• Home
  • Merchants
  • News
  • Home
  • Financial Institutions

    Financial Institutions

    We take pride in creating a merchant services program that complements each of our partners’ unique circumstances within its respective community, all while maximizing the program’s efficiency and revenue opportunities.

    About the Program

    FI Home
    Dashboard
    Ancillary Products
    Program Overview
    Marketing Resources
  • Merchants
  • Support

    Support

    FiNet’s industry-leading support team. In addition to hands-on personal support, we’ll provide a number of online resources for our merchant partners.

    Service Bulletins

    Important notices and updates concerning hardware or software along with instructions and next steps.

    Verifone VX 520
  • News

    FiNet & Industry News

    Covid-19: The digital acceleration it caused that no one saw coming

    September 1, 2020
    Read More »

    Mastercard survey shows global surge in digital payments

    June 19, 2020
    Read More »

    COVID-19 – What a Difference Eight Weeks Makes

    June 18, 2020
    Read More »

    Measuring COVID-19’s Impact On Consumers’ Payment Preferences

    June 3, 2020
    Read More »

    Report: April saw massive decline in card volume; Ohio fares best for faster recovery

    May 28, 2020
    Read More »

    Retailing 2020: Five Things To Watch

    May 27, 2020
    Read More »
  • Contact Us

    Contact Us

    Our industry-leading service team and business consultants are just a phone call or click away. 

    p:  800.487.5577
    f:   866.476.8416

    info@finet.net

    Facebook
    Twitter
    Youtube

    Hours of Operation

    Monday – Friday: 8:30 am – 5:00 pm ET

    After-hours “emergency” support is available by calling the appropriate 24/7 help desk for your processing service. Consult your program documentation or the sticker on your terminal hardware for the appropriate contact information.

  • Home
  • Financial Institutions

    Financial Institutions

    We take pride in creating a merchant services program that complements each of our partners’ unique circumstances within its respective community, all while maximizing the program’s efficiency and revenue opportunities.

    About the Program

    FI Home
    Dashboard
    Ancillary Products
    Program Overview
    Marketing Resources
  • Merchants
  • Support

    Support

    FiNet’s industry-leading support team. In addition to hands-on personal support, we’ll provide a number of online resources for our merchant partners.

    Service Bulletins

    Important notices and updates concerning hardware or software along with instructions and next steps.

    Verifone VX 520
  • News

    FiNet & Industry News

    Covid-19: The digital acceleration it caused that no one saw coming

    September 1, 2020
    Read More »

    Mastercard survey shows global surge in digital payments

    June 19, 2020
    Read More »

    COVID-19 – What a Difference Eight Weeks Makes

    June 18, 2020
    Read More »

    Measuring COVID-19’s Impact On Consumers’ Payment Preferences

    June 3, 2020
    Read More »

    Report: April saw massive decline in card volume; Ohio fares best for faster recovery

    May 28, 2020
    Read More »

    Retailing 2020: Five Things To Watch

    May 27, 2020
    Read More »
  • Contact Us

    Contact Us

    Our industry-leading service team and business consultants are just a phone call or click away. 

    p:  800.487.5577
    f:   866.476.8416

    info@finet.net

    Facebook
    Twitter
    Youtube

    Hours of Operation

    Monday – Friday: 8:30 am – 5:00 pm ET

    After-hours “emergency” support is available by calling the appropriate 24/7 help desk for your processing service. Consult your program documentation or the sticker on your terminal hardware for the appropriate contact information.

Covid-19  ·  Mastercard

Mastercard Says New Data Show Spending Headed Toward ‘Normalization Phase’

FiNet
May 19, 2020

New network data from Mastercard Inc. show U.S. switched volume is off 6% year-over-year for the week ending May 7 compared with a 26% decline in the week ending April 30.

Mastercard on Thursday released two more weeks of network data, for the weeks ending May 7 and April 28, after earlier issuing data for the preceding weeks in April. After several months of declines in consumer and business spending due to governmental lockdown orders worldwide to control the Covid-19 pandemic, Mastercard now says the economy may be moving from what it calls “stabilization” toward “normalization” as restrictions gradually ease in many places.

“We believe that we are starting to see the transition from the stabilization phase to the normalization phase in some markets, although it is very early days,” Mastercard said in a report. “The stabilization phase is characterized by spending stabilizing around new lower levels as a result of compliance with social distancing and mobility limitations. The normalization phase occurs when these restrictions are relaxed and spending begins to gradually recover from the new lower levels, with some sectors recovering faster than others.”

Worldwide switched volume was down 12% in the May 7 week from a year earlier compared with its 30% decline in the week ending April 14. Mastercard’s worldwide transaction numbers were mostly in line with the volume changes, most recently off 12% in the May 7 week compared with 24% declines for the weeks of April 7 and 14.

Some sectors, especially travel, remain in the tank although there are signs improvement. Cross-border volume, closely linked to travel, was down 43% in the May 7 week compared with the 55% year-over-year decline in the week ending April 14. With many stores and restaurants still either closed or having switched to online ordering, cross-border card-present volumes were down about 80% as of May 7 from a year earlier, up a few percentage points from most of April. But card-not-present cross-border volume in non-travel categories is up by more than 30% year-over-year.

“Switched volume is showing an improving trend over the past two weeks, in part due to the relaxation of social-distancing measures in several markets and the impact of fiscal stimulus in the United States,” Mastercard’s report says. “Cross-border volume continues to be impacted by the decline in travel, although we have seen modest improvements over the last week in part due to an increase in intra-Europe travel.”

Sanjay Sakhrani, a payments-industry analyst at New York City-based investment firm Keefe, Bruyette & Woods, said in a report that “we’re encouraged” by Mastercard’s new numbers, which he said were “in line to modestly better” than KBW’s expectations for the company’s second quarter.

Source: Digital Transactions


How businesses are redesigning payments to survive the pandemic
Previous Article
Mastercard extends EMV deadline, launches fraud mitigation plan
Next Article

7355 California Avenue
Boardman, OH 44512
p: 330.702.8415
    800.487.5577
f: 330.702.8416
    866.476.8416

© 2020 FiNet, Inc.

FiNet is a registered ISO/MSP of BMO Harris Bank NA

Privacy Policy
Envelope
Facebook-f
Twitter
Youtube

Financial Institutions

Financial Institutions Home
Program Overview
Dashboard
Marketing Resources
Ancillary Products

Merchants

FiNet Program
Multi-Function Solutions
Retail POS Systems
Additional Solutions
Support
FREE Cost Analysis

Company

News
Contact Us
Click to access the login or register cheese
This site may use cookies to enhance your site experience and for analytical purposes. By clicking "Accept", you agree to our use of cookies and other terms outlined in our privacy policy.AcceptPrivacy Policy