News & Views - Savantor

Credit Card usage

Friday, 29 April 2011

The payments industry seems to suffer more than its fair share of surveys but a recent one by Experian focussed on an area of particular interest as it surveyed its Personal Solutions consumers in the UK & Ireland to ascertain how they are using credit cards.  Figures state that 40% of people who applied for credit cards in 2010 were declined.  More interesting were the results on how customers actually used their cards:

·         63.1% use their credit cards for everyday expenses (e.g. food, clothes shopping).

·         Of those who have a credit card/s 16% have more than four credit cards.

·         20.1% rely totally on their credit card for all forms of living expenses.

·         66.7% use only one credit card at a time.

·         27.6% spread their spending over several cards.

·         24.5% have an outstanding balance of up to £5,000 currently on their credit card/s.

·         8.6% have over £10,000 currently outstanding.

·         50.9% pay off all of their credit card debt every month.

·         18.6% pay less than 25% off their credit card debt every month.

·         11% pay the minimum payment.

Apparently 28.3% do not have a credit card as they have previously got themselves into serious debt, so have closed all credit card accounts.  A slightly worrying sign even if we are slowly coming out of recession.

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Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

EMV Migration Planning

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Eddie Sweeney, Chief Technology Officer - AIB Bank - Ireland

Interchange Review

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Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Credit Card Launch

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Toine Schepers, Operations Director - Primeline - The Netherlands

Payment Specialists

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Idsert Walta, Head of Banking Categories - Nordea - Scandinavia

Card Processing Migration

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Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

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"Savantor did a good job in helping us understand the dynamics of a key growth area for Trionis. Savantor's ability to listen and their degree of commitment have always impressed me. They have been of great help in providing us important market insights and I would not hesitate to work with them again in future."

Ernst Verbeek, Managing Director - Trionis - Belgium

Complex Cards Business Transformation

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Ricardo Gomez, Director - Operations & Technology - WiZink Bank - Spain

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