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June 03, 2009

The Way We Pay 2009 - UK Cash & Cash Machines

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Photo: AustinEvan
The Payments Council in the UK has announced the publication of The Way We Pay 2009: UK Cash & Cash Machines, providing the latest data on how UK consumers are obtaining and using cash and how this is forecast to change 2008 cash and cash machine data shows:

71% of all cash acquired by consumers came from cash machines

2.9 billion cash machine withdrawals were made last year - equivalent to 91 withdrawals per second

Cash payment volumes are forecast to fall by 27% over the next 10 years

If current trends persist, next year for the first time debit card spending will overtake cash spending by value in the UK. READ MORE »

Intuit to Acquire PayCycle

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Intuit has announced signing a definitive agreement to purchase PayCycle Inc., one of the nation’s fastest-growing online payroll services, serving more than 85,000 small businesses. According to Intuit, "the cash transaction is valued at approximately $170 million, subject to adjustment. Privately held PayCycle, based in Palo Alto, Calif., is a leader in online payroll for small businesses, accountants and financial institutions." READ MORE »

Headline News - June 3, 2009

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.
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