Effective February 1, 2015, PayPal and Google Adsense accounts registered in the the Crimea peninsula of Russia will be cut off. Visa and MasterCard stopped serving Russian banks in Crimea just days after the new sanctions were introduced in mid-December.
NCR signed an agreement to become the primary technology provider for PRESENTE, the fund serving employees of Éxito Group. NCR Colombia will work with the Fund to deliver its first network of ATMs for its members. Using NCR’s technology, PRESENTE has already installed 14 ATMs, which are located at administrative offices, distribution centers, food industry, and the textile subsidiary Didetexco, in cities such as Barranquilla, Bogota, Cali and Envigado. PRESENTE becomes the first Fund for Employees with its own ATM network in the country. In addition, PRESENTE will use NCR APTRA eMarketing software to deliver personalized ATM experiences, advertising campaigns and service offers to the members, allowing a constant and immediate communication with them.
Fiserv announced that General Colin L. Powell (Ret.) will deliver a keynote address at Forum 2013, the annual fall conference for Fiserv credit union clients. Other highlighted guest speakers include Dan Mica, former U.S. congressman and past president and CEO of the Credit Union National Association (CUNA), and Marcus Buckingham, author of seven best-selling books on strengths in the workplace. Forum will be held Sep. 9 – 12 at The Venetian and The Palazzo in Las Vegas. Forum 2013 is focused on helping credit unions deliver financial experiences that deepen member relationships and drive growth. In addition to the general session speakers who will provide new perspectives on leadership, innovation and management, Forum 2013 will feature sessions across five content tracks: Digital and Mobile Revolution; Payments Transformation; Member-Driven Experience; Risk and Compliance Impact; and Efficiency, Performance and Analytics.
The Wells Fargo/Gallup Small Business Index declined six points to 17, which virtually erases gains experienced earlier this year. The number of business owners expecting to be in a good financial position over the next 12 months declined seven percentage points to 59% and those expecting increased revenues in the next 12 months declined by six percentage points to 43%. Despite the decline in the Index score this quarter, business owner optimism has improved significantly from the Recession low point when the Index dipped to minus 28 (-28) in 3Q/10. With the number one reason cited for not making a small business investment being concern about the overall state of the economy, small business owners planning to make capital investments over the next 12 months say they intend to make them in new equipment/machinery (64 percent) and technology, such as computers (61 percent), new software or websites (56 percent), and mobile devices (52 percent). But business owners who said they plan to make a capital investment over the next 12 months say they are planning to pay for it using business revenue/profits (93 percent); credit (39 percent); and savings (31 percent).
MasterCard Advisors released its SpendingPulse index in partnership with Wells Fargo indicating June spending at small retailers was up 8% from the year ago figure, higher than the overall U.S. retail growth rate of 6.9%. Each MasterCard SpendingPulse for Small Business report includes information about current retail sales (excluding autos and gasoline), year-over-year growth in total retail sales (excluding automotive sales), as well as views with and without food services. The report provides valuable information for all stakeholders who support or work with small businesses, including merchants who sell to small retailers, advertisers, and economists.
America’s small business owners are the most optimistic since July 2008, according to the latest findings from the Wells Fargo/Gallup Small Business Index survey for the period Jan. 9. The Index now stands at positive 15 (+15) for January, compared to minus 3 (-3) in October and following two previous Index readings of zero (neither optimistic nor pessimistic). Revenues – 49% expect revenues to increase a lot or a little, up from 37% in Q4 2011. With this, 63% expect their company’s financial situation to be very or somewhat good over the next 12 months, up from 55% in Q4 2011. Meanwhile, 22% expect the number of jobs at their company to increase a lot or a little, up from 15% in Q4 2011; 8% expect the number of jobs at their company to decrease a lot or a little, down from 13% in Q4 2011. Only 15 percent said they are currently looking for new employees, while 76% of those who are not looking to hire employees don’t need any additional employees at this time; 71% are worried revenues or sales won’t justify adding more employees; and 66% are worried about the current status of the U.S. economy.
WorldRemit Internet-based money transfer service has added Interac ” Online” to its portfolio of payment options. Allowing customers to transfer money directly from their bank accounts, WorldRemit offering Interac “Online” gives customers access to credit cards and debit cards. Unlike traditional money transfer services that require senders to visit an agent, WorldRemit’s money transfer service is internet-based, allowing customers to send money safely from the comfort of their own home. WorldRemit sends an SMS text message to the recipient’s mobile phone notifying them that the cash is ready for collection, whom can then visit one of the many pay-out locations to collect the cash.
In keeping with the improving economy, falling consumer credit debt and bankruptcies leveling off, small business owners are maintaining their confidence. Showing increasing optimism for the second consecutive quarter, the Index score rose another 16 points this quarter, lifting out of negative territory to reach 12 on the Wells Fargo/Gallup Small Business Index survey, which gained 40 points since July 2010.
Also, this was the largest two-quarter gain in optimism recorded since August 2003. Always a strong indication of how well the economy’s doing, small business owners expect improvements in their financial situation, revenues, jobs and access to credit over the next 12 months, with 54% expecting an increase of a lot or a little, up from 44% in 4Q/10.
Specifically, 65% of small business owners expect their companies’ financial situation to be somewhat or very good, up from 59 percent in 4Q/10; 23% expect their employee headcount to increase a little or a lot, up from 18% in 4Q/10; and 36% expect credit to be somewhat or very difficult to obtain, down from 42% in 4Q/10.
Business owners are looking at a later retirement with 69% not planning to retire or cut back on work until age 65 or older reflecting a 17% increase since December â07 and a 28% increase over September â05. Meanwhile, those planning to retire before 60 decreased to 21% from 27% and those anticipating retiring before age 60 decreased to 11% from 21% in December â07. This, according to the Wells Fargo/Gallup “Small Business Index,” also shows 62% of business owners surveyed indicated that they made changes to their retirement strategy as a result of the economic downturn; 68% are worried about not being able to build back retirement savings lost during the recent economic downturn; and 63% are confident they will have enough money to live comfortably when they retire, compared to 79% in 2007. Small businesses account for most new hires and for 99.7% of all U.S. employers.
Fewer U.S. small business owners expect revenues, cash flow, capital spending and hiring to increase over the next 12 months. Credit conditions improved modestly for businesses in July, with 32% reporting it was âsomewhatâ or âvery difficultâ to obtain over the past 12 months, down from 36% in April. These findings, according to the July Wells Fargo/Gallup “Small Business Index,” also show 42% of business owners expect credit to remain âsomewhatâ or âvery difficultâ to obtain over the next 12 months as. This data translated to a 17-point decline from April in the surveyâs index of business owner confidence, finishing at (-28), the lowest score since the surveyâs inception. The Index is the sum of âpresent situationâ and âfuture expectationsâ of small business owners for six key measures. Future indications show 38% expect their companiesâ revenues to increase over the next 12 months; 43% expect their companiesâ cash flow to increase; 37% expect their companiesâ allocation for capital spending to decrease over the next 12 months; and 13% expect the overall number of jobs at their companies to increase. Presently, 36% rated their cash flow as somewhat or very good for the past 12 months.
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A July survey has found that small business ownersâ optimism dropped to its lowest level in at least six years. The Wells Fargo/Gallup “Small Business Index” stands at -21, down 20 points from the previous survey in April, and 135 points lower than the Index high of 114 (November, 2006). This is the third consecutive quarter with a negative “Index” score. About 37% said they have “poor” cash flow issues, compared to 30% in the prior quarter. Nearly 58% said revenues were decreasing, compared to 51% in the previous quarter. The “Index” consists of two dimensions: 1) Ownersâ ratings of the current situation of their businesses and, 2) Ownersâ ratings of how they expect their businesses to perform over the next 12 months.