U.S retail gasoline demand on average rose 1.9 percent last week from the previous week, as consumption rebounded from the post Labor day slump, according to the SpendingPulse report released Tuesday by MasterCard Advisors. Get the full story »
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Gasoline demand dropped 3% last week
U.S. weekly retail gasoline demand on average fell 3.1 percent, to 9.169 million barrels per day, last week, as the summer driving season draws to a close, according to the SpendingPulse report released Tuesday by MasterCard Advisors. Year-on-year, U.S. gasoline demand rose 0.7 percent, in the week ending Aug. 27, the survey showed. Get the full story »
Deal expands MasterCard’s online presence in Europe
MasterCard Inc. will buy U.K. payment services company DataCash Group Plc for $520 million in cash to expand its online commerce business and take market share abroad.
The world’s second-largest credit and debit card payment processing network said it is paying a 54 percent premium to DataCash’s Wednesday closing price. DataCash’s shares rose to a 10-year high. Get the full story »
Smartphones as an alternative to credit cards?
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AT&T Inc and Verizon Wireless are planning a partnership to displace credit and debit cards by letting consumers pay with the contactless wave of a smartphone, Bloomberg News reported, citing three people with direct knowledge of the plan.
The new venture may pose a competitive threat to payment networks such as Visa Inc and MasterCard Inc, the report said.
The partnership, which also includes T-Mobile USA, may work with Discover Financial Services and Barclays Plc to test a system at stores in Atlanta and three other U.S. cities, the people told the agency. Get the full story »
Gas demand rose leading up to the 4th
U.S. weekly retail gasoline demand rose 1.6 percent in the week ending July 2 as the Fourth of July holiday weekend approached, the SpendingPulse report said Wednesday.
Average gasoline demand rose to 9.649 million barrels per day last week, while the national average retail price for gasoline remained unchanged at $2.74 a gallon, the survey showed. Get the full story »
