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10/11/2009 -
The credit crunch in the U.S. may be coming to an end, suggesting an optimistic future for the payment processing industry in both the U.S. and Canada.The Wall Street Journal reported Monday that, according to the presentations of several credit card companies at the BancAnalysts Association of Boston Conference on Friday, the credit downturn may be on its way out.
In response, shares of major credit card companies rose on Monday as investors expressed confidence in consumers' ability to pay off their credit card bills.
Though the credit market is not yet back to positive territory, "[f]inally we have a boundary on how bad things are going to be," Richard Shane - an analyst for global securities and investment banking firm Jeffries - told the Journal.
The possible end to the credit crunch is good news for merchants in both the U.S. and Canada, as it signals that consumers are now financially healthy enough to pay off their credit card bills.
As a result, it is becoming more important than ever for merchants to offer credit card processing, as customers are expected to start resuming their credit card spending.
