“On the Friday after Thanksgiving several retail sites remained below 80% for the majority of the shopping hours. In effect, one out of five online visitors could not complete their transaction on the desired site. Performance stabilized on Saturday and Sunday as sites overcame the rush of Friday,” said Roopak Patel, senior analyst in Keynote’s Public Services group.Shopping during working hours? Naw...
“On Monday, as people headed back to work, the response times skyrocketed to as high as 65 seconds for particular sites (average response time is typically between 14 and 17 seconds) and success rates plunged for several sites to well below 80%.”
The chip and pin system has been hailed as a major step forward in the fight against the £400m lost each year to card fraud. But some banks have not yet issued a single new chip card. And only one national retailer has the right equipment to read the cards in place in all of its stores.More information about the rollout is available at the Chip and PIN website.
The Association of Payment Clearing Services (Apacs), the industry body responsible for the change over, said it cannot confirm progress so far. But it said it was confident that most Britons would be using chip and pin by the end of 2004.
"We're receiving very positive feedback from our customers," said Tom Mueller, Wendy's president and chief operating officer. "They like the convenience of paying with a credit card and they appreciate the fact that the systems we've put in place ensure rapid service, both inside our restaurants and at Pick-Up Window."Wendy's accepts four major credit cards: American Express, Discover, MasterCard and Visa.
The latest Cambridge Consumer Credit Index survey indicates that American consumers intend to use less credit this holiday season.
"The results of the Cambridge Consumer Credit Index show that more consumers plan to use less credit for Christmas shopping, implying that more will be making purchases using savings and cash. Consumers already burdened with credit card debt also have high hopes of paying off their balances in full when the bills arrive in January. However, Cambridge's experience with the Reality Gap shows that consumers usually underestimate their willingness to take on debt and overestimate their ability to repay it quickly," said Jordan Goodman, spokesperson/financial analyst for the Cambridge Consumer Credit Index.
Craig Karmin reported in today's Wall St. Journal on the Chinese government's emphasis on card payment systems.
Success also could depend on prodding Chinese banks to issue cards. So far, they have been slow to embrace credit, but looming competition may provide the spark. Beginning in 2007, foreign banks will be allowed to offer cards in which bills are calculated in the Chinese currency. Already, Citigroup Inc. has taken a 5% stake in China's Shanghai Pudong Development Bank and, subject to regulatory approval, can increase its stake to 24.9%.China hopes to learn from Korea -- where card abuse followed similar initiatives.