Credit card’s have been the primary consumer payment method for the second month in a row, according to First Data Corp.’s SpendTrend report for June 2011.
June Transaction Growth:
Credit — up 6.8 percent
Signature Debt — up 8.8 percent
PIN Debit — up 3.8 percent
Check — down 12.3 percent
June Dollar Volume Growth:
Credit — up 10.7 percent
Signature Debt — up 8.5 percent
PIN Debit — up 6 percent
Check — down 12.6 percent
Full article here
Our partner AisleBuyer has recently been named as a finalist in the 2011 MITX Innovation Awards as a Commerce Gamechanger. The rapidly evolving mobile payments industry continues to move to the forefront of todays payments community and AisleBuyer remains a standout among the class. To read more about AisleBuyer’s nomination and check out the full list of finalists click on.
Paysouth offers the highest quality payment solutions while maintaining a quick delivery and close relationship with our members. Some great benefits for credit unions who chose our solution:
For more information, please visit www.paysouth.com
AisleyBuyer’s CEO, Andrew Paradise, talk’s about the new mobile self-checkout technology on CNBC’s Powerlunch.
Paysouth and Alliance have formed a partnership
to provide merchant services on behalf of credit unions.
Paysouth Merchant Services products and services include:
• Visa, MasterCard, Discover and American Express processing
• Check and Gift Card processing
• Report management
• Terminal deployment and support
• Gateway services
• Clearing and Settlement
• PCI Compliance Support
For more info on Paysouth check out www.paysouth.com
Yesterday’s announcement made it official, Alliance and AisleBuyer have formed a partnership to continue the evolution of the everyday consumer shopping experience. AisleBuyer’s logo includes the phrase “never wait in line again,” and the mobile self-checkout technology AisleBuyer has developed does indeed back up that statement. We believe AisleBuyer will fundamentally change the in-store consumer shopping experience and that our knowledge within the market will only help to serve that goal.
Follow us on twitter @cobrandedcards for all of our payments industry expertise and advice and also any big news in the industry.
1. Lowering costs to operate your card programs: The benefits of re-allocating your current capital resources would contribute to your growth potential with out having to invest more money.
2. Reduction of delinquency and loan loss associated with unsecured card products: Risk mitigated is the key to a successful payment card program.
3. Streamlining operational efficiencies and card technology: Many card issuers are partnered with antiquated processor platforms or utilize a separate processing platform for credit and debit, which can be inefficient and costly.
4. Offering a competitive card product: Investment in card offering upgrades and rewards programs will allow your institution to offer a compelling card product.
5. Increasing card utilization and profitability: Your investment in the performance of your card programs will increase card usage and improve the ROA for your institution.
A few questions you credit union executives may want to ask yourselves:
1. Are costs increasing to operate your card program?
2. Is your card product offering competitive compared to other card issuers?
3. Do you have a plan to address the increasing cost of fraud claims?
4. Is your bond insurance premium set to increase?
5. What is your credit union’s tolerance for risk?
6. Is forming an agent card partnership right for your credit union?
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