Word: nilson
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Over the past decade, remittances of wages from migrant workers to their native countries have risen 44%, to an estimated $138 billion last year, and they are projected to grow an additional 28% over the next three years. According to the Nilson Report, which tracks payment services, Western Union controls nearly 80% of the electronic money-transfer market in the U.S., the world's biggest sender of remittances, which helped it pick up a nicely rounded $1 billion in profit last year from $3.2 billion in revenue. But several years of 30% profit margins have drawn complaints of price gouging...
...industry types call "wallet share"--a bigger chunk of the 80% of U.S. households that already carry plastic. So banks pick fights with other banks. Special, predatory offers abound--2.87 billion mailings in 1999 alone. "Competition doesn't get any better than this," says David Robertson, president of the Nilson Report, a credit-card-industry newsletter...
American Express's turnaround surprised everyone, including H. Spencer Nilson, publisher of the Nilson Report, which tracks spending on credit cards. Nilson is impressed that Amex was able to "come away with any kind of stabilization." He applauds the company for its "significant advances in improving product line and in growth of cardholders and volume. I would not have given them any chance of doing that several years...
...there will undoubtedly be others. The worldwide traffic in stolen and counterfeit cards costs issuers of plastic $1.6 billion a year in phony charges, according to the Nilson Report, a credit-card industry newsletter. Nigeria has produced so many credit-card bandits that the U.S. Secret Service joined with other federal agencies in the 1980s to form a special West African Task Force that helped nab Adekanbi. According to authorities, his gang used counterfeit cards to obtain at least $650,000 in goods and cash advances and had access to lines of credit worth $8 million. Officials suspect that this...
...fastest-growing charge cards are the ones that automatically deduct money from checking accounts. The amounts riding on such debit-card use could zoom nearly 600% over the next eight years, according to H. Spencer Nilson of the Nilson Report, an Oxnard, California, newsletter that follows this industry.While Visa's credit-card business grew 16% last year, the use of its "CheckCard" debit service jumped 47%, as consumers sought to avoid finance and interest charges...