The best consumer spending analysis, based on actual consumer transactions rather than surveys or speculation, for Thanksgiving, Black Friday and Cyber Monday shows overall spending growth was up 9.0% year-over-year (YOY), compared to 9.4% in 2015 and 3.5% in 2014. The First Data SpendTrend also showed the total share of eCommerce spending has gone up…
Young adults, especially the 18–24 year olds, who tend to favor debit cards, are still less likely than older adults to use credit cards, but this is changing, particularly due to the shift toward online and mobile shopping. Nearly all consumers shop online and e-commerce and m-commerce are gaining a larger share of payment transactions,…
European Acceptance of China UnionPay Cards Explodes in 2016 More than 600,000 merchants in Europe are accept UnionPay this year, and the newly-enabled merchants in Italy and Spain are over 100,000 respectively. So far, more than 2.2 million merchants in 39 European countries and regions accept UnionPay, taking up 50% of all the merchants supporting…
Over the past twenty years, many in the retail industry have predicted the demise of the physical store. But the reality is, the store is still the foundation of retailing. It is where the tactile and sensory experience comes together for the consumer. One year after The Future Store Manifesto was published, BRP issued a…
Shift4 and Resort Data Processing (RDP), provider of property management software, are now offering a joint EMV-certified solution for vacation rentals, timeshares, resorts, hotels, campgrounds and private residence clubs. The solution includes: Layered payment security: EMV helps prevent the fraudulent use of stolen card data in card-present environments. With Shift4’s DOLLARS ON THE NET and…
Wirecard is gearing-up to integrate coverage solutions from Credit Life International in its mobile payment solution. Soon, purchases made by users via the mobile app can also be insured at the touch of a button during the checkout process. The combination of payment and insurance is extremely convenient for users. A fully digitized prepaid MasterCard,…
New research reveals alternative payment methods are set to replace card payments by 2020. Worldpay’s latest global overview of online payment habits, the Global Payments Report, predicts the global e-commerce market will grow 10.4% by 2020. The report, which compiled data from 30 countries, suggests China, the U.S. and the U.K. will continue leading the…
China UnionPay cards are now accepted in Australia by about 30,000 ATMs and over 600,000 POS terminals, covering 90% of the ATMs and about 70% of the local merchants, and more than half of these merchants accept UnionPay mobile QuickPass. The local UnionPay payment service system for students study abroad is improving continuously. Since July,…
Mastercard has inked a partnership with Verifone to roll out a new installment pay application at retailers across the UK. With a significant footprint of payment terminals at major retailers, Verifone will help Mastercard roll out the solution for UK cardholders. Mastercard Installments has been developed to bring a fresh payment option to the marketplace.…
Ingenico has launched its new Link/2500 mobile point-of-sale device designed to address small merchants’ payment needs in mobility. Available in two versions, companion or standalone, the Link/2500 was designed to address small merchants’ payment needs in mobility. The Link/2500 enables estate owners to offer their clients (micro and small merchants) a new generation mobile solution…
NC-based LendingTree has juggled two top executives. Neil Salvage, previously the company’s Chief Revenue Officer, has been promoted to the newly-created role of President, managing the day-to-day business operations. Nikul Patel, previously LendingTree’s Chief Operating Officer, will now be the company’s Chief Product and Strategy Officer, where he will lead product innovation, consumer experience and…
Dozens of credit unions, some with as few as 300 members, are now offering the FICO Score Open Access program to their customers as a way to empower them to take control of their financial health. To-date 180 million consumer accounts are now getting their FICO Scores for free. The FICO Score Open Access program…