Women’s investments outperformed men’s by four per cent in 2024, according to Revolut data from its trading customers.
New data from Revolut hints towards the beginning of a power shift as women investors saw significantly better returns than men in 2024.
While trends like ‘girl math’ started as a bit of lighthearted fun, there is a clear argument that they perpetuate negative stereotypes about young women’s spending and saving habits, as well as about their financial knowledge (or lack thereof).
But Revolut’s stats don’t fall in line with these ideas, instead highlighting that they are an underestimated demographic in the investment space. While women’s investment outperformed men last year, women also opened 31 per cent more accounts in 2024, than in the previous year.
When breaking Revolut’s stats down by age, women aged 45 to 54 performed best when compared to men of the same age, earning 1.2 per cent more profit. Investments made by Millennial women (25 to 34) came in closely behind, recording 0.9 per cent higher profits than their male counterparts, while investments by women aged 55 to 64 also performed strongly (with 0.7 per cent higher profits than same-aged men).
Revolut says that young women (18 to 24) were the ones to watch, while still recording one per cent less profit than men of the same age, the group was active in boosting the number of accounts held since the last year (32 per cent)
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UK retailers must look to adopt new technology allowing consumers to update card details seamlessly, or risk losing out on £4.3billion annually according to new research conducted by Opinium for Acquired.com, a payments business focused on recurring commerce.
When a payment card expires for whatever reason (card expiration, loss or theft), customers are prompted to update their payment details. However, this gives customers the perfect opportunity to reevaluate their needs for a service, given how simple it is to cancel it.
According to American Express, cards stay active for between three and five years on average, meaning retailers could be losing customers on a regular cycle, just due to outdated information.
Commenting on the findings, Eline Blomme, chief strategy and product officer at Acquired.com commented: “Keeping payment details up to date has traditionally been a challenge, often leading to unnecessary consumer friction. When retailers ask customers to manually update their card information, there’s also a risk that the customers will not get around to doing it.
“But payment technology can help with this. Account Updater and Network Tokenization enable card details to be updated automatically whenever a card is replaced or renewed. This eliminates the need for retailers to prompt customers for updates, reducing the risk of losing subscribers due to expired or changed payment details. Despite these benefits, adoption remains surprisingly low.
“Many businesses either don’t prioritise these features, fully understand their benefits, or have the technical resources to implement them. For businesses that rely on recurring payments, partnering with a payments provider that offers both features presents a valuable opportunity to enhance customer experience and boost revenue.”
Breaking down the findings
Nearly two in five (38 per cent) of adults in a nationally representative survey responded that they have cancelled a subscription in the past because they have been prompted to update their payment details. For those cancelling, this represents an average loss for retailers of £210 per adult annually, a significant loss of £4.3billion annually when scaled nationally.
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Payment network Affirm has announced that it will continue to be the exclusive pay-over-time provider for Shop Pay Installments in the US following a partnership renewal with Shopify, in the internet infrastructure provider for commerce.
The new partnership between Affirm and Shopify will also extend into Canada. This is only the beginning as the partnership looks to expand into new markets across the globe, with sights set on the UK. Over the coming months, eligible Shopify merchants in Canada will be able to offer Shop Pay Installments powered by Affirm at checkout.
Approved customers will be able to choose from customised biweekly and monthly payment plans, with rates as low as 0 per cent APR, term lengths up to 24 months, and no late or hidden fees.
Given the success of our long-standing partnership with Affirm in the US, bringing them to our merchants internationally is a no-brainer,” said Kaz Nejatian, COO of Shopify.
Affirm’s premier technology, world-class team, and commitment to transparency make them a natural fit to continue supporting merchants in the Shopify ecosystem, and we look forward to bringing this same value to our merchants in Canada, the U.K., and beyond.
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Small and medium businesses (SMEs) make up a large chunk of the UAE economy, contributing to 40 per cent of the national GDP and constituting over 94 per cent of active enterprises in the UAE. With so many organisations working from the ground up, integrating new digital technologies can be challenging. This is why Mashreq, the digital banking provider, is stepping in with its new product: Mashreq Biz.
Mashreq Biz is an online and mobile business banking platform designed to simplify and enhance the banking experience for businesses.
It empowers SMEs and business owners to manage their finances, payments, and transactions from the comfort of their office or home, transforming day-to-day business operations into a streamlined, efficient process.
The trajectory of the SME sector’s growth is only going to rise. It employs 42 per cent of the workforce and as of mid-2022, the UAE had approximately 557,000 SMEs, contributing 63.5 per cent to the non-oil GDP, with projections indicating this number will reach one million by 2030.
Aligned with the growth of the SME sector in UAE, Mashreq is advancing the digital transformation of over 70,000 existing NEOBIZ and Business Banking customers by introducing the ‘Mashreq Biz’ platform.
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