Wednesday, November 10, 2010

First Data SpendTrend Report Positive Indicator For Merchant Cash Advance Revenue?

The following information can be seen as positive news for the merchant cash advance industry.

Nation's Restaurant News is reporting that First Data released in their October 2010 "SpendTrend" report that "Consumer credit- and debit-card spending in restaurants and bars grew by 9.5 percent in October year-over-year, the highest growth in more than 18 months."

Being that First Data has a huge amount of merchants to collect data from, this is a very positive indication that perhaps consumer spending could be on the rise for at least restaurants. This information holds well for the merchant cash advance industry as the amount of money a restaurant and/or bar can qualify for is based on their monthly historical credit / debit card processing totals.

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