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Online and credit cards grow share of spending with UK SME merchants
According to retailers, consumers across the UK spent in record numbers on November’s “Black Friday”. It is estimated that online spend for the day was around £1.23 billion, a 12% increase year-on-year, while the total spend for the week rose to £6.5 billion. Small to medium enterprises (SMEs) and Micro businesses expect this trend to [...]
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US credit cards gain more share of spending by 2020
Credit cards, debit cards, and prepaid cards issued in the US initiated 104.41 billion purchase transactions in 2015, up 8.0%, according to The Nilson Report, the top trade journal covering the card and mobile payment industries. Spending for goods and services on those cards totaled $5.805 trillion, up 7.4% over 2014. By 2020, purchase volume [...]
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US fraud losses rising on debit cards – falling on credit cards
US fraud levels are rising across all payment card products, according to First Annapolis’ semi-annual survey of major card issuers, but changes in fraud write-offs vary by product. Survey results1 show that reported cases of payment-card fraud for credit, signature debit, and PIN/ATM debit all increased significantly from 2015 to 2016 writes Casey Merolla, Senior Manager, [...]
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Millennials in the US ditching credit cards
Data from the Federal Reserve indicates that the percentage of Americans under 35 who hold credit card debt has fallen to its lowest level since 1989, when the Fed began collecting data in a standardized way, according to an analysis by The New York Times. Some older Americans have also been shedding credit card debt [...]
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Credit cards come back as UK moves towards a cashless society
There has been significant growth in the acceptance of credit cards and contactless card payments by small and medium enterprises (SMEs), new research from East & Partners Europe shows. Since 2012, the acceptance of credit card payments has entered something of a resurgence, growing its share of merchant payment volumes by a relative 39% from [...]
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