Category: Brandpoint Business & Finance

2025-02-19T10:01:00

(BPT) – By Ned Monroe

PVC pipe has played a key role in water conveyance around the world for more than 70 years. As U.S. municipalities face aging infrastructures and ensuing, costly water loss, PVC is providing a reliable choice to supply their communities with clean, safe drinking water.

Competing pipe materials may try to make you believe PVC isn’t a good option. But the facts don’t lie: Decades of proven performance and testing demonstrate the long-term safety, reliability, and sustainability that PVC pipes ensure for water utilities serving communities around the country.

1. PVC Pipes Are Safe

PVC pipes comply with the rigorous NSF International standard, NSF/ANSI 61: Drinking Water System Components – Health Effects. NSF International uses exhaustive testing methods to establish independent standards to ensure the safety of clean drinking water — standards all drinking water pipe materials, including PVC, must adhere to. The standard is routinely monitored and updated by a joint committee comprised of public health experts, end users, and industry members. Manufacturer certification of PVC pipe to NSF/ANSI 61 means that it is safe for use in drinking water piping applications.

2. PVC Pipes Are Built to Last

Communities across the U.S. lose billions of gallons of water a day to aging infrastructure. The good news is that many municipalities are solving these problems by installing durable, reliable PVC pipe.

Testing of in-service water systems from around the world shows that PVC pipes have a service life in excess of 100 years. In fact, a 2023 report on water main breaks in the U.S. and Canada by Utah State University found that PVC pipe has the lowest overall failure rate compared to three other commonly used piping materials.

3. PVC Pipes Save Taxpayers Money

Together, communities across the U.S. lose an estimated 6 billion gallons of treated water a day to aging infrastructure, according to a 2021 report by the American Society of Civil Engineers.

America faces a massive aging metal infrastructure problem, but PVC pipe is a durable solution. In addition, it takes up to 54% more energy to pump water through an 8-inch ductile iron pipe than it does through an 8-inch PVC pipe during the life of the system, because PVC’s surface remains smooth throughout. Sixty-eight percent of water supply pipes in the U.S. are 8 inches or smaller; over the life expectancy of the system, using PVC rather than ductile iron pipe in this size range could reduce the nation’s pumping costs by $21 billion.

4. PVC Pipes Are Climate Friendly

A life cycle assessment carried out by Sustainable Solutions Corporation revealed that from a life cycle and carbon footprint perspective, PVC has lower environmental impacts — lower embodied energy, lower use-phase energy, and longer life attributes — compared to materials like iron, cement, and clay. When considering the impacts throughout the product life cycle, PVC pipes require much less energy to manufacture and transport, and they can operate for more than a century and need fewer replacements over their lifetime.

PVC Is the Ideal Choice

With decades of proven performance, reliable safety, and tremendous cost-saving opportunities, PVC pipes have become a go-to option for water utilities around the U.S. When the time comes to replace aging infrastructure, there’s simply no smarter option than PVC.

To learn more about the research and citations behind these findings and to get involved, visit www.vinylinfo.org/uses/pvc-pipe-report.

Ned Monroe is CEO of the Vinyl Institute.

2025-01-21T09:01:00

(BPT) – The heating, ventilation and air conditioning (HVAC) industry is undergoing a significant transformation, shifting towards AI-driven solutions, clean technology and highly-efficient systems tailored to diverse regional needs. Embracing this shift, LG Electronics (LG) is leveraging its outstanding core technologies, AI and intimate knowledge of different industries to deliver HVAC solutions for a smarter, more efficient future.

LG’s dynamic HVAC business continues to expand its market presence and capabilities, investing heavily in R&D to develop innovative technologies for a new generation of eco-responsible temperature control and air quality systems. Over the past three years, it has achieved double-digit annual sales growth, making it one of LG’s fastest-growing concerns and an important driver of the company’s substantial and ongoing success in the B2B sector.

LG offers a comprehensive lineup of HVAC solutions optimized for a wide range of spaces, including residential, public, commercial and industrial. Its portfolio features large-capacity chillers — which are rapidly becoming the preferred choice for AI data centers where advanced and reliable heat management is essential — as well as an array of commercial and residential air conditioning systems. Utilizing cutting-edge technologies such as high-efficiency heat pumps, LG’s HVAC products provide outstanding cooling and heating performance and are widely acknowledged as effective electrification solutions suitable for replacing traditional fossil-fuel-driven systems.

In recognition of its efforts to lessen the environmental impacts of its HVAC solutions, LG has been named the “Most Sustainable Brand” in the HVAC category by Green Builder Media, a respected North American media outlet focusing on eco-friendly construction. In the U.S. and other countries, the company has created “locally self-sufficient operation systems” that encompass all key HVAC business functions — from R&D to maintenance and repair — and are tailored to local needs.

LG is also strongly committed to delivering dependable, energy-efficient heat pump solutions for regions affected by unrelentingly low temperatures. To this end, the company has established a global consortium focused on R&D for cold-climate heat pumps with bases currently operating in Alaska (U.S.), Oslo (Norway) and Harbin (China) — all places that endure frigid winter conditions.

Last September, LG hosted the first-ever meeting of the Global Heat Pump Consortium in Seoul, South Korea, where LG’s HVAC experts and academic partners gathered to discuss the collaborative projects being undertaken by each of the consortium’s regional clusters. In addition to the consortium’s R&D labs, LG operates five Air Solution Research Centers (with locations in South Korea, North America, Europe and India) and runs a total of 62 HVAC academics across 43 countries. These academies, which train over 30,000 engineers annually, are helping to support the global adoption of the company’s advanced HVAC technologies.

LG’s competitive edge in HVAC is driven by its unmatched “Core-Tech” capabilities. By developing essential components like compressors and motors in-house, LG strives to ensure that all of its products deliver the first-class reliability and efficiency that its customers have come to expect. Its oil-free centrifugal chillers incorporate LG-designed magnetic bearings, impellers, compressors and heat exchangers. These chillers also leverage LG’s highly evolved AI Engine to enable predictive control and to ensure outstanding stability and performance. LG’s AI Engine even provides intelligent surge prevention, a feature that is critical for data centers, where any interruption in operation can potentially mean inconvenience for millions.

With a solid foundation of R&D, a proven track record of innovation and a commitment to sustainability-focused design and management, LG continues to reinforce its reputation as the global leader in HVAC. From pioneering a new generation of data center cooling solutions to advancing high-efficiency heat pump technologies for harsh climates, the company is doing all that it can to help usher in a smarter, more efficient future.

By James Lee, President of LG Electronics ES Company

2025-01-16T08:01:00

(BPT) – A new year is a great opportunity to develop better habits and improve your health and wellness. Perhaps that involves revamping your workout routine or investing in a skincare regimen. As you start to think about the new year, make sure to include a comprehensive eye exam at the top of your list.

A normal part of aging

Just like the rest of your body, your eyes change as you age, and you may find it harder to see. You’re not alone. According to the World Health Organization (WHO), more than two billion people around the world suffer from visual impairment, a number expected to double by 2030.¹

While these numbers may be concerning, take heart. Many vision conditions are treatable. A step you can take today to assess and preserve your vision — as well as your health — is to schedule a comprehensive eye exam.

Your eyes are windows into your overall health and wellness

An eye care professional can do much more than assess your vision. Your eyes can actually reveal many details about your overall health and wellness.

A comprehensive eye exam can help detect over 270 different medical conditions, from diabetes to heart disease.² Despite its importance, many adults over 40 around the globe tend to prioritize staying active, maintaining a healthy diet or skincare over regular eye exams in their journey to aging well.

“Not only can an eye exam assess the health of your eye,” said Dr. Christi Closson, Associate Director of Professional Education, Vision, Johnson & Johnson, “it can do so much more, such as providing insight into your overall health and well-being as you age.² It is critical for everyone to stay on top of their vision and eye health, and make time for an annual comprehensive eye exam.”

Presbyopia and cataracts: Common age-related vision conditions

If you’re over 40, it’s critical that you’re aware of common vision conditions and their symptoms.

Presbyopia — another name for age-related farsightedness — describes a person’s decreased ability to see nearby objects, especially in low light.⁴ For example, you may notice that it’s become more difficult to read texts on your phone, so you hold it at arm’s length.

“As you age, the lens inside your eye becomes more rigid, making it difficult for your eyes to focus on text or objects that are up close,” said Dr. Closson. “However, presbyopia happens to everyone and is easily treatable. In fact, there are multifocal contact lenses designed to help with this vision impairment without invasive interventions.”

Another condition to be aware of as you age (especially if you’re over 60) is cataracts. A physical sign of cataracts is clouding in the eye that makes it hard to see. However, you may also notice that lamps, sunlight and headlights seem too bright or that colors look faded.⁵ If left untreated, cataracts can lead to blindness.

Modern technological advancement has made cataract treatment a minimally invasive out-patient procedure that typically takes 15 to 30 minutes to complete, depending on the severity of the condition. Cataract treatment* can also improve other eye conditions like nearsightedness, farsightedness and astigmatism.⁶

See clearly now and beyond

If you want to live your best while feeling your best at every age, it’s time to get serious about your eye health. To find an eye doctor near you and schedule a comprehensive eye exam, visit ClearVisionForYou.com/Find-A-Doctor.

References

1. World Health Organization. Increasing eye care interventions to address vision impairment. Available at: https://www.who.int/publications/m/item/increasing-eye-care-interventions-to-address-vision-impairment#:~:text=Globally%2C%20at%20least%202.2%20billion,%2Dincome%20countries%20(LMICs).

2. American Optometric Association. See the Full Picture of Your Health with an Annual Comprehensive Eye Exam. Available at: https://www.aoa.org/healthy-eyes/caring-for-your-eyes/full-picture-of-eye-health?sso=y.

3. Mayo Clinic at: https://www.mayoclinic.org/diseases-conditions/presbyopia/symptoms-causes/syc-20363328

4. National Eye Institute. Cataracts. Available at: https://www.nei.nih.gov/learn-about-eye-health/eye-conditions-and-diseases/cataracts.

5. American Refractive Surgery Council. Cataract Surgery. Available at: https://americanrefractivesurgerycouncil.org/cataract-surgery/#:~:text=Vision%2DCorrecting%20IOLs?-,Cataract%20surgery%20removes%20the%20clouded%20natural%20lens%20and%20replaces%20it,nearsightedness%2C%20farsightedness%2C%20and%20astigmatism.

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* RISKS

There are risks to routine cataract surgery. This is irrelevant to the lens you choose. The problems could be minor, temporary, or affect your vision permanently. Complications are rare. These may include worsening of your vision, bleeding, or infection. Pre-existing diseases or conditions may place you at higher risk of experiencing complications (e.g., more difficult recovery) after routine cataract surgery. Examples of pre-existing diseases or conditions are diabetes, heart disease and previous trauma to your eye.

With some IOLs, you may experience some loss in the sharpness of your vision, even with glasses. With these IOLs, you may have more difficulty driving at night or in poor visibility conditions. This can affect your ability to detect road hazards as quickly at night or in fog. You may also experience halos (rings around light), glare (reflected light, making it difficult to see) and starbursts (rays around light). A small number of patients may want to have their IOL removed. This can be due to lens-related optical/visual symptoms. You should discuss all risks and benefits with your eye doctor before surgery.

2025-01-15T12:49:00

(BPT) – Remember when digital payment transactions used to take three to five business days? Even transferring funds between accounts seemingly took forever. And, if you were splitting the bill with someone at a restaurant, there was nothing fast about it. You’d give them a check … and then it would take three to five days to clear. It seems so antiquated now. In today’s digital world, that kind of time lag simply isn’t acceptable to many people.

According to a survey by PYMNTS Intelligence, nearly three-quarters of surveyed consumers want their disbursements paid to them instantly, but only one-third receive them that way. That’s one reason Visa is making funds transferred to U.S. bank accounts with Visa Direct available in 1 minute or less starting in April 2025.

Visa Direct is Visa’s global solution for real-time money movement, which provides innovative ways to enable businesses, service providers and consumers to send funds to bank accounts using eligible debit cards. Visa Direct reaches 99% of bank accounts in the U.S.^[1].

“This change underscores Visa’s commitment to accelerating real-time payments in the U.S.,” said Jim Filice, VP, Head of Domestic Real-time Payments, Visa Direct. “At Visa, we are constantly striving to innovate and provide the best possible money movement experiences, and this update will significantly enhance speed and convenience, while maintaining strong security standards.”

Visa Direct supports multiple use cases such as person-to-person payments and account-to-account transfers, business and government payouts to individuals or small businesses, merchant settlements and refunds^[2]. But what does near real-time payments really mean for end users? Here are the top three benefits.

Speed and Convenience

With funds available in someone’s bank account in a minute or less, U.S. cardholders can access their funds in their bank account almost immediately, without having to wait. So, if you foot the bill in a restaurant and your companion sends you a digital payment to cover their share, you’ll have those funds available to take an Uber home.

Going hand-in-hand with speed, the convenience of being able to make and receive faster payments is a huge win for individuals and businesses alike. A waiting period, even if it’s just an hour, seems like a burden now, doesn’t it? We all need the convenience of having our funds available in our bank account quickly.

Security

Have you ever wondered about the security of sending digital payments through a third-party app powered by fintech? Ever had a moment of trepidation when attaching your bank account information to something with no brick-and-mortar?

Visa Direct is built on Visa Net, which has been operating and advancing for more than 60 years, with proven value-added services that address the needs of new risk^[3] and security concerns that have come up as a result of moving money in real time. With security a top priority, Visa has saved consumers and merchants billions by proactively disrupting fraud and working with government partners, including the intelligence community and law enforcement.

Accessibility and Inclusion

According to the FDIC, 5.6 million households in the U.S. are “unbanked,” meaning, people don’t have a bank account. Expanding financial access for consumers and small businesses is pivotal nowadays, and banks are under pressure to quickly implement and launch programs for their customers that stay ahead of their expectations.

Digital wallets are the fastest-growing payment method in the U.S., providing a fast, secure and convenient tool for sending and receiving funds — bank account not required.

Visa works with enablement partners to help expand financial access for individuals, opening the potential for greater financial inclusion and enabling underserved populations the opportunity to access financial products that impact how they live and work.

In addition to enhancing the cardholder’s experience, this new mandate from Visa Direct helps opens new avenues for businesses and governments to grow and thrive. Whether it’s disbursing government benefits, processing healthcare payments, or handling tips in the service industry, the improved reliability of faster funds empowers businesses and governments to operate in real-time more effectively.

Visa Direct is helping to transform money movement, whether it’s around the corner or around the world. It’s enabling a new wave of financial freedom, today. To find out more, visit usa.visa.com/products/visa-direct.html.

2025-01-13T04:01:00

(BPT) – The next generation of energy technologies is coming online, delivering energy that is more affordable, reliable and cleaner than ever before. But what happens to the older generation of power plants as they reach the end of their operational lives? What if those closures directly affected your livelihood — or the economy of your town? This is the challenge facing the power industry today. Nearly a quarter of coal plants in the U.S. are scheduled to be shuttered by 2029, according to the U.S. Energy Information Administration.

Many of these plants are the major employers in their small towns. What happens to those towns when the plants close? It means a loss of employment and it reverberates through all aspects of the community. Retail stores. Restaurants and diners. Everything in the local economy takes a hit when a major employer like a coal power plant closes.

But, what if those plants could be repurposed into something else? It would keep people working, the town diners hopping, the local merchants busy and everyone happy.

Coronado: A case study

That’s just what’s being studied at the Coronado coal power plant near St. John’s, Arizona, which is scheduled to be retired in 2032. In a joint blog, the Bipartisan Policy Center and Terra Praxis highlight that Coronado is part of a study to repurpose coal plants into nuclear power plants, which would not only help keep the local economy humming, but also power the region with energy.

The study conducted by The Idaho National Laboratory’s Gateway for Accelerated Innovation in Nuclear (GAIN) program highlighted significant regional economic and workforce benefits from transitioning the Coronado power plant to nuclear energy. GAIN compared the potential regional economic outcomes of allowing the existing plant to retire versus repowering it.

The findings suggest that a coal-to-nuclear conversion could prevent economic decline, help support regional growth and create additional employment opportunities, potentially surpassing the benefits of continued coal operations.

What’s happening nationwide

With nearly a quarter of the U.S. coal-fired fleet scheduled to retire by 2029, replacing retiring coal power plants with advanced nuclear, specifically small modular reactors (SMR), has been put forth as a strategy to maintain local employment and economic opportunities for existing energy workers and communities, while simultaneously meeting the growing demand for reliable and resilient power and pursuing national climate goals.

Of those plants that are scheduled to retire, the Bipartisan Policy Center reports 80% of evaluated coal plants have the basic characteristics needed to be repowered by an SMR, according to a Department of Energy study analyzing recently and soon-to-be retired coal plants.

That means they have the location, land use types, energy output levels and other factors needed to convert them.

Why do it?

Potential benefits of coal-to-nuclear projects

The Bipartisan Policy Center and Terra Praxis outline several possible key benefits to these projects. According to their research:

• Nuclear energy provides firm, dispatchable clean energy, maintaining grid reliability while pursuing climate goals.
• 77% of coal plant jobs are transferable to nuclear plants with no new workforce licensing.
• Net increase of more than 650 jobs could be created in regions where SMRs repower retiring coal plants.
• Jobs at nuclear plants provide higher wages compared to coal plants, which would boost local tax revenue.
• SMRs can reuse coal plant transmission infrastructure, reducing SMR construction cost and avoiding some permitting challenges.
• SMRs can reuse coal plant electrical equipment and steam-cycle components, which, combined with reuse of transmission and administrative buildings, can reduce SMR construction cost by 17% to 35%.

Challenges that remain

This effort isn’t without challenges. Some hills to climb include:

• Coal plant retirement and SMR operation dates must be aligned for a smooth workforce transition.
• Licensing and technological infancy create uncertainties for SMR construction timelines.
• Some coal plant positions will require extensive retraining or licensing to transfer to a nuclear plant, including operators, senior managers and technicians.
• Some states have laws restricting new nuclear development, which can limit overall coal-to-nuclear opportunities.

The Bipartisan Policy Center is a mission-focused organization helping policymakers work across party lines to craft bipartisan solutions. By connecting Republicans and Democrats, delivering data and context, negotiating public policy, and creating space for bipartisan collaboration, BPC helps turn legislators’ best ideas into durable laws that improve lives. Since 2007, the Bipartisan Policy Center has helped shepherd countless bills across the finish line.

2025-01-09T07:01:00

(BPT) – Small businesses are the backbone of the American economy. They are at the heart of communities, creating jobs, driving innovation, and cultivating local pride. In fact, small businesses make up 99.9% of all companies and employ nearly half of the private workforce, according to the U.S. Small Business Administration.

From the Main Street auto shop to the neighborhood dentist, these businesses embody the entrepreneurial spirit that fuel our nation. Their success is vital to our collective prosperity and the U.S. economy.

That’s why Synchrony partners with hundreds of thousands of small businesses and health and wellness providers, offering flexible financing solutions to help them better serve their customers and communities as well as smart tools and resources to help them grow.

To thrive in today’s competitive and ever-changing market, here’s key proven advice from Synchrony’s small business partners who have successfully adapted to change and bolstered their resilience.

Tip #1: Take Personalization to the Next Level

In a marketplace saturated with choices, small businesses must offer more than great products. Creating a personalized customer experience is essential. This means going above and beyond to provide hyper-personalized experiences that resonate with each customer’s unique needs and preferences.

Data analytics is a powerful tool that can help you understand what your customers like, tailor your offerings and discover new opportunities for growth. Like hospitality and retail businesses use data for personalized rewards, you can use data in your industry to better understand your customers, identify high-value new customer segments, optimize marketing and sales strategies, and deepen customer loyalty.

And the post-purchase experience is also key to building lasting customer relationships. For instance, a first-time ATV buyer who is an aspiring powersports enthusiast needs more than just the vehicle. They need gear, training, licensing information, trail recommendations, and maintenance tips. For dealers, this is your chance to introduce the many service offerings that are available to them before they walk out the door and create a rewarding, enduring experience.

Tip #2: Flex to the Way Customers Want to Pay

Offering flexible financing benefits both your business and your customers. It gives customers access to the products and services they want, while providing small businesses with a steady stream of revenue and working capital to grow and serve more people. This is especially important in sectors like health and wellness, where insurance may not cover all the costs.

Dr. Peter Drews of Drews Dental Services in Maine uses financing to better serve his patients’ needs and streamline his business. By offering CareCredit, a Synchrony financing solution, his patients have the option to pay for the care they want over time and within their budget. This approach not only helps customers manage their finances, but also streamlines the practice’s operations and allows more time and focus for patient care.

Consider introducing financing options that fit your business and help your customers make purchase decisions with confidence.

Tip #3: Invest in Your Employees’ Tech Skills

Your employees are your greatest asset. Investing in their technical skills is a crucial investment in the future success of your business. Providing training and development opportunities that will empower your employees will help deliver exceptional service and enhance their job satisfaction.

Muffadal Simba of Merlin Complete Auto Care in Chicago understands this principle. By investing in new technology, including digital vehicle inspections and upgrading his team’s technical skills, he ensures his staff can provide top-notch, personalized service to every customer. “Teaming up with Synchrony has helped us better reach our customers and grow our business,” said Simba. “We’ve been able to significantly increase sales by investing in new technology using a Synchrony small business grant.”

Explore setting up training workshops, online courses, or mentorship programs to keep your employees’ skills sharp and relevant.

Tip #4: Engage the Community

Getting involved in your community can help your small business build strong connections with people and contribute to the well-being of your local neighborhood. By actively participating in community events, supporting local initiatives, or addressing area needs, you build goodwill, strengthen your relationship with potential customers, and create a lasting impact.

Take Jolene Fitch from Finger Lakes Fabrics as an example. Her quilt shop in Skaneateles, New York, brings the local crafting community together to collaborate with nonprofits and host fundraisers, blanket drives, and hat drives. When Fitch first opened her shop, she distributed 115 free fabric and pattern kits to the community, giving people a chance to handmake and design pillows that were then donated to Sleep in Heavenly Peace, a charity that supplies beds to children in need.

Tip #5: The Best Small Businesses Lift Up Other Small Businesses

Collaboration and mutual support are vital within the small business ecosystem. By supporting other local businesses, you create a network of shared success. This could involve recommending their services, collaborating on projects, or simply offering advice and mentorship.

Ben Stowe of NLFX Professional in Minnesota exemplifies this collaborative spirit. By partnering with manufacturers to offer symposiums and seminars, in addition to selling lighting, audio, and video equipment, he’s not only supporting his own business but also empowering other entrepreneurs with valuable skills and knowledge.

Adopting these strategies is key for small business owners to forge a path toward long-lasting success, contributing to both their bottom line and the vibrancy of their communities. By investing in your business and your community, you’re investing in a brighter, stronger future.

2024-12-24T05:01:00

(BPT) – With all the talk about the economy lately, how did the 2024 holiday shopping season shake out? Were people buying? If so, how did their spending compare to past years? What and where were they buying?

Visa dove into some analysis of the holiday season, via the Visa Retail Spend Monitor, from Visa Consulting & Analytics. The Retail Spend Monitor looks at total retail sales activity across all forms of payments, not just Visa. It uses a subset of Visa payments network data, which processes a staggering 234 billion transactions per year — that’s 639 million each day.

It found that, overall, during the seven-week period starting on November 1, retail spending in the U.S. increased by 4.8% from last year.

“This holiday shopping season, we’re seeing strong consumer confidence as people sought out in-store experiences — and went online — to purchase gifts and celebrate the holidays with friends and family. This spending growth demonstrates the adaptability of both consumers and retailers and the overall strength of the economy,” said Wayne Best, chief economist at Visa.

Here are some highlights of what the analysis found.

We’re going back to the mall… Out of total retail spend in the U.S., 77% was in store versus 23% online. This led total retail spend in stores to grow at a healthy rate of 4.1% (vs 1.6% last year).

…but we still love the convenience of online shopping. It’s so easy to buy what you need from the comfort of your home or office with just a few clicks. Online shopping increased by 7.1%, versus 10.3% last year. It’s not just about convenience, though. Shoppers like how easy it is to compare prices online and look for the best deals.

People still love their electronics… This sector of the retail market had a 4.2% growth rate vs. 2.8% last year. It was driven by new products, holiday deals and home entertainment technology.

…and always love their clothing and accessories. Did you unwrap a festive holiday sweater? You’re not alone. Clothes saw a 5% rise in sales, versus 2.4% last year.

We were nesting, too. Sales of building materials increased by 4.7%, versus a negative 3.9% last year. It means we were making our homes cozy for the holidays.

The whole world was shopping! Across the globe, holiday shoppers were spending. Brazil saw a 12.2% increase, while South Africa experienced 7.0% growth. Both regions enjoyed double-digit growth across all five merchant categories. The U.K. joined the festive cheer with a 2.3% rise, and Australia saw a 7.4% bump in overall spend.

Grinchy fraudsters were still at it. Fraudsters doubled down this year, with Visa reporting that it blocked nearly double the amount of suspected fraud this year versus 2023 during the weekend of Black Friday through Cyber Monday.

What does it all mean? It means people were spending with confidence, and their loved ones got some holiday cheer.

Visa Consulting & Analytics global network of more than 1,500 consultants, economists, data scientists and product designers work across 75 countries, combining payments consulting expertise with the extensive data capabilities of VisaNet. This powerful synergy delivers actionable insights and tailored recommendations to guide informed business decisions and power business growth.

To learn more about how Visa Consulting & Analytics can help clients turn data and insights into actionable business insights, visit https://corporate.visa.com/en/services/visa-consulting-analytics.html.

2024-12-20T07:01:00

(BPT) – If you’re just starting out and don’t have much credit history, the holiday season maxed out your current credit card, or unforeseen circumstances lowered your credit score, this is the perfect time to make New Year’s resolutions to improve your credit rating. Learning how to obtain and use credit cards wisely can make a difference in your lifestyle and future goals.

Here are some practical credit card tips to help you boost your credit score in 2025.

If You Have Little or No Credit History, Consider a Secured Credit Card

Potential creditors want you to have a positive credit history, but you can’t build a credit history without credit. So, how do you get around this catch-22?

One option is to open a secured credit card. Because it’s secured by a cash deposit, a secured credit card is less risky to card issuers and typically easier to get than an unsecured credit card, which is what most credit cards are. Should you default on a secured credit card, the card issuer can use the cash deposit to cover or minimize any losses.

Other than requiring an initial deposit, a secured card works pretty much the same as an unsecured credit card, including typically reporting your card activity to one or all three of the major credit bureaus. If you’re using a secured credit card to build a credit history, it’s important to verify that the card issuer does indeed report account activity before applying. There are some secured cards out there that don’t.

If you are set on an unsecured card, apply for one meant for people with an average or little credit history that can help you begin to build credit, like the Credit One Bank Platinum Visa. These cards typically come with a lower credit limit, but can, with smart usage, help build your credit history without requiring a deposit.

Apply for New Credit Sparingly

Every time you apply for credit, it typically generates a hard inquiry, which could lower your credit score by as much as 10 points. Say you apply for four credit cards in one week — that’s a potential 40 points your credit score could drop in seven days.

To avoid taking too many hard-inquiry hits, try seeing if you pre-qualify for credit cards on the company’s website. Doing this allows you to get a good idea of whether you’re likely to be approved without generating a hard inquiry. Just understand that pre-qualifying for a credit card does not guarantee you will be approved for it. To get a definitive thumbs-up or -down, you have to formally apply for the card.

Choose Credit Cards Wisely — and Make the Most of Them

Which cards you use makes a difference, especially when you want to get the most from the benefits or rewards they offer. The Credit One Bank Platinum X5 Visa is available to people with average-to-excellent credit who want to maximize their rewards earnings^*. The Platinum X5 Visa gives cash back on every purchase, with premium reward opportunities on everyday categories like gas and groceries. Cash back rewards accumulate over time and can be used to lower your account balance, or to purchase merchandise and gift cards. In addition, X5 cardmembers can optimize cashback rewards by making purchases in categories with the highest reward levels — including necessities you spend money on every day^*.

Pay Your Credit Card Bills on Time, Every Time

Payment history is the number one factor in calculating credit scores in the two most popular consumer credit scoring models. It accounts for 35% of your FICO^® Score and 40% of your VantageScore^®. If you want to positively influence your credit score, consistently pay your bills by their due date.

You don’t have to pay your outstanding balance in full each month to accrue a positive payment history — although, doing so should help save you money in interest and contribute toward making your debt more manageable. But you do have to pay at least the minimum amount due, and it must be received by the creditor by the payment due date for your payment not to be considered late or missed.

Lower Your Credit Utilization Ratio

Your credit utilization ratio is a mathematical expression of how much of your available revolving credit you’re using, and it’s another important factor in calculating consumer credit scores. To be safe, try to keep your credit utilization ratio below 30%, which means your outstanding balances should remain below 30% of your overall available credit. For example, if your credit card has a $1,000 limit, your outstanding balance should be no more than $300.

Learning to use credit cards wisely can take time, but it’s well worth the effort. Identifying financial goals and taking steps toward achieving them could be the most important resolution you make this year.

^*Terms Apply. Visit creditonebank.com for more details.

2024-12-19T13:01:00

(BPT) – The state of California has not raised auto liability coverage limits for more than 50 years, but that is set to change beginning next year. The new legislation, introduced in 2022 to keep pace with rising medical and repair costs, will require higher liability coverage limits for drivers and will take effect on Jan. 1, 2025. As we approach the new year, Mercury Insurance wants to help consumers better understand what these new limits entail.

“With the increase in liability coverage limits, California drivers will be more likely to have the coverage they need to pay for an accident without going into debt,” said Justin Yoshizawa, Director of Product Management for Mercury Insurance. “However, some drivers may notice an increase in their premiums next year, which means now is a great time to get in touch with your insurance agent to review your policy and maximize savings with potential discounts.”

Here’s what California drivers should know about the mandate:

What are the new coverage limits?

Currently, California requires motorists to carry liability insurance with minimum limits of $15,000/$30,000 for Bodily Injury and $5,000 for Property Damage. Starting in 2025, this will increase to $30,000/$60,000 for Bodily Injury and $15,000 for Property Damage.

When will the new coverage limits take effect?

New liability coverage limits will go into effect on Jan. 1, 2025. Drivers who are impacted should see the change in their next policy renewal after that time.

Why is this change happening?

Despite being home to the most licensed drivers in the country, the state of California has not raised auto liability coverage limits for the past 56 years. During that time, the costs associated with getting into an accident — medical bills and repair costs — have risen significantly due to inflation. The changes are intended to provide California drivers with greater financial protection amid these rising costs if they were to get into an accident.

Will this affect insurance premium for drivers?

This will affect premiums for drivers who currently carry the minimum coverage and are bumped up to the new limits as a result of the mandate.

What do drivers need to do now?

No action is required on the part of drivers. All existing policies with lower limits will be renewed with the adjusted minimum limits on or after Jan. 1, 2025. However, it would be a good idea to reach out to your insurance agent to review coverages and potential discounts that may be offered.

“These new coverage limits will remain in place for the next 10 years, after which another increase will go into effect,” said Yoshizawa. “The good news is that California drivers will be more adequately insured to cover repairs or injuries following an accident.”

2024-12-18T19:01:00

(BPT) – The beginning of a new year is a time when many people take stock of their lives, addressing important tasks like getting wellness exams or scheduling home maintenance. To help protect your home and property, these two steps should be at the top of your list: Getting an annual insurance check, and taking a home inventory. These steps can help you have peace of mind that you’ve got the coverage you need, should the unthinkable happen.

Here’s why it’s so important to do these tasks on an annual basis, from the experts at State Farm Insurance.

Annual insurance checks

Scheduling an annual insurance conversation with your insurance agent gives you the opportunity to ask questions about your home coverage, as well as ensure that all your vehicles are adequately covered — and new drivers are added to your coverage.

During your annual check, your agent can help you estimate the replacement cost of your home. While the amount of coverage you select is ultimately your choice, your agent can explain your options so you’ll make an informed decision based on the amount of coverage to rebuild if necessary. This is also a good time to ensure that you’ve told your agent about changes to your home that may impact your coverage needs, such as additions or remodeling.

It’s critical to understand the difference between the market value of your home and the replacement cost:

• Market value: the amount a buyer would pay for your home, including the land, regardless of how much it would cost to rebuild the home.
• Replacement cost: the rebuilding cost necessary to replace your entire home.

Insurance agents recommend purchasing an amount of coverage at least equal to the estimated replacement cost, but the choice is yours. To determine the most accurate current replacement cost for your home, you could ask if a replacement cost estimate is available during a home appraisal, or consult a local builders association or reputable builder for an estimate. Building contractors or professional replacement cost appraisers are good sources for determining the estimated replacement cost of your home.

When you upgrade or improve your home, you may need to increase your home’s estimated replacement cost, which is another good reason to reevaluate this regularly. Replacement cost estimates are also influenced by labor and materials costs that are subject to change, so keeping up with the current market conditions in your area and changing your home insurance coverage amount accordingly will help you maintain coverage that’s at least equal to 100% of your estimated replacement cost.

Since it’s impossible to predict what the exact cost will be to replace your home in the future, assessing this amount annually means you’ll be more likely to have enough coverage to account for unforeseen circumstances.

Why a home inventory is crucial

Before scheduling your annual insurance check, take a complete home inventory so your records are up to date. It’s easy to be unaware of how many belongings accumulate in your home over time, which is why it’s key for homeowners to conduct a home and personal property inventory before a catastrophe or unexpected damage might occur. A home inventory is an excellent way to make sure you will be able to replace things in your home including furniture, home essentials, clothing and more.

Whether you live in an apartment or a house, a home inventory is an excellent way to help you make the best homeowners or renters insurance decisions. This will also expedite insurance claims in the event of theft, damage or loss. While it may sound daunting, there are three ways to make your inventory, so choose the method that seems easiest to you.

• Written inventory: List your belongings, including item descriptions (make, model and serial number, if applicable), value and purchase date. Create your list using a spreadsheet, or fill out a home inventory checklist that’s ready to go, like a checklist from State Farm Insurance. Gather documents like receipts or photos that support your inventory.
• Digital inventory: If you have a smart phone, there are downloadable apps, some of them free, to help you make a digital inventory. Home inventory apps let you record a photo of each item along with its description, value and purchase date.
• Visual record: You can use a visual record of your possessions to show proof of ownership with a video walk-through of your home, or through a series of photographs.

Another option is combining a couple of these methods, if that works best for you. Making an accurate, up-to-date record of your insurable assets will help you determine the right amount of insurance coverage you need.

For additional tips and to help you get started, check out the blog “How to Create a Home Inventory” at StateFarm.com/simple-insights.

This content sponsored by State Farm