U.S. Retail E-Commerce Growth Rates

RESTON, VA, July 31, 2008comScore today released its Q2 2008 retail e-commerce data, which showed that while year-over-year growth rates rebounded slightly in April (up 15 percent) after a soft March, they slowed again in May (up 12 percent) and June (up 11 percent)Nonetheless, total U.S. online retail sales (excluding travel) reached approximately $31 billion in Q2 2008. comScore CEO Magid Abraham and comScore Chairman Gian Fulgoni will...
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Posted by John B. Frank Thursday, July 31, 2008 0 comments

Is There A Perfect Storm Brewing in the Credit Card Industry?

I have recently posted various blog entries regarding "congress investigating interchange fees", "the DOJ putting antitrust pressure on Visa", "the booming growth of debit"  as people either cut up or put away their credit cards, along with "Discover and AMEX's antitrust suits against V/MC".  There's a lot of turbulence in the air.There seems to be a perfect storm brewing here.  Interchange Fees are under attack...
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Posted by John B. Frank 0 comments

MasterCard and Visa Financial Results Released

MasterCard has reported financial results for the second quarter of 2008. "MasterCard's worldwide purchase volume during the quarter rose 14.0% to $493 billion and its gross dollar volume increased 12.8% to $655 billion. Transactions processed grew 13.6% to 5.2 billion. MasterCard reported 951 million MasterCard cards issued, up 11%. Net revenue for the second quarter of 2008 was $1.2 billion, up 25.0%. Pricing changes contributed approximately...
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Posted by John B. Frank 0 comments

Senators Ask GAO to Investigate Interchange Fees

FOR IMMEDIATE RELEASE:  July 30, 2008 CONTACT:Jennifer Mullin (Harkin)  202-224-3254John Gentzel (Snowe)   202-224-8667Sue Walitsky (Cardin)   202-224-4524Harkin, Snowe, Cardin Ask GAO to Investigate Interchange FeesWASHINGTON D.C. – U.S. Senate Small Business and Entrepreneurship Committee Members Tom Harkin (D-Iowa), Olympia J. Snowe (R-Maine), and Benjamin L. Cardin (D-Maryland) today requested that the...
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Posted by John B. Frank 0 comments

Debit Usage Will Continue to Soar as Americans Ditch Credit Cards

Survey Finds 40 Percent Using Their Credit Cards LessSTRATFORD, Connecticut (CNN) -- When Cappie and Don Perras saw their stock market investments tank this year, they decided to tighten their belts. They drive fuel efficient cars around their Connecticut town and eat at cheaper restaurants if they eat out at all. To avoid impulse buying, they avoid the mall. And for now, at least, they've put away the credit cards.This marks a big change...
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Posted by John B. Frank Wednesday, July 30, 2008 0 comments

Chase Paymentech Breakup = New Payment Processing Option for Online Retailers?

More changes are coming in online payment processing. as more payment alternatives slowly gain traction, with more (can you say HomeATM?) on the way. Soon, online retailers will have another payment-processing option as a big processor plans to split into two.That company is Chase Paymentech Solutions LLC, which claims to process two out of three e-commerce purchases made by U.S. consumers.Chase Paymentech Solutions is a 12-year-old joint...
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Posted by John B. Frank Tuesday, July 29, 2008 1 comments

The Top 25 Internet Retailers

According to Internet Retailer, in aggregate the Top 500 retailers accounted for a total of $101.7 billion, of the nation's $166 billion in online retail sales in 2007. The Top 500 grew their online sales by 21.6 percent.  The top three e-commerce application and service providers will be listed by Internet Retailer in its August issue.  To apply for a free subscription (US subscribers only), click this link.Published by...
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Posted by John B. Frank 0 comments

Canada Gets Ready for Chip and PIN Adoption

The rapidly evolving payment industry is undergoing a new chip and PIN revolution in Canada and merchants will need to stay on their toes to keep up. Industry observers, including a newly appointed Canadian INSIDE Contactless executive weigh in on the issue and Rafael Ruffolo writes about it for ComputerWorld Canada:By: Rafael Ruffolo, ComputerWorld Canada (29 Jul 2008) With chip and PIN contactless technology set to hit widespread adoption...
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Posted by John B. Frank 0 comments

Reverse Matriculation: Why Wedgies Are All Good!

Online Banking (the security of which) has been taking a beating over the past couple of weeks. But there's good news too...according to the BBC, Barclay's PIN Sentry Device has made online banking more secure. ( read more on Barclay's PIN Sentry Device and HomeATM's Wedgie) at: HomeATM Has Powerful Potential!Last Wednesday, I posted a relatively sarcastic article pointing out how blatantly insecure paper checks were (are)...while questioning...
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Posted by John B. Frank Monday, July 28, 2008 0 comments

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Kapersky Calls for Mass Adoption of Card Readers

Kapersky Calls for Mass Adoption of Card Readers