMBY</a>. We need to build a lot more homes across all price points, and we need developers to move <a target="_blank" href="https://www.businessinsider.com/america-build-infrastructure-transportation-housing-regulation-environment-2023-11">mountains of red tape</a> in order to make it all happen. At their best, new neighborhood names bring people together over a shared sense of pride in their little corner of the world. But at their worst, they're cynical chess moves designed to grease the wheels of gentrification.Along the way, these neighborhood names have veered into parody territory. In "How I Met Your Mother," Marshall and Lily buy an apartment in the fictional neighborhood of Dowisetrepla before realizing its name stands for Downwind of the Sewage Treatment Plant. When a "South Park" character urges his fellow citizens to revamp their town, the result is a new shopping district called SoDoSoPa. Like any good piece of satire, these names aren't too far off from their real-life inspiration. When a Redditor posts a map of Charlotte with a reference to WeLoSo (West of Lower South End), it can be hard to tell if they're kidding.But while jokes at the expense of Scrabble-tile neighborhood names have been around for years, I think we're destined to see a groundswell of new targets as pandemic-era transplants settle into their chosen <a target="_blank" href="https://www.businessinsider.com/remote-workers-flooding-zoomtowns-causing-affordable-housing-crisis-2022-5">Zoomtowns</a>. I'm not saying that neighborhood names should be set in stone — in fact, I think it's natural for them to evolve alongside their populations. But I think our cities, and their residents, deserve better than the lazy rebrands we've seen of late.Recently, one X user wondered aloud whether a section of Brooklyn's East Williamsburg neighborhood, outlined on a map in a yellow box, was worthy of a new name given its appeal to a specific kind of tech professional. The post drew some earnest comments ("East Willy!") and plenty of backlash ("i'm begging u pls don't make this a thing"). But one reaction, from the downtown gadfly known as Nolita Dirtbag — his own moniker a reference to the neighborhood that gets its name from a mashup of North of Little Italy — asked simply for a little introspection."Listen to yourself, man."<a target="_blank" rel="" href="https://www.businessinsider.com/author/james-rodriguez">James Rodriguez</a> is a senior reporter on Business Insider's Discourse team.

The awful real-estate trend that's sweeping America

<ul><li>These scams predominantly target inexperienced job seekers who may not recognize the warning signs </li><li><keyword id="386981" type="General" weightage="20" keywordseo="scammers" source="Orion">Scammers</keyword> entice individuals with unrealistic offers or by impersonating legitimate companies </li><li>Under any circumstances, candidates should not transfer funds to unfamiliar accounts or reveal their bank/financial details </li></ul><keyword id="6953455" type="General" weightage="20" keywordseo="job-scams" source="Orion">Job scams</keyword> were always around, but ever since the pandemic and lockdowns, remote job scams have become more common. In the post-pandemic world, many companies have continued with remote work. However, others have called their employees back to the office. Some have also adopted a hybrid model where employees need to go to the office a few days every week. And the scammers are taking advantage of this trend! Why remote job scams are on the rise The increase in fake job scams, especially remote job scams can be attributed to several factors. Lots of people, especially those who got used to the remote working conditions, are now looking for remote jobs because it not only allows them to work from the comfort of their homes, it also does away with commuting and offers a better work-life balance. This is a need that remote job scammers target. Candidates often upload their personal information such as mobile number, email address, educational qualification, etc. on various online job portals during the job hunt. “Malicious parties can easily pry into such personal details and misuse them to create fake jobs. Additionally, with remote work models becoming commonplace, more candidates are falling for these traps in hopes of an opportunity without much verification,” says Sachin Alug, CEO of NLB Services, a talent solutions company. A challenging job market coupled with eager job seekers renders individuals more vulnerable to scams promising lucrative opportunities. Many of these jobs come with the promise of an entirely remote job, with a good salary and healthy benefits. “The prevalence of online job searching provides scammers with anonymity, enabling them to easily post <keyword id="18849320" type="General" weightage="20" keywordseo="fake-listings" source="Orion">fake listings</keyword> that appear authentic. The emergence of deepfakes introduces a new and concerning threat to job seekers in India, further complicating existing scams,” says Manu Saigal, Director, General Staffing, Adecco, a job consultancy. These scams predominantly target inexperienced job seekers who may not recognize the warning signs. Scammers entice individuals with unrealistic offers or by impersonating legitimate companies. This not only jeopardises the financial well-being of job seekers but also tarnishes the reputation of genuine companies, as scammers often exploit their identities to lend credibility to their schemes. Be aware of potential red flags It is possible to identify job scams if you are aware of certain red flags. “By remaining vigilant and aware of these red flags, you can significantly mitigate the risk of falling victim to fraudulent job scams and other deceptive tactics,” says Saigal. Unrealistic offers: Many such job offers are unrealistic, particularly if they offer exceptionally high salaries or benefits with minimal experience required. Also, employers in foreign countries may not be offering fully remote jobs to those in India. Fake urgency: Beware of scammers pressuring you to act quickly, bypass standard application procedures, or pay upfront fees. Reputable companies typically maintain clear and established application processes. Unprofessional communication: Watch for typos, grammatical errors, or poorly written communication in job postings or emails, as legitimate companies typically uphold professional communication standards. Requests for personal information or upfront payment: Avoid disclosing sensitive information such as bank details or social security numbers during the application process. Legitimate companies do not require payment for training or equipment prior to employment. Do not fall into the trap First and foremost, jobseekers must use authentic platforms to share their personal information. Clicking on a random link they receive in email or visiting a job site they have not heard of before is never a good idea. “When contacted for jobs, they must conduct thorough research on the offering party to validate their authenticity. A Google/LinkedIn search can be quite handy in verifying the identity of the employer/recruiter,” says Alug. Under any circumstances, candidates should not transfer funds to unfamiliar accounts or reveal their bank/financial details. Jobseekers can avoid these traps by exercising caution and doing their due diligence before responding to a job. Remember, if something is too good to be true, it probably is.

Remote job scams are on the rise! How to stay safe?

<a href="https://www.businessinsider.com/loud-quitting-job-rto-policy-bad-company-culture-2023-10"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Halfway through the week! For the first time in American history, the House voted to vacate the Office of the Speaker, <a href="https://www.businessinsider.com/kevin-mccarthy-ousted-speaker-house-first-time-history-matt-gaetz-2023-10" target="_blank" rel="noopener">booting Kevin McCarthy from his job</a>. So what happens next? Here's a list of <a href="https://www.businessinsider.com/who-is-speaker-now-mccarthy-removed-top-names-house-republicans-2023-10">top Republicans</a> who could be the next House speaker.In today's big story, we're looking at the latest workplace trend, which is <a href="https://www.businessinsider.com/loud-quitting-job-rto-policy-bad-company-culture-2023-10">a new twist on an old favorite</a>.What's on deck: <ul><li>Markets: Meet the hedge fund that's imposed <a href="https://www.businessinsider.com/how-hedge-funds-skirt-california-noncompete-ban-what-means-ny-2023-9" target="_blank" rel="noopener">some of the harshest noncompetes</a> on Wall Street.</li><li>Tech: Solving the loneliness epidemic has become the <a href="https://www.businessinsider.com/loneliness-epidemic-solutions-investment-venture-capital-2023-8" target="_blank" rel="noopener">latest big bet for investors</a>.</li><li>Business: The solution to our housing crisis might be taking a <a href="https://www.businessinsider.com/america-build-like-tokyo-housing-crisis-doom-loop-2023-10" target="_blank" rel="noopener">page out of Tokyo's book</a>.</li></ul>But first, let me tell you what you're doing wrong.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3>The big story</h3><h2>Screw you, pay me</h2><a href="https://www.businessinsider.com/loud-quitting-job-rto-policy-bad-company-culture-2023-10"></a><div type="image" title="digital illustration of businessperson climbing up stairs with briefcase in hand and money flying out of it" height="1440" width="1920" msid="104162893" hostid="261"></div>Tired: Quiet quitting.Wired: Loud quitting. No longer content to just skate by while collecting a paycheck, some workers are letting management know everything they're doing wrong. That's the takeaway from this as-told-to essay, based on a conversation with a 31-year-old tech worker in New York. Since April, they've been openly questioning leadership, calling out management, and pushing back against their decisions. And yes, we've got a term for it: "<a href="https://www.businessinsider.com/loud-quitting-job-rto-policy-bad-company-culture-2023-10" target="_blank" rel="noopener">Loud quitting</a>."They're not alone. A June report from Gallup found that 18% of employees were "<a href="https://www.businessinsider.com/what-is-loud-quitting-job-definition-2023-6" target="_blank" rel="noopener">actively disengaged</a>" at work. And I bet you can guess the group that seems to have embraced loud quitting the most: Generation Z. Gen Zers are very comfortable telling their bosses what they're doing wrong. A recent survey of Gen Z workers by Adobe found 74% are happy to <a href="https://www.businessinsider.com/gen-z-manager-feedback-compensation-not-taboo-adobe-survey-2023-10">give upward feedback to supervisors</a>. Nearly 90% were OK talking about their job satisfaction at the workplace.It's been fascinating to watch various workplace trends unfold since the onset of the pandemic.<a href="https://www.businessinsider.com/3-things-labor-shortage-people-quitting-work-afl-cio-spriggs-2021-7" target="_blank" rel="noopener">The Great Resignation</a>! <a href="https://www.businessinsider.com/job-market-hiring-trends-expect-boomerang-employees-labor-shortage-great-resignation" target="_blank" rel="noopener">Boomerang employees</a>! <a href="https://www.businessinsider.com/overachievers-leaning-back-hustle-culture-coasting-employees-work" target="_blank" rel="noopener">Quiet quitting</a>!I've largely viewed these efforts as a good thing. Yes, you should quit your job if you're unhappy. And yes, you should try to get your job back if you regret leaving (and <a href="https://www.businessinsider.com/great-resignation-pay-gap-new-hires-earning-more-2022-5" target="_blank" rel="noopener">make more money this time around</a>). And for God's sake, let's kill <a href="https://www.businessinsider.com/hustle-culture-got-america-addicted-to-work" target="_blank" rel="noopener">hustle culture</a>. That being said, there's something to consider if you want to kick up a stink on your way out the door.Sure, obvious and unjust issues at your company are worth highlighting. And feedback should always be a two-way street. But why bother fighting every decision if you've already got one foot out the door? This is a defense of your colleagues more than your boss. In reality, they'll probably have to help clean up the mess you leave behind. So, when all is said and done, you might be creating more work for your peers.What do you think about this trend? I want to hear from you: insidertoday@insider.com.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/how-hedge-funds-skirt-california-noncompete-ban-what-means-ny-2023-9"></a><div type="image" title="digital collage of legal document screenshot, Wall Street, and photo of Golden Gate Bridge" height="500" width="1000" msid="104162896" hostid="261"></div><ol><li>One California hedge fund's aggressive noncompetes could be a template for Wall Street. Restricting employees from working with rivals by offering paid leave is commonplace in finance, but The Voleon Group's <a href="https://www.businessinsider.com/how-hedge-funds-skirt-california-noncompete-ban-what-means-ny-2023-9">noncompetes haven't always included payment</a>, according to ex-employees. And the $5 billion quant fund has done so despite California labor laws banning the enforcement of noncompetes.</li><li>Ray Dalio said he doesn't want to come back to run Bridgewater. The billionaire denied a recent New York Times report saying he was <a href="https://www.businessinsider.com/ray-dalio-ramping-up-family-office-not-returning-to-bridgewater-2023-10" target="_blank" rel="noopener">considering returning to the hedge fund</a> he founded and ran for decades. "Don't trust the media," Dalio said while speaking at a conference.</li><li>Understanding this will-it-won't-it recession. Depending on who you ask, the US economy is either <a href="https://www.businessinsider.com/fed-reserve-economists-goldilocks-recession-inflation-economy-markets-powell-investors-2023-9" target="_blank" rel="noopener">likely to avoid a recession</a> or <a href="https://www.businessinsider.com/us-economy-outlook-rollercoaster-inflation-full-employment-recession-stocks-blackrock-2023-7" target="_blank" rel="noopener">about to face a really bad one</a>. LinkedIn's chief economist explains why a recession is <a href="https://www.businessinsider.com/recession-outlook-economy-fed-soft-landing-central-bank-linkedin-economist-2023-10">still on the table</a>.</li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/loneliness-epidemic-solutions-investment-venture-capital-2023-8"></a><div type="image" title="digital illustration of people surrounded by others on their phones" height="960" width="1920" msid="104162898" hostid="261"></div><ol><li>The loneliness market: A gap that investors are trying to fill. New services — backed by VC money — are trying to help <a href="https://www.businessinsider.com/loneliness-epidemic-solutions-investment-venture-capital-2023-8" target="_blank" rel="noopener">facilitate real-life interactions</a>.</li><li> Meta has been using your public Insta and Facebook posts to train AI. The company just launched a cadre of virtual assistants. Its users <a href="https://www.businessinsider.com/meta-train-ai-public-post-instagram-facebook-2023-10" target="_blank" rel="noopener">helped train the new technology</a>, but Meta said private messages and posts weren't touched.</li><li>The roadblock of getting companies to buy AI products. Companies are clamoring for AI. But many startups are <a href="https://www.businessinsider.com/ai-startups-face-procurement-hurdles-for-enterprise-saas-sales-2023-10">struggling to cross the sales finish line</a> due to issues like data concerns and education on the basics of the tech.</li></ol><h2>3 things in business</h2><a href="https://www.businessinsider.com/america-build-like-tokyo-housing-crisis-doom-loop-2023-10"></a><div type="image" title="digital illustration of red japanese-style home in the midst of white skyscrapers" height="960" width="1920" msid="104162900" hostid="261"></div><ol><li>America could solve its housing crisis by following Tokyo's example. Housing is getting less and less affordable in American cities — even in the Sunbelt. But affordability isn't a problem <a href="https://www.businessinsider.com/america-build-like-tokyo-housing-crisis-doom-loop-2023-10" target="_blank" rel="noopener">in Tokyo, the world's biggest city</a>. And it's largely thanks to giving developers a lot of power to build what they want, when they want.</li><li> JPMorgan's CEO thinks our children will only work 3.5 days a week, thanks to AI. Many leaders have already been advocating for a four-day workweek, so the rise of AI could make <a href="https://www.businessinsider.com/jpmorgan-ceo-jamie-dimon-ai-day-shorter-work-week-2023-10" target="_blank" rel="noopener">the shortened week</a> more possible.</li><li>Airbnb hosts are relieved the company is planning to give them more support. CEO Brian Chesky admitted that it "never fully built the foundation" to match its current size. Hosts revealed a variety of issues they're excited to see addressed, including <a href="https://www.businessinsider.com/airbnb-hosts-glad-that-ceo-says-its-time-to-get-our-house-in-order-2023-10" target="_blank" rel="noopener">fake listings and fees</a>.</li></ol><h2>In other news</h2><a href="https://www.businessinsider.com/grimes-sues-elon-musk-parental-relationship-children-petition-2023-10"></a><div type="image" title="Elon Musk (left) and Grimes (right)." height="768" width="1024" msid="104162903" hostid="261"></div><ul><li>Singer Grimes is suing Elon Musk — with whom she has three children — over "<a href="https://www.businessinsider.com/grimes-sues-elon-musk-parental-relationship-children-petition-2023-10" target="_blank" rel="noopener">parental relationship</a>."</li><li>A New York judge told Trump to <a href="https://www.businessinsider.com/trumps-trial-judge-issued-gag-order-over-attacks-on-clerk-2023-10" target="_blank" rel="noopener">stop posting online</a> about his staff.</li><li>From <a href="https://www.insider.com/birthday-free-items-photos-tiktok-hacks-2023-9" target="_blank" rel="noopener">cookies to beauty products</a>, here are all the free birthday items one person has redeemed.</li><li>Gen Z workers want more training on <a href="https://www.businessinsider.com/gen-z-workers-want-more-training-hard-skills-survey-2023-10" target="_blank" rel="noopener">hard skills related to their jobs,</a> instead of soft skills like communication.</li><li>SoftBank-backed startup Sendoso completed <a href="https://www.businessinsider.com/softbank-backed-startup-sendoso-axed-headcount-fourth-time-16-months-2023-10" target="_blank" rel="noopener">another round of layoffs</a>, its fourth in 16 months.</li><li>MrBeast called out TikTok for letting a <a href="https://www.businessinsider.com/tiktok-ran-deepfake-ad-mrbeast-as-ai-generated-content-spreads-2023-10" target="_blank" rel="noopener">deepfake version of him</a> hawking $2 iPhones run wild on the app.</li></ul><h2>What's happening today</h2><ul><li>Made by Google product launch. The live event will start at 10 a.m. ET. Google is expected to announce a variety of new devices, including the Pixel smartphone.</li><li>Goal! A documentary about David Beckham comes out on Netflix. "Beckham" tells the story of his upbringing in east London.</li><li>World Space Week kicks off. This week is meant to celebrate space science and technology worldwide. The 2023 theme is "Space and Sustainability."</li><li>Earnings today: Tesco <a href="https://markets.businessinsider.com/earnings-calendar" target="_blank" rel="noopener">and other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>Disney World mistakes</h2><a href="https://www.insider.com/disney-world-mistakes-to-avoid-former-employee-annual-passholder"></a><div type="image" title="pumpkins stacked outside of house in Disney world" height="975" width="1300" msid="104162904" hostid="261"></div>A former Disney World employee reveals common mistakes that tourists make. The <a href="https://www.insider.com/disney-world-mistakes-to-avoid-former-employee-annual-passholder" target="_blank" rel="noopener">eight mistakes</a> include buying merch too late in the day and giving up on your desired dining reservation.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

'Loud quitting' is the newest workplace trend, but it might not result in the type of impact you hope for

<ul class="summary-list"><li>Cash and checks are declining but not disappearing.</li><li>Debit, credit, and prepaid cards will compete for growing digital spending.</li></ul>Although debit still reigns supreme, with consumer preferences moving toward digital, cash and checks will continue to be displaced in the US. Consumer interest has been skewing toward digital alternatives, and cash is taking a major hit: Less than one-fifth (19.0%) of US adults cited cash as their preferred method for in-person spending in 2021, according to the Federal Reserve Banks. Younger consumers and fewer low-value purchases are driving the dissipation of cash. But even though cash usage is dwindling, the Federal Reserve reports that 79% of US adults still hold cash daily. It is suspected that the wide availability of ATMs, state requirements for stores to accept cash, and typical weekly purchases among Black and Hispanic adults will keep cash from completely fizzling out. Along with cash, checks are trending downward: In October 2021, just 46% of US adults stated that they had used a check in the past 30 days, according to the Federal Reserve. Generally, consumers use checks for infrequent, high-value transactions. However, with the increasing availability of online bill pay and mobile peer-to-peer payment apps, digitization and convenience are hastening the check decline. Additionally, business transactions made with checks plummeted to 33.0% in North America last year due to a need for more efficient reconciliation, better fraud control, and cost savings, according to an Association for Financial Professionals survey. Cash and check usage may be dwindling, but debit and credit cards are seeing upticks among economic uncertainty. With that being said, an estimated 82% of US adults have access to a debit card, per Pulse, making growth difficult. For credit cards, the risk lies in the ability for consumers to make minimum payments paired with less frequent high-ticket purchases as concerns about inflation and job security persist. In order to circumvent these risks and keep consumers spending, issuers are beefing up their rewards programs. Another winner of the pandemic has been buy now, pay later (BNPL) as it combines the flexibility of credit with short repayment terms, app-based shopping, and a simple user experience. So long as consumers are struggling to make ends meet, merchant acceptance rates continue to increase, and new entrants improve accessibility, BNPL will keep growing and threatening the use of credit cards. As consumers become more concerned about the economy and job security while also steadily adopting new digital solutions, we are seeing shifts away from traditional payment methods. Curious to learn more about the state of payment methods? Click <a href="https://store.emarketer.com/products/the-state-of-payment-methods-more-choice-and-economic-changes-are-affecting-how-consumers-spend" target="_blank" rel="noopener">here</a> to purchase this report directly from Insider Intelligence. Looking for more data? Click <a href="https://store.emarketer.com/products/the-payments-ecosystem-2023-the-key-trends-changing-how-providers-compete-for-customers-and-transactions" target="_blank" rel="noopener">here</a> to purchase The Payments Ecosystem 2023 collection.

The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend

The State of Payment Methods: More Choice and Economic Changes Are Affecting Consumers Spend

Delhi-NCR has emerged as India's digital payments capital whereas Tamil Nadu's Katpadi is the fastest growing city for digital payments with 7X growth in 2022, One97 Communications Limited (OCL), that owns leading payments and financial services company <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion" topicspecial.url="https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms">Paytm</keyword>, said in a report on Wednesday. The company helped its users avoid 1,618,796,629 trips to ATMs. Paytm is taking digital payments far and wide, driving financial inclusion with two out of three of its new users coming from smaller cities and towns. According to the aPaytm 2022 Recap' report, which highlighted interesting trends of transactions made through Paytm in 2022, <keyword id="6076084" type="General" weightage="20" keywordseo="Paytm-UPI" source="Orion">Paytm UPI</keyword> is one of the most preferred payment methods for Indians, with its superfast and secure payments. An intriguing observation is that the maximum number of payments have been done at 7.23 p.m. with Wednesday emerging as the busiest day in the week for digital transactions. Two of the most common names among Paytm's users are Rahul and Pooja, according to the report. Chennai and Trichy in Tamil Nadu have the highest percentage of offline payments on food and beverages while Amritsar saw the highest spend on health and grooming through Paytm. Noida and Nagpur saw the highest percentage of spending via Paytm on micro sellers or street side vendors. Paytm's market in the North East also saw huge growth. The fastest growing cities in the North East for UPI transactions are -- Lohit in Arunachal Pradesh, South Sikkim and Ranipool, and Assam's Guwahati, Dibrugarh, Jorhat and Kamrup, the report mentioned. "As the pioneer of QR and mobile-based payments in India, we continue to see widespread love for the most trusted payments app -- Paytm," said a company spokesperson. "Over the last year, we have seen greater adoption among consumers and merchants, leading to some interesting trends with Paytm UPI leading the way. With the trust bestowed upon us by our users, we remain focused on driving financial inclusion in India," the spokesperson added. One user made transactions in 106 cities across 20 states. Another user booked flights between Mumbai and Delhi 358 times using the Paytm app, said the report. Paytm continues to strengthen its leadership in offline payments with more than 5.5 million merchants now paying subscriptions for payment devices. <keyword id="9418617" type="General" weightage="20" keywordseo="Paytm-Soundbox" source="Orion">Paytm Soundbox</keyword> is the sound of merchant transactions in India, with a new merchant and their customers being greeted by its melody every six seconds. With Paytm UPI, the company enables seamless and superfast money transfers. One user referred more than 1,300 of his friends and family to Paytm last year and earned over Rs 1 lakh. "Engaging observations have been seen in merchant transactions with Rs 20 being the most common amount paid on <keyword id="4053117" type="General" weightage="20" keywordseo="Paytm-merchant" source="Orion">Paytm merchant</keyword> QRs. Varanasi has seen 213 per cent growth in Offline QR transactions," the findings showed. During the online Diwali sale season, the highest amount spent by a single user was Rs 2.8 lakhs. Another festival that saw a high volume of Paytm UPI transactions is Rakhi, with Rs 1,100 being the favourite "shagan". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/most-anticipated-indian-movies-releasing-in-2023/slidelist/96560782.cms">SRK, Rajnikanth, Ranveer Singh to fire up the silver screens in 2023: most-anticipated Indian movie releases</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-digital-ad-spend-estimated-to-surge-to-21-billion-in-the-next-five-years-rising-2-5x-over-fy22-levels-says-redseer/articleshow/96544113.cms">India’s digital ad spend estimated to surge to $21 billion in the next five years, rising 2.5x over FY22 levels, says Redseer</a>

You Searched For "online payment trends" and got 11 results

78 pc of consumers choose digital banking over cash transactions

ANI

India's non-cash payments on e-commerce platforms surge to 58.1% in 2023

ANI

The awful real-estate trend that's sweeping America

James Rodriguez

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'Loud quitting' is the newest workplace trend, but it might not result in the type of impact you hope for

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The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend

Insider Intelligence

The State of Payment Methods: More Choice and Economic Changes Are Affecting Consumers Spend

Insider Intelligence

The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend

Insider Intelligence

Tamil Nadu's Katpadi is the fastest growing city for digital payments: Paytm report

IANS

The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend

Insider Intelligence

The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend

Insider Intelligence

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