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December 08, 2010

Study Shows More Than 75% of Noncash Payments Are Now Electronic

Fed.gifThe Federal Reserve's 2010 study of noncash payments released today revealed that "in 2009 more than 75% of all U.S. noncash payments were made electronically, a 9.3% annual increase since the Federal Reserve's last study in 2007. This growth and other statistics in the study emphasize consumers' increasing adoption of electronic alternatives for payments in the United States. The 2007 study revealed that in 2006 roughly two-thirds of the payments were made electronically."

Credicard and Elavon To Form Merchant Acquiring Business in Brazil

Elavon_logo-140px.jpg Citi_logo_140px.png Credicard, a wholly-owned Brazilian subsidiary of Citigroup, and Elavon have announced a binding agreement to establish a joint venture creating a merchant services company that will offer a full suite of payment solutions to the Brazilian marketplace. "The new company will be branded as “Elavon” and will be supported with the launch of a sales force with national coverage, as well as in-market operations, technology and product resources."

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