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NFC Card Payments Top £100m a Month

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NFC card payments surge to a new all-time high The world of NFC payments has been a rough one, yet, yesterday saw a huge step forward in payments made via NFC. For the first time, it seems that monthly spending on contactless cards has exceeded the £100 million mark, at least that’s according to data published by the UK Cards Association on the 29th April. It’s also been revealed that 78 million NFC enabled SIM cards were shipped in 2013,…

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vantiv

Vantiv Will Buy Mercury Payment Systems for $1.65B

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Payment processor Vantiv said Monday that it will spend $1.65 billion to buy Mercury Payment Systems, which helps retailers process credit, debit and check payments. Cincinnati-based Vantiv said the deal will expand its online commerce business into Mercury Payment Systems’ network. “Bringing the companies together will dramatically enhance our distribution and technology capabilities to serve a number of large and growing industry verticals,” Vantiv CEO Charles Drucker said. Vantiv expects the deal to close during the current quarter. It says…

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Mastercard_Cashless

Cashless Journey – Mastercard Ranks 33 Countries

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A new report from MasterCard Advisors, The Cashless Journey, explores the evolution of consumer payment patterns in 33 countries representing 85% of global GDP.  Across the study sample a total of $63 trillion in consumer payments is split $21 trillion (34%) in cash and $42 trillion (66%) non-cash payments as of 2011.The study measures share of cash and non-cash payments for each country, trajectory between 2006 and 2011, and readiness for future conversion.  Based on scoring the countries are grouped into…

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News1FedReport

Cash is Still King According to FED Report

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The Federal Reserve System’s Cash Product Office (CPO) have published their report “Cash Continues to Play a Key Role in Consumer Spending: Evidence from the Diary of Consumer Payment Choice”, suggesting that cash is still king. The study shows that the average American consumer had 59 transactions, including purchases and bill payments, with 23 of these 59 payments involving cash. Cash makes up the single largest share of consumer transaction activity with 40 percent, followed by debit at 25 percent,…

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