The Velera Payments Index February 2026

Summary: Despite another sharp drop in consumer sentiment to its lowest level in more than a decade, January spending told a different story. Debit and credit purchases continued to grow year over year, even as inflation eased to 2.4% and job growth beat expectations. In the February 2026 Velera Payments Index, we explore what this disconnect means for credit unions and take a deep dive into Buy Now, Pay Later (BNPL) trends that are reshaping everyday money management.