The economic downturn continues to affect the merchant account payment processing business. Payment processors and card issuers make the most money on when consumers use credit cards to pay for purchases. Debit cards are somewhat less profitable. And, of course, no money is made when consumers pay..
Research on payment processing was recently released from Goldman Sachs. The investment bank expects growth from sources other than credit cards to power growth of electronic payments to 42.3% of worldwide personal consumption expenditures in 2012, up from 35% this year.Growth in credit card..
According to consulting firm Treasury Strategies losses caused by fraud could result in the closing of as many as 10 financial institutions within the next three years. According the Barry Barretta, a principal at Treasury Strategies, “Fraud risk in the industry is at an unprecedented..
Three-quarters of online economic users - those Americans who use the internet to keep up with news about the economic recession or their own personal finances - go online to relax and take their minds off of the recession, according to a 2009 survey by the Pew Research Center's Internet &..
Paper checks for ongoing consumer expenses such as rent, mortgage, utilities, and taxes are rapidly being replaced by electronic payment processing. Consumers expect to be able to pay bills online. Companies that to offer electronic payment options to their customers satisfy customer demand while..
Carla Balakgie, CEO of the Electronic Transactions Association says that the current economic condition and malicious fraudsters with criminal intent are among the biggest problems facing the payment processing industry.According to Balakgie, the downturn in the economy is the biggest problem..