PSCU Payments Index June 2021: Deep Dive on Entertainment
Summary: Over the past month, various factors impacting the payments industry indicate signs of economic rebound continuing to accelerate. With the CDC updating its travel guidance and relaxing guidelines on social distancing and activities for fully-vaccinated Americans, consumer comfort levels continue to increase as domestic travel bookings and event attendance are on the rise. Notably, the Friday of Memorial Day weekend (May 28) boasted the highest single-day travel volume since March 2020. As we see continued signs of returning to pre-pandemic norms, we are pleased to present the third edition of the PSCU Payments Index. In our June 2021 edition, we explore the impact of these forces and take a deep dive into the Entertainment sector – one of the hardest hit during the COVID-19 pandemic – to help our financial institutions make informed, strategic decisions on the road ahead.
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Over the past month, various factors impacting the payments industry indicate signs of economic rebound continuing to accelerate. With the CDC updating its travel guidance and relaxing guidelines on social distancing and activities for fully-vaccinated Americans, consumer comfort levels continue to increase as domestic travel bookings and event attendance are on the rise. Notably, the Friday of Memorial Day weekend (May 28) boasted the highest single-day travel volume since March 2020.
As we see continued signs of returning to pre-pandemic norms, we are pleased to present the third edition of the PSCU Payments Index. In our June 2021 edition, we explore the impact of these forces and take a deep dive into the Entertainment sector – one of the hardest hit during the COVID-19 pandemic – to help our financial institutions make informed, strategic decisions on the road ahead.
Key takeaways include:
- Growth in card payments remains strong, with the Entertainment sector (this month’s Deep Dive) returning close to 2019 levels
- With COVID-related restrictions easing, in-person attendance at major sporting events, amusement parks and other events is on the rise, signaling efforts to return to prepandemic levels
- As consumer comfort levels with in-store purchases increase, Card Present volume continues to improve – but still significantly trails Card Not Present growth
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