No thanks, stay here.  

  We notice you are visiting from a U.S. Internet provider. Switch to our U.S. website.

Industry News

Canadian consumers more confident, ready to spend

By Joseph Trigliari

23/11/2009 - Canadian merchants - especially in the tourism, entertainment and home improvement sectors - may soon see increased demand for credit card processing as Canadian consumers grow in confidence and warm up to spending, said a new report.

According to the Nielsen Company's latest Global Consumer Confidence Index, Canadian consumer confidence rose to 94 this quarter, up 4 points since July and 10 points since April. Canadian consumer confidence has been higher than that of both the U.S. and the global average since May 2008.

This increased confidence will likely lead to higher spending, as 41 percent of Canadians said it was a good or excellent time to buy, marking an increase of 7 percent since June.

Canadian consumers reported that most of their spending will go toward paying off loans and credit card debt, indicating that they will be in a more financially stable position to start spending with their credit and debit cards again.

While important for any company, businesses in the tourism, out-of-home entertainment, and home improvements and decorating sectors will find it especially important to offer credit card processing, as these were the top three categories for planned spending.ADNFCR-2514-ID-19474791-ADNFCR

Related News - Credit Card Processing

MasterCard reports $1.3 billion net revenue for Q4 2009 as payment processing volume increases

05/02/2010

Fueled by increased payment processing and cross-border volumes, MasterCard reported a fourth quarter 2009 net income of $294 million, or $2.24 per diluted share, the company announced Thursday.

Full Article

Visa posts 1Q 2010 earnings, driven by higher debit and credit card processing

04/02/2010

Increased use of credit and debit cards as well as rebounded consumer spending have led to solid first quarter earnings for payment processing giant Visa, the company announced Wednesday.

Full Article

Consumers more concerned with paying off credit cards than mortgages

03/02/2010

Are credit cards more important than mortgages?

Full Article

Credit card offers rise in Q4 2009, reversing three-year decline

01/02/2010

In a positive indication of the health of the credit card processing industry, direct mail credit card offers reversed a three-year decline to post growth in the fourth quarter of 2009, Mintel Comperemedia recently reported.

Full Article