We realize we’re not even into the actual “Twelve Days of Christmas” yet, but already holiday spending trends are being compiled and assessed. A recent survey from Citi indicates that holiday spending may land on the “up” side this year, after all. According to the survey, “twenty-nine percent of Americans estimate they will be spending more than $1,000 this holiday season, up from 22 percent in 2011. Amongst those planning on shopping for the holidays, Americans will spend an average of $968, up $60 from 2011.”
Category: AVP Solutions Merchant Info
Black Friday Down, Yet Cyber Monday Sets Record
There are a lot of interesting tea leaves — perhaps that’s peppermint tea, in the spirit of the season — to be read as the data comes in from Black Friday through Cyber Monday, that stretch of time formerly known as “Thanksgiving Weekend.
Ways to Not Leave $100 Billion on the Table — POS Devices for Tablets & Smartphones
We were struck by a CNBC article appearing this week, with the provocative headline, “Cash-only Business Owners Risk $100 Billion Mistake.” The article notes that “As American consumers begin to embrace tap-and-pay smartphone apps, relegating plastic to a deep recess in the pocketbook or wallet, more than half of U.S. small business owners continue to live in the past—forget mobile apps, they don’t take American Express, or anything other than cash.”
Checks, Charges, and Changes
We always like it, here at the AVPS blog, when pieces of “separate” financial news combine to make a single, bigger story, or to provide a trendline.
That’s happened again this summer, when a story about checks — and then another — caught our eye. The first was an article written in anticipation of an upcoming report from the Federal Reserve, which charts consumer payment habits.
Late Card Payments Decline — New Customer Use Patterns Emerging?
In increasing signs of a perking — or at least, stabilizing — economy, comes the news that late payments on credit cards are at a 20-year low. According to an AP article, the credit reporting bureau TransUnion is reporting “ the second-lowest recorded since the second quarter of 1994, when the rate was 0.56 percent, and it’s running ahead of the historical average of 1.03 percent. The firm’s records go back to 1992.”
Credit Card Tips for When “Back to School” Means “Off to College”
We’re probably as surprised as you that it’s already “back to school” time in so many places, for so many students. Aren’t we still a few weeks away from our Labor Day barbecues!?
Card Companies Show Profits, as Credit Use Climbs
There are tea leaves in nearly every flavor, for someone attempting to read what direction the economy’s headed in. But for at least two of the biggest credit card companies, the news seems to be that things are picking up, or at least their customers — the ones using credit cards — are convinced it’s okay to start saying “Charge it,” again.
Plastic Sleeves and Radio Chips: Simple Protections for RFID Cards
As the news keeps making clear, changes are coming to what exactly it means when a customer says “charge it!” There are smart wallets, phones-as-credit cards, and more.
AOL Business Article: Accepting Plastic “Outweighs the Cons”
We were struck by a long and thoughtful article recently posted on AOL Business, with the headline “Can You Afford to Run a Cash-Only Business?” The first section dealt with some of the admitted advantages from a “cash on the barrelhead” approach — every penny that comes in stays with the business, and you are also absolved from any worries about security breaches, hacks, banks raising fees, etc.
