First Data Corp. reported that January's harsh weather significantly lowered consumer spending from the previous month.
While spending dropped overall due to winter weather, retailers selling necessities and cold weather supplies saw robust growth.
The prospect of renewed Congressional budget fights helped undercut consumer spending last month, according to a report from First Data.
Through a new agreement with a loan processing provider, Interra CU has opened the door for future growth.
Caution noted: Consumers reducing discretionary spending while increasingly resorting to credit for necessities.
First Data says the pace of consumer payments slowed significantly in April over the pace during the first quarter of the year.
The percentage of payments made by check keeps slipping.
Akcelerant Holdings has formed a new service company – Akcelerant Advisors – and bought CU Data Miner, a provider of business intelligence reporting.
First Data's monthly analysis of card transaction data suggests consumers used their cards more in December 2011 than they did in December 2010, but that they spent only the same or less money.
Consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year, according to card processor First Data. But the firm credited inflated prices for the increase rather than an increase in purchases.