| A change is on the cards
Consumers have become accustomed to seeing rates on their credit cards rise and fall in line with changes to official interest rates. While this is still the case with home loans and personal loans, it is no longer the case with credit cards any more. Cardholders should be alert to these changes in lenders' behaviour. They may find they are using a card that is now very expensive compared to similar offerings elsewhere. Early last month Westpac lifted credit card interest rates, by over a half of 1 per cent in some cases, without reference to any movement in official cash rates. The changes take its rates to 18.99 per cent for the Holden card, 17.99 per cent for the standard and gold 55-free-day cards and the student card, and 16.25 per cent for the no-annual-fee card.
Credomatic Ranks Hypercom Best Payment Provider in Central America
Hypercom Corporation announced that Credomatic, the largest merchant acquirer in Central America, has named Hypercom the best provider of electronic payment products for Central America . In Credomatic's just completed annual selection and evaluation of suppliers, Hypercom's payment systems ranked 97% out of a possible 100% in product quality, features and benefits, delivery, warranty, reclamations and additional services. "Hypercom is the most trusted provider of electronic payment terminals and transaction network devices in Central America ," said Martha Bonilla, Administrative Manager of Credomatic. "Credomatic is the most influential card issuer and merchant acquirer in Central America," said Jaime Arroyo , Managing Director, Caribbean and Central America, Hypercom Corporation. "Their ranking of Hypercom is particularly gratifying, speaks to our products' competitive advantages, and strengthens our ability to expand our market share in Central America ." The use of payment cards and terminals is escalating rapidly throughout Central America .
Merchants Should Be Preparing For The Holidays Now
Just as most consumers begin to enjoy summer, it's time for savvy merchants to put the finishing touches on holiday sales plans. While it is difficult to estimate the volume of "gifting" purchases made online, there is no doubt about the customers' penchant for buying gifts via this channel. During the 2006 holiday season, the e-tailing group, in conjunction with StartSampling, a marketing services company, conducted the inaugural Mindset of the Multichannel Shopper Survey. The survey found that 54 percent of those who intended to do any holiday shopping online did so because it saves time and money, with the latter being at the forefront of shoppers' minds. We don't anticipate much will change during the coming year except the web channel's share of wallet will continue to expand.
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