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Mastercard SpendingPulse: U.S. Retail Sales Grew 7.6%* This Holiday Season
According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive increased 7.6% year-over-year this holiday season, running from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.
“This holiday retail season looked different than years past,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings...
Retailers Say Small Businesses Are Hardest Hit by Rising Credit Card Swipe Fees
The National Retail Federation and a group of small retailers told Congress today small businesses are the hardest hit by high credit card “swipe” fees that are driving up inflation and that they want to see more competition in the payments market.
“Ongoing and unwarranted increases in swipe fees are especially damaging to small retailers,” NRF Chief Administrative Officer and General Counsel Stephanie Martz said. “We have heard many stories from small retailers about the extreme challenges posed by the current payments system and Visa and..."
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