First Data: Shoppers put Christmas on their credit cards -
Published Monday, January 13, 2014 at 10:00 am / Updated at 10:02 pm
Money Talks
First Data: Shoppers put Christmas on their credit cards

In the Money Talks blog, The World-Herald shares the latest in Nebraska business and development, with behind-the-scenes notes from our Money team. Read more and join the conversation.

First Data reported stores saw 6.1 percent dollar volume growth in December compared to the same month last year, with holiday shopping concentrated in that month given the late Thanksgiving holiday. That was a bump over November's 4.4 percent dollar volume growth.

The payments processing firm said the growth was supported by extended store hours, before and after Christmas, and promotions that lured in last-minute shoppers hunting for bargains.

“Spending growth was strong in December as shoppers were more confident and enjoyed stronger income growth compared to 2012, which encouraged consumers to open up their wallets this holiday season,” said Krish Mantripragada, First Data senior vice president.

He said spending growth on credit cards, up 7.8 percent compared to last December, hit a four-month high, with consumers increasingly turning to credit for discretionary holiday purchases.

First Data's monthly SpendTrend report tracks same-store point-of-sale data by credit, debit, gift cards and checks from nearly 4 million U.S. store locations serviced by First Data.

Contact the writer: Barbara Soderlin    |   402-444-1336

Barbara Soderlin covers food safety, ConAgra, technology and employment/unemployment issues.

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