A Boston Consulting Group study commissioned in May 2008 estimates $380 billion in gross dollar volume globally from prepaid transactions by 2015.
TNB’s experience and understanding of the debit card market was clearly demonstrated at the Conference. Attendees learned how to identify card trends and assess cardholder data in order to make more strategic decisions to drive growth, manage risk, and build loyalty.
Credit unions continue to turn to TNB for their debit card processing because of its proven understanding of the market. TNB offers exemplary service and support that simplifies card management, improves the results of the card program, and gives members a more desirable card product.
The Nilson Report points to a decline in the number of cash transactions. Unlike checks, which have been shrinking for some time, use of cash has remained fairly constant until recently. This is a direct result of people using payment cards more frequently for small-ticket items, such as quick-service restaurants.
Tower Group research shows that 90 percent of U.S. households have a debit card linked to their checking account. Debit card usage continues to grow at a faster pace than other forms of payment and is driving the displacement of cash and check
The ADP Small Business Report shows that the job losses among small businesses were steep during December 2008. Small businesses lost 281.000 jobs during December.
Note that small businesses have not lost as many jobs as larger companies. As the above chart shows, in December some 693,000 jobs were lost at all company sizes. Roughly 60% of the job losses were at medium to large businesses (the green line) as compared with job losses in small businesses (the blue line).
This is why I think small businesses have a good shot at getting ahead during this slow economic period compared with their larger brethren (assuming they have the free cash flows to get through it).
The big companies are reeling from job losses and expense reductions. Positions are being cut and corporate employees are distracted and fearful they will be next. Employees will be afraid to step out of line and takes risks on anything unproven or new in that kind of environment. Read More