New analysis from Frost & Sullivan, World EFT POS Terminals Market, finds that the market earned revenues of over $2 billion in 2008, and estimates this to exceed $3.4 billion in 2014.

Vendors in this domain are continuing to innovate and offer greater functionality at the point of sale, encouraging retailers to upgrade their legacy systems.

The current economic crisis, which started in late 2007, has resulted in prolonged recession in some of the major POS markets in the United States, Western Europe, and parts of Asia and Latin America. As the eventual recovery cycle is unpredictable, all participants in the POS industry will continue to be negatively affected by the disruption in credit markets and macro-economies in the short term.

Global credit markets have also been affected by declining consumer confidence and spending worldwide. Hundreds of retail chains and several high-profile financial institutions have filed for bankruptcy in recent times. Many promising projects have been either shelved or delayed due to the lack of access to credit or capital. Apart from lower sales volumes, the steep discounts offered by manufacturers to tide through this crisis erode profit margins further.

With growing awareness on the latest technologies and multi-application capabilities of the new generation of terminals, the focus on price is expected to diminish and result in significant investments.

At present, EFT terminals are capable of running a range of concurrent applications such as money transfer, bill payment, age verification, mobile top-up, couponing, and so on. Loyalty programs and gift cards applications are the most popular worldwide. This allows merchants to identify the profiles of potential customers and segment them according to their lifestyle and buying behavior. Moreover, it also enhances the overall shopping experience for consumers.

For more information, visit frost.com.

Get Equifax Credit Watch Gold 3-in-1 Now!

An excerpt from the article…

Some of them offer cash back rewards, some points, and some miles that can be used to travel. According to them none of the cards listed limits the amount of points, miles, or cash back that you can earn. Also none of the cards charge an annual fee in the first year…

For more information, visit christianpf.com.

Get Equifax Credit Watch Gold 3-in-1 Now!

The average 15-year fixed mortgage hit a new low, retreating to 4.20 percent, as did the larger jumbo 30-year fixed rate, down to 5.55 percent. Adjustable rate mortgages were lower as well, with the average 5-year ARM falling to 4.06 percent while the average 7-year ARM sank to 4.48 percent.

Increasing worries about the health of the global economy and concerns over a possible double-dip recession in the U.S. have underscored investors’ appetite for the safety of Treasury securities. Mortgage rates are closely related to yields on long-term government bonds. The dour economic outlook and heightened demand for U.S. Treasury debt has kept mortgage rates on a downswing. But despite the tremendous affordability brought about by record low mortgage rates and a sharp drop in home prices, consumers are reluctant to take the plunge into homeownership.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.75 percent, the monthly payment for the same size loan would be $1,043.29, a savings of $198 per month for a homeowner refinancing now.

For more information, visit bankrate.com

Get Equifax Credit Watch Gold 3-in-1 Now!

The MWAA is a not-for-profit organization committed to providing training, education and networking opportunities to the Midwest acquiring community. Attendees at the annual conference are ISO managers and consultants, merchant level salespersons, and industry experts. The schedule for the MWAA Conference includes panels on social media, ACH payments, and the presentation of a Lifetime Achievement Award.

For more information, visit bluepay.com.

Get Equifax Credit Watch Gold 3-in-1 Now!

The facility, a mobile interactive classroom where local students learn basic money management skills, will be designated specifically for metropolitan Houston, Beaumont and other communities served by Junior Achievement of Southeast Texas. Because it is mobile, the unit can travel to different parts of the region year-round, enabling it to be stationed close to the schools it will serve.

The Capital One/Junior Achievement Finance Park™ program begins with four weeks of intensive in-classroom financial education lessons developed by Junior Achievement. Students then have the opportunity to put their newly learned money management skills to the test. This innovative learning environment, called Capital One/Junior Achievement Finance Park™, houses a mock city where students can experience the challenges of making real-life decisions about their finances.

While at Capital One/Junior Achievement Finance Park™, the students are assigned fictional jobs, incomes, families and expenses. They are then expected to develop and to manage their own individual budgets. Students are faced with choices about housing, transportation, savings, furnishings, investments, food, entertainment, phone, cable, and charitable contributions — all of the decisions they will ultimately make upon entering adulthood.

For more information, visit Houston.ja.org.

Get Equifax Credit Watch Gold 3-in-1 Now!

It will take decades for many Americans, neighborhoods and small businesses to recover from this devastating foreclosure and financial crisis. The crisis has gravely impacted all Americans, particularly communities of color and families with children.

Unfortunately, the call made by the civil rights community in April 2007 to place a moratorium on foreclosures in an effort to help stem the impact of the impending crisis was ignored. For over a decade, NFHA and its member organizations have worked to help borrowers who had fallen prey to abusive, discriminatory and predatory financial schemes. For over a decade, we have called upon regulators to reign in predatory lenders and make it harder to originate toxic mortgages. For over a decade, we have fought hard for meaningful and effective reform of the mortgage market.

Today, we are grateful that our call for financial reform was not ignored and that it included key civil rights safeguards. This critical piece of legislation brings us one step closer to improving the financial landscape for millions of Americans. While not perfect, the legislation does provide major changes that the civil rights community has long championed. Chief among these is the establishment of the Consumer Financial Protection Bureau, which includes an Office of Fair Lending, tasked with the primary focus of developing and implementing fair rules for the road so that consumers will not be taken advantage of when they try to purchase a home, buy a car, or obtain a credit.

For more information, visit nationalfairhousing.org.

Get Equifax Credit Watch Gold 3-in-1 Now!

Regarding potential First Time Home Buyers, key findings included:

• Nearly one third have anxiety over the affordability of owning a home.

• 7 in 10 indicate that the First Time Home Buyer’s Tax Credit has not truly factored into the timing of when they decide to purchase a home.

• Ninety-two percent of respondents indicate that having additional time before their first payment due date would be helpful.

Regarding First Time Home Buyers who have purchased a home in the previous 12 months, key findings included:

• Fifty-one percent indicated that the monthly expense of owning a home was more than they calculated.

• Although 7 in 10 respondents said that the unexpected expenditures leveled out over time, another eighty-seven percent said that they changed their lifestyle as a result of the additional expenses.

• Nearly one third indicated that they paid for these unexpected expenditures with a mixture of cash and credit, perhaps indicating a lack of liquid funds.

Also among the findings of the BBVA Compass First Time Home Buyers Online Survey was information related to the actual process of purchasing a home. Potential First Time Home Buyers indicated that when looking for financing on their new home purchase, the item that will be most important to them, but likely also the most confusing aspect, is understanding the process. Ultimately, the First Time Home Buyer is seeking someone who will provide clarity through each step of the process, from loan options to factors that might affect the rate obtained.

Both segments of First Time Home Buyers were also overwhelmingly in favor of mortgages that allow breathing room between closing and the due date of the first payment. With this financial cushion, the First Time Home Buyer indicated that they would be in a better position to pay off credit cards and other bills, as well as make some of those unexpected purchases (household items and improvements) that come along with owning a home.

The BBVA Compass First Time Home Buyer Mortgage

The BBVA Compass First Time Home Buyer Mortgage is a product designed with the First Time Home Buyer’s needs, both pre- and post-purchase, in mind. The product features a host of online resources that guide the buyer through the purchase process, a required financial literacy course to help them understand the financial commitment being made and a mortgage with terms that allow some early financial breathing room so that the buyer can truly make their new house a home.

Features of the First Time Home Buyer Mortgage include:

• One posted rate
• First payment is not due for three months
• No lender fees (Includes PMI, Origination, Processing, etc.)
• As low as 5% down payment
• BBVA Compass Online Education Center (Includes educational videos, calculators, etc.)
• FDIC Money Smart Home Buyer Education Course

Each participant in the First Time Home Buyer Mortgage program will also receive a BBVA Compass “What To Expect”. This communication is a simple document which concisely outlines each step of the mortgage process, from application to closing, along with helpful tips and documents needed along the way.

For more information, visit bbvacompass.com.

Get Equifax Credit Watch Gold 3-in-1 Now!

When statement holders saw how long it would take to pay off their balance by making the minimum payments, many were inclined to reach out to learn more about effective debt management.

Since the phone number and grid started to appear on credit card statements in February, GreenPath Debt Solutions has received more than 14,000 calls from consumers who said they called the number on their statement.

Following is some feedback from credit counselors

* Callers say that credit card statements are now much easier to read. They are finally getting the nudge that they need to seek education on personal finances and debt issues.

• Callers are often feeling lost and even embarrassed over their situation.

• Often it is the first time they have spoke with anyone about their situation.

• What’s really impressing card holders is the table that indicates how long before the debt is paid off if they only make the minimum payment.

• Some callers are just shopping around and comparing their interest rates to what GreenPath can offer on a debt management program.

• Callers are showing a newfound awareness and preoccupation with interest rates. All of a sudden, clients are aware of the APR and how just making the minimum payments is not an adequate action plan to managing the debt.

• More people seem more motivated to get out of debt. The payoff box on their credit card statement has really been shocking clients into doing something about their debt. Especially for those who see it will take them 20 years or more to pay off their card at the minimum payment.

• Most callers are ready to take action and want to focus on reducing their interest rates.

• The convenience of having a phone number documented on credit card statements is a big help because many consumers are always on the go and don’t have the time to complete their own research.

For more information, visit greenpath.com.

Get Equifax Credit Watch Gold 3-in-1 Now!

While books are popular with Internet shoppers, clothes are also a major online category. In fact, in China, clothes are the most common Web purchase. Three-quarters of Chinese respondents say that they purchase their outfits online — more than in any other country studied. In the Netherlands, just under half of participants report buying outfits on the Internet — tying with books as the most common item people buy online. Clothing is also a dominant online category in Japan — second only to books — with 45% of respondents shopping for apparel on the Web. In addition, clothing is a top-three online purchase in the US.

Music is also an important online category. It ranks #1 in the US (44%), #2 in the Netherlands (36%) and #4 in Japan (38%). It is less dominant in China and Brazil, though about a quarter of respondents in both countries buy music online.

In spite of the many commonalities in shopping preferences among countries, there also are some key differences. For example, in China and Japan, almost 40% of respondents buy food for their daily meals online. This is in sharp contrast to the US (13%), Brazil (7%) and the Netherlands (4%), where relatively few people shop for daily meals online.

In addition, almost half of Chinese respondents and a third of Japanese respondents buy cosmetics online. In the US and Brazil, only about a quarter of online shoppers buy cosmetics on the Web — and in the Netherlands, just 9% purchase makeup online.

Digital equipment is another category where there are marked geographic differences. Close to half of online shoppers in China and Brazil purchase digital equipment on the Internet. This is a far greater number than the US (38%), the Netherlands (30%) or Japan (26%).*

*Respondents could select multiple items they purchase online.

For more information, visit surveysampling.com.

Get Equifax Credit Watch Gold 3-in-1 Now!

Rapid Alerts by Wells Fargo are enabled by Visa’s transaction alerts platform. Alerts are sent on behalf of Wells Fargo directly from VisaNet, Visa’s global processing network, typically within seconds of a transaction occurring. Rapid Alerts are triggered when the transaction meets certain criteria previously selected by the Wells Fargo Visa account holder and delivered via text message or e-mail. Rapid Alerts let consumers monitor their Wells Fargo Visa credit card account activity and take immediate action if they believe a potentially fraudulent transaction is taking place.

Rapid Alert messages contain the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location. Rapid Alert messages help customers track their spending and better manage their finances. Customers also will be alerted to Wells Fargo Visa credit card payments that are declined, which may also help remind customers of recurring payments that they forgot to update due to a reissued, lost or stolen card.

For more information, visit wellsfargo.com.

Get Equifax Credit Watch Gold 3-in-1 Now!