Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups.

Alibaba & Suning

Ngzhou-based Alibaba and Suning Commerce have inked a deal wherein Alibaba will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China. After the closing of the investment in Suning, Alibaba will be the second-largest shareholder in the company.

July UK Expenditure

UK consumer spending increased again in July, on an annual basis, household expenditure rose +1.9%, up from +1.4% in June, and slightly stronger than the average annual increase seen over the first half of 2015. Spending volumes also rose on a monthly basis in July (+0.1%), following declines in the prior two months. Meanwhile, expenditure declined fractionally on the quarterly measure (-0.1%), after a slight rise in June (+0.9%).