Wednesday, April 6, 2011

Visa Inc. Announces $400 Million Additional Funding of Litigation Escrow Account

SAN FRANCISCOApril 6, 2011 /PRNewswire/ -- Visa Inc. (NYSE: V) today announced that on March 31, 2011, it had deposited$400 million into the litigation escrow account previously established under the Company's retrospective responsibility plan (the "Plan").  Under the terms of the Plan, the $400 million deposit has the effect of a repurchase by the Company of 5,419,273 shares of class A common stock at approximately $73.81 per share, on an as-converted basis, by reducing the as-converted class B common stock share count from 125,253,161 to 119,833,888. The deposit and price per share calculations were conducted in accordance with the Company's certificate of incorporation using the volume-weighted average price over the 8-day pricing period from March 25, 2011, through April 5, 2011. As a result of the deposit, the conversion rate applicable to the Company's class B common stock has decreased from 0.5102 to 0.4881 as of March 31, 2011.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency.  Underpinning digital currency is one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants.  Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers.  Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products.  For more information,
Jack Carsky or Victoria Hyde-Dunn, Investor Relations
Visa Inc.
Tel: +1 415 932 2213

Will Valentine, Media Relations
Visa Inc.
Tel: +1 415 932 2564
SOURCE Visa Inc.
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Dodd in the Water?...Dodd-Frank Should be Amended Says "Frank"

Frank Seeks to Amend Dodd-Frank
(from Wall Street Journal Blog on 4-6-2011)
Rep. Barney Frank announced Tuesday that he’d like to amend a provision of his sweeping Dodd-Frank financial law – the one that limits banks’ processing fees.  And he made it clear that’s all he wants to change.

The debit card fee provision, he said, is “the only part of the financial reform bill that needs to be amended
.. read more»

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Worst Eight Companies in America According to The Consumerist

Click to Enlarge
Bank of America and Walmart Take the Lead in the Elite 8 Round of's 'Worst Company in America'

Consumers Fight Back Against Poor Policies, High Prices and Hidden Fees
NEW YORKApril 6, 2011 /PRNewswire-USNewswire/ -- Irritated consumers have moved bank giants, retailers, and other companies that continue to miss the mark on customer satisfaction into the Elite 8 of's sixth annual "Worst Company in America" tournament.  Top-seeded Bank of America, a fixture of the tournament since acquiring Countrywide, cemented their spot in the Elite 8 with a whopping 87 percent of the vote against DirecTV. They will face the world's largest retailer Walmart in the first match-up of the latest round, live today.  
Fan-favorite and 2010 Grand Champion Comcast has advanced to the Elite 8 round for the fourth straight year and will go head-to-head with telecom giant AT&T.  Ticketmaster, notorious for its endless service fees, is emerging as a potential contender beating out Sony with 83 percent of the vote and has made it into the Elite 8 round for the third year in a row.  The ticket giant will face Chase, who recently upset customers by pulling the plug on its debit card reward programs.  
Rounding out the Elite 8 match-ups is heavy fan favorite BP and health provider WellPoint, known for it's major practice of weeding out policyholders after they've been diagnosed with a medical condition that could cost the insurer a significant amount of money.
The 'Worst Company in America' is a parody of the NCAA basketball tournament, currently taking place. Each week, companies go head-to-head in the single elimination tournament and will be knocked out by visitors' votes until a Grand Champion is named on April 18.  Consumers can log-on to today to vote in the first match-up of the Elite 8 between Bank of America and Walmart, live at 3:00 p.m. ET. Throughout the next two weeks consumers will see Apple, BP, and Ticketmaster, among others, fight for the glory of the following round – the Final Four which kicks off on April 12th.
"Companies usually have one of the three traits that secure their spot in the 'Worst Company in America' tournament," saidMeghann Marco, Executive Editor of "These companies either have a product that's annoying to use or aggravating to fix when broken, they've earned headlines for outrageous behavior or they've lessened the choices available to consumers."
Consumers can check back regularly at for updated brackets and voting opportunities throughout the month of March and April.  The 2011 Grand Champion in's "Worst Company in America" will receive the prestigious Golden Poo Award, a golden statuette modeled after a pile of poo.
Upcoming elimination dates:
  • April 12 – Final Four
  • April 14 – Championship Battle
  • April 18 – Winner!

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Electronic Funds Transfer Association Supports Bills Delaying Implementation of Debit Card Fee Caps

Key Trade Group Says Rushing to Meet Deadline Could Hurt Consumers

FAIRFAX, Va.--(BUSINESS WIRE)--The Electronic Funds Transfer Association is endorsing federal legislation seeking to delay the July implementation of Federal Reserve rules limiting how much banks can charge merchants for debit card services.
“EFTA cannot support a plan that would require the payments industry to implement deep and systemic changes without adequate time to plan and test those changes”
The “Durbin Interchange Amendment,” Section 1075 of the Dodd-Frank Act, required the Federal Reserve to develop rules and standards for regulating debit card fees by April 21. Implementation of those rules is currently set to take effect three months later.
EFTA supports bi-partisan legislation (S. 575/H.R. 1081) sponsored by Sen. John Tester (D-MT) and Rep. Shelley Capito (R-WV) that would delay the Federal Reserve’s implementation of the Durbin amendment beyond July.
“EFTA cannot support a plan that would require the payments industry to implement deep and systemic changes without adequate time to plan and test those changes,” said Kurt Helwig, president and CEO.
In an April 1 letter to Congressional leaders, EFTA stated complying with the Durbin amendment could not begin until the Federal Reserve issues “clear and concise” rules and standards. Federal Reserve Chairman Ben Bernanke has already notified Congress that the Fed is sorting through 11,000 comment letters on the rule and will not make the April 21 deadline.
Complying with the Federal Reserve rules will require “prudent end-to-end testing and validation to ensure the integrity of the global payments system,” according to James Hanisch, executive vice president of CO-OP Financial Services and Chairman of the EFTA Board of Directors.
“We need a minimum of three and possibly as many as 12 months from the publication of the final rules until we can implement,” Hanisch said. “These rules not only affect merchants, financial institutions, and processors. They affect hundreds of millions of consumers. Probably more than anyone, EFTA’s members appreciate the Fed’s challenge in addressing the complex operational and technical issues involved in implementing the Durbin amendment. Delay will help ensure it gets done properly.”
About the Electronic Funds Transfer Association
The Electronic Funds Transfer Association is a leading inter-industry trade association dedicated to the advancement of electronic payments systems and commerce. Its mission is to inform and educate the public on issues of importance to the electronic payments industry and to objectively promote the adoption of electronic payments and commerce.


for Electronic Funds Transfer Association
Chaddsford Planning Associates, LLC
Bob Bucceri, 610-918-1161
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Isis to Roll Out NFC Mobile Commerce Platform in Salt Lake City

Isis Advances Mobile Commerce with First Market

Isis Rolls Out Mobile Commerce Program in Salt Lake City and Partners with Utah Transit Authority to Make Entire Transit System Isis-Enabled
SALT LAKE CITY--(BUSINESS WIRE)--Isis, the mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, today announced it will pilot the Isis mobile commerce program in Salt Lake City in early- to mid-2012. Isis has also entered into an agreement with Utah Transit Authority (UTA) to make the entire UTA transit system Isis-enabled, marking the deployment of Isis as the first commercially available mobile transportation fare payment program in the U.S. Additionally, Isis is investing in the necessary infrastructure to enable mobile commerce on a nationwide basis and will be available to all merchants, banks, payment networks and mobile carriers.
“On behalf of the residents of Salt Lake City & County, Mayor Corroon and I would like to express our excitement that the Salt Lake City area has been chosen to lead the roll-out of Isis mobile payments
“By working with the Utah Transit Authority, Salt Lake Chamber and Salt Lake City-area merchants, Isis is bringing the mobile commerce vision to reality. Salt Lake City consumers will experience a new way to shop, pay and save,” said Michael Abbott, chief executive officer at Isis.
Salt Lake City: The Place You Can Leave Your Wallet At Home
Isis, which announced its formation in mid-November 2010, is focused on bringing mobile commerce to Salt Lake City using mobile phones to make point-of-sale purchases through the use of near-field communication (NFC) technology. The Isis system will evolve to offer customers a highly secure and convenient way to pay, redeem coupons and store merchant loyalty cards, all with the tap of their phone.
The Isis mobile payment program will roll out in 2012 and allow consumers to use their Isis-enabled mobile phones to make point-of-sale purchases at retailers across the Salt Lake City area and on UTA transportation.
“On behalf of the residents of Salt Lake City & County, Mayor Corroon and I would like to express our excitement that the Salt Lake City area has been chosen to lead the roll-out of Isis mobile payments,” said Mayor Ralph Becker, Salt Lake City.
“We are pleased Isis mobile payments will be available throughout the Salt Lake City area starting with the relationship with UTA, and we look forward to many other merchants throughout the county offering this exciting mobile commerce service,” added Mayor Peter Corroon, Salt Lake County.
UTA is a pioneer in contactless payments for transit in the U.S., having implemented a “tap on, tap off” system in early 2009. The existing system, which allows consumers to pay with their contactless credit and debit card by tapping an electronic fare reader on a bus or train platform, will allow Isis-enabled mobile phone users to pay using their phone.
“Partnering with Isis is a critical step forward in widespread mobile contactless acceptance throughout the Salt Lake City area,” said Michael Allegra, General Manager at Utah Transit Authority. “Isis allows us to build upon our existing ‘tap on, tap off’ system, and provide our customers with a new, more convenient way to use public transportation using only a mobile phone.”
“Salt Lake City is on the cutting edge in so many ways and we are committed to incorporating promising technologies to improve the quality of life for the people of our community,” said Lane Beattie, president and CEO of the Salt Lake Chamber. “As Utah’s largest business association representing over half the state’s workforce, we are excited about Isis as it gives our merchants a way to streamline their transactions and, more importantly, connect with their customers.”
About Isis
The joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building ISIS™, a national mobile commerce venture that will fundamentally transform how people shop, pay and save. The Isis mobile commerce network will be available to all merchants, banks, payment networks and mobile carriers. Isis is a trademark of JVL Ventures, LLC in the U.S. and/or other countries. Other logos, product and company names mentioned herein may be the trademarks of their respective owners.

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NFC in 2011: Sprint Prepares to Take on Isis


U.S. operator Sprint is planning to launch its own NFC-enabled mobile payments service ahead of Isis, the joint venture from the three other major U.S. operators, AT&T, T-Mobile and Verizon Wireless. While Isis plans to launch commercial services in 2012, in conjunction with Discover and Baclays U.S., part of U.K. bank Barclays PLC, Sprint says it will launch this year.
Sprint logo 150x150The operator is also touting its more open business model as a key differentiator between the two carrier-led mobile wallet solutions. "We intend to make this an open solution where consumers can use their phone in a variety of physical locations," Kevin McGinnis, VP of Product Platforms at Sprint told Bloomberg this week. "Because we're allowing other brands and other institutions to participate, they can also tell their consumers that this is available on Sprint."
This post is part of an ongoing series on NFC here on ReadWriteMobile which will serve to get you up to speed on what NFC is, what notable developments are underway and what commercial programs using NFC will arrive this year. You can follow this series by clicking the tag (or bookmarking the tag) "NFC 2011."
This post assumes you are familiar with the term NFC as well as the technology's use in mobile payments. If you're just starting to learn about NFC, you should begin here with the first post in the series to get caught up.

Sprint Beats Isis to NFC-Enabled Mobile Payments Launch

In addition, Sprint plans to generate revenue in a different manner than Isis, which intends on taking a percentage of each transaction. Instead, Sprint says it could share in the revenue from sales off coupons sent to its customers' handset or targeted advertising, Bloomberg reported.
Transactions made using Sprint's mobile wallet solution would still be billed on customers' regular credit card statements.

Isis Launches First Pilot Program

As Sprint's news makes headlines, Isis, too is moving forward with its plans. The operator coalition announced the launch of its first pilot program this week. The new mobile commerce program will debut in Salt Lake City, Utah in "early-to-mid-2012." The group has entered an agreement with the Utah Transit Authority (UTA) to make the entire transit system Isis-enabled - that is, NFC-enabled, so passengers can pay for their tickets by tapping their phones to electronic fare readers on bus and train platforms.
Salt Lake City may seem an odd choice for a cutting edge emerging technology like this, but in reality, the city has been very forward-thinking in this area. In early 2009, UTA implemented a contactless payments system which works with credit and debit cards. That existing system will be modified to allow Isis customers to use their phones instead.
Isis says it's also still working on investing in the necessary infrastructure to enable mobile commerce nationwide by working with merchants, banks, payment networks and mobile carriers.

Transit System + Operator Support = NFC Adoption?

Elsewhere in the world where NFC has been successful, it often begins through a partnership between a mobile carrier and transit system. By incorporating NFC into a task people perform daily as a part of a routine - paying for their transportation fares - NFC is able to cross the adoption hurdle that faces all new technology-related behaviors.
In fact, in a recent research paper by SJB Research analyst Sarah Clark, she reported that a partnership with a single transit merchant can have the same mpact on adoption as bringing hundreds of merchants on board.
While it's critical that initiatives like these push the NFC movement forward in the U.S., once people are comfortable using NFC, they may then choose to change their default mobile wallet program from one provided by their mobile carrier to one provided by their handset manufacturer, like Apple or RIM, or by their mobile operating system's maker, as with Google Android.
Not surprisingly then, these operator-led moves come on the heels of reports regarding both Googleand Amazon's plans to integrate NFC into mobile payment systems of their own.

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New Payments Advisory Group to Assist Financial Institutions with Managing and Optimizing Debit Card Programs During Era of Industry Turmoil

Paur Payments Advisory Group to Aid Financial Institutions in Better Understanding and Managing Profitability of Debit Card Programs

THE WOODLANDS, Texas--(BUSINESS WIRE)--Andrew M. Paur, Esq. has announced the formation of an advisory service intended to assist financial institutions and other organizations involved in the electronic payments industry with strategic, operational, regulatory, fraud, and compliance issues. The goal of the new advisory firm is to assist financial institutions and other payments industry participants in navigating the complex payments landscape, while maximizing profitability and efficiency.
“the electronic payments business has become increasingly complex.”
Paur, who has worked in numerous capacities in the electronic funds transfer (EFT) industry ranging from in-house counsel of one of the largest payment networks in the country to the Director of Payments for one of the largest debit cards issuers in the country, said “the electronic payments business has become increasingly complex.” Paur added, “we believe that few financial institutions or payment providers possess the expertise or resources to address the myriad of strategic and tactical decisions associated with debit card programs.” Paur suggested the new organization represents a unique resource to which financial institutions and other organizations can turn for consultation with experienced payments professionals to build more successful, profitable, and secure payments programs. Paur noted that one of the biggest challenges facing the new payments advisory venture is that industry participants “don’t know what they don’t know.” Paur added that “our professionals have witnessed scores of financial institutions who have failed to properly optimize their debit card payment program due to their lack of understanding of the payments industry.” Paur indicated “the new payments advisory group is committed to assisting and educating industry participants about ways to maximize revenues, minimize expenses and fraud losses, and assessing risks associated with payments activity.” Paur further indicated that the advisory group intends to leverage its expertise and contacts in the industry to contribute to innovation within industry.
Paur noted that the need for such advisory services is greater than ever, especially for financial institutions, given the turbulence in the industry resulting from the Durbin Amendment.
Paur Payments Advisory Group Incorporated is an advisory firm specializing in issues relating to electronic payments. Through its experienced professionals and alliance partners, Paur Payments Advisory Group advises electronic payments industry participants on ways in which to maximize revenues, minimize expenses, minimize fraud and chargeback losses, and evaluate and quantify risk. Paur Payments Advisory Group provides advisory services for ATM operators, merchants, financial institutions, prepaid card program managers, processors, and electronic funds transfer networks. Paur Payments Advisory Group also assists financial analysts, investors, and private equity groups in understanding the complex payments landscape.


Paur Payments Advisory Group Incorporated
Andrew M. Paur, 832.482.2475

SpendingPulse March 2011 Retail Report: Most Sectors Continue to Record Solid Year-Over-Year Sales Growth

e-Commerce Continues to Show Strength while Electronics and Department Stores Achieve Positive Territory

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Advisors:
MasterCard Advisors SpendingPulse, a macroeconomic report tracking national retail and services sales, today provided summary results for performance of specific U.S. retail industries in March 2011. Electronics sales and Department stores showed modest gains while Luxury and e-Commerce recorded strong growth. Some segments of the Restaurant sector also showed strength in March. The travel sectors, particularly airlines, saw improvement as well, although the growth in airline spending may be attributable in part to fuel surcharges.
Data Source:
A macroeconomic indicator, SpendingPulse reports on national retail and services sales and is based on aggregate sales activity in the MasterCard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check. MasterCard SpendingPulse does not represent MasterCard financial performance. SpendingPulse is provided by MasterCard Advisors, the professional services arm of MasterCard Worldwide.
Michael McNamara, Vice President, Research and Analysis for MasterCard Advisors SpendingPulse, notes, “Most retail sectors continued to record solid growth year-over-year, similar to February, although we’re not seeing an acceleration of momentum from February to March. The lack of increased momentum in some sectors could be due to calendar shifts, given that Easter falls very late this year.”
Mr. McNamara also observes that gasoline prices remain a concern as the average price continues to be above $3.50 a gallon. “Compared to March 2010, we’re seeing drivers pump less gasoline,” he notes. “Based on what we’ve observed in the last three to four years, high gasoline prices typically result in consumers consolidating shopping trips, shopping closer to home, and making fewer trips to the brick and mortar locations as we get to Saturday. On the other hand, we’ve seen the e-Commerce channel benefitting somewhat from this trend.”
Here are details of some specific sectors for March 2011:
Total Apparel sales recorded their 8th consecutive year-over-year sales gains, increasing by 4.4% year-over-year. Nevertheless, March’s gain is approximately half of the average growth recorded between September 2010 and February 2011. All but one of the apparel sub-sectors recorded year-over-year sales growth in March. Children’s wear stayed above 10%, while the Women’scategory was in the 6-7% range. The only sub-sector posting a loss was Footwear, with sales declining 1.6%. The Easter calendar shift may have limited the year-over-year growth in the Men’s and Women’s Apparel segments.
The Furniture sector posted a modest increase of 2.4%, its 5th consecutive month of positive growth. While housing-related sectors are still challenged, this growth was about on par with the average growth rate for the prior six months. Nevertheless, year-over-year sales in March 2011 are still 8‐9% below the March 2008 level and more than 15% below the sales recorded in March 2006 and 2007, at the peak of the housing boom.
e-Commerce continued to grow in double digits, highlighting the continued strength in online sales. The sector posted its fifth consecutive month of double-digit growth, rising by 16.1%, higher than February’s 13.2% increase. Online Total Apparel grew by 18.7%, marking the 16th straight double-digit increase. The sub-categories of apparel also grew robustly, as did Department Storesat 8.4% and Electronics at 14%.
The SpendingPulse Luxury Index, which measures sales at high-end restaurants, food stores, department stores and general apparel categories, was up 8.5%, the largest year-over-year increase since December 2010, and the sixth consecutive month of growth.
About MasterCard Advisors
MasterCard Advisors provides payments consulting, information, analytics, and customized services to financial institutions and their merchant partners worldwide. Addressing complex challenges in strategy, marketing, risk, and operations, MasterCard Advisors helps clients maximize the value of their payments businesses. As the professional services arm of MasterCard Worldwide, MasterCard Advisors is uniquely qualified to provide clients with insights and solutions that drive tangible impact and financial gain. For more information, go to
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at Follow us on Twitter: @mastercardnews.

Consumer Confidence Falls 2.6 Points in March

Discover® U.S. Spending MonitorSM 
Consumer Confidence Falls 2.6 Points in March

Majority of Consumers Feel Economic Conditions are Getting Worse;
Discretionary Spending Falls as Gas Prices Rise
RIVERWOODS, Ill.--(BUSINESS WIRE)--Consumer confidence fell for the second straight month in March, as high gas prices correlated with discouraging consumer views about the direction of the U.S. economy, according to the Discover U.S. Spending Monitor.
“Though we know our economy counts on discretionary spending in order to grow, spending less on baseball tickets, new home appliances or a family vacation makes financial sense when consumers are feeling pain at the pump.”
The Monitor, a poll of 8,200 consumers tracking economic confidence and spending intentions on a daily basis, fell 2.6 points to 89.5, falling below 90 for the first time since December 2010. Fifty-three percent of consumers still rate the economy as poor, practically unchanged from February. Thirty-five percent of consumers rate the economy as fair, while just 10 percent rate the economy as good or excellent.
But 51 percent of Americans feel economic conditions are getting worse, a 7-point jump from February and the highest number the Monitor has reported since September 2010. Twenty percent of respondents feel conditions are the same, while 25 percent of the population feels the economy is improving.
March also showed a decline in consumers’ attitudes about their personal finances. Thirty-two percent rate their finances as good or excellent, down 3 points from February. Forty-two percent of consumers rate their finances as fair, and 24 percent say their finances are poor. When asked if their finances were getting better or worse, 48 percent said their finances are worsening, up 3 points from February. Twenty-seven percent of consumers feel their finances are unchanging, and 22 percent say their finances are improving.
Majority of Consumers Spending More on Gas, Groceries; Cutting Discretionary Spending
The Monitor is reporting that consumers are once again showing signs of off-setting high prices at the pump with cuts in discretionary spending. Overall, 33 percent of consumers expect to spend more in the month ahead, an 8-point rise from February. As well, for the first time since July 2008, a majority of consumers, 55 percent, are planning to spend more on gas, groceries and their mortgages. This number jumped 14 points from February. Consumers are offsetting the rising costs of household expenditures by reducing spending in the following areas:
  • Entertainment: Fifty-three percent of consumers are expecting to spend less in the next month on going out to dinner, movies or sporting events, up 6 points from last month. Thirty-five percent expect to spend the same, down 5 points from February, while 12 percent plan to spend more, unchanged from last month.
  • Home Improvement: Fifty percent of consumers plan to spend less next month on home improvement purchases, up 4 points from February. Thirty percent expect to spend the same, down 6 points from February, while 14 percent plan to spend more, unchanged from last month.
  • Travel and Memberships: Forty-eight percent expect to spend less on a vacation or health club membership, up 3 points from last month. Thirty-five percent expect to spend the same, down 5 points from February, while 12 percent plan to spend more, unchanged from last month.
“High gas prices inevitably take a bite out of consumers’ budgets,” said Julie Loeger, senior vice president of brand and product management for Discover. “Though we know our economy counts on discretionary spending in order to grow, spending less on baseball tickets, new home appliances or a family vacation makes financial sense when consumers are feeling pain at the pump.”
42 Percent Expecting an Income Shortfall Over the Next 30 Days
Despite consumers best efforts to balance their budgets in the wake of high gas prices, 42 percent say they are expecting an income shortfall in the next 30 days, 6 points higher than February and the biggest jump in the Monitor’s history. The jump comes despite the fact that 48 percent plan to have money left over after they pay their bills for the month, unchanged from February.
However, it has been two years since a majority of consumers reported having money left over. Furthermore, 27 percent of those consumers who do have money left over expected to have less money left over than the month before, a 5-point rise from February.
For more Discover U.S. Spending Monitor survey data, charts and information, please visit
About Discover U.S. Spending Monitor
The Discover® U.S. Spending MonitorSM is a monthly index of consumer spending intentions and capacity that is based on interviews with a random sample of 8,200 U.S. adults conducted at a rate of 275 per night. In addition to spending, the survey asks consumers their opinions on the U.S. economy and their personal finances. The Monitor began in May 2007 with a base index of 100. Surveys are conducted by Rasmussen Reports, an independent survey research firm (
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit

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