A Creditworthy Pair
Credit card processors have spiraled lower with the broad market, but key players are still holding long-term support levels and could bounce strongly in coming weeks. That turnaround should offer quick profits for the fast-fingered crowd, as well as low-risk entry prices for longer-term players willing to holding positions into 2013.
Visa (V) shocked the market last Wednesday when it reported a 3% decline in April payments, led by a 12% decline in debit transactions. Overall in 2012, the company shows no volume growth, with rising credit card transactions cancelling out falling debit card use. The weak numbers imply that banks that are resisting the Durbin amendment's debit fee restrictions in Dodd-Frank....357 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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