Even though the weekend after the Thanksgiving holiday last year had pretty strong sales volume, card processor First Data reported that the same weekend this year posted even stronger sales gains.
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.
First Data Corp. says consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year but the firm credited inflated prices for the increase rather than an increase in purchases.
Despite the documented ability of smart chips to cut fraud losses, experts say some credit unions and CUSOs have not moved very quickly to start issuing credit and debit cards enabled with the higher tech chips.
Iowa agent issuer wins the business the $5 billion Mutual of Omaha Bank.
For credit unions and banks vying to be the primary financial institution, understanding and delivering products and services based on consumers’ needs has always been a priority.
A First Data survey entitled “The New Consumer & Financial Behavior,” provided insight and tips for financial institutions looking to better serve today’s consumer and beyond.
Consumers still used their credit and debit cards in May, but more slowly than they have been.
Consumers were still shopping in April, though they were starting to look over their shoulders at rising gasoline prices, according to First Data's SpendTrend report.
Even as financial institutions and retailers continue their fight over who pays for the debit card network, consumers continued to show the love for cards in general last month.