The National Retail Federation projects U.S. holiday spending to grow by 2.5 to 3.5 percent over 2023 results, with total spending expected between $979.5 billion and $989 billion for November and December. NRF President Matthew Shay credited a strong job market and wage growth for supporting consumer spending, which has become a key tradition for many families. Consistent with the NRF’s annual growth expectations of 2.2 to 3.5 percent, online and non-store holiday sales are predicted to increase by 8 to 9 percent, totaling $295.1 to $297.9 billion.
With Thanksgiving falling on November 28, the holiday shopping season will be relatively short, prompting many retailers to launch promotional sales early and reduce prices, which NRF Chief Economist Jack Kleinhenz noted are around 1 percent lower than last year. Consumers are making online purchases earlier to avoid potential shipping delays, while retailers are coordinating with shipping and supply partners to ensure inventory availability. Shay highlighted the evolving consumer preference for flexibility across shopping channels.
Visa partnered exclusively with Analytic Partners to offer U.S. merchants AI-driven data analytics aimed at optimizing marketing spend and enhancing commercial growth. This collaboration combines Visa’s extensive merchant relationships and consumer spending insights with Analytic Partners' expertise in commercial decision-making. The goal is to provide merchants with real-time, actionable analytics, helping them make better-informed advertising investments in a fragmented data landscape.
Visa Global Head of Merchant Sales Jeni Mundy emphasized the value of this partnership for merchants seeking growth opportunities, noting that effective data use is crucial for leveraging consumer insights. Nancy Smith, CEO of Analytic Partners, highlighted the importance of understanding consumer behavior to build loyalty and attract new customers. The partnership includes exclusivity on merchant and brand spend optimization offerings and aims to introduce new analytics solutions to drive commercial success.
Visa and Analytic Partners expect this initiative to revolutionize commercial intelligence by delivering more accessible, growth-focused insights for U.S. merchants.
Nacha reported strong growth in same-day ACH payments, with 355.2 million transactions in the third quarter of 2024—a 67.5 percent increase over the same period in 2023—totaling $844 billion, up 38.8 percent. Nacha President Jane Larimer noted the ongoing robust adoption and proposed expansion of same-day ACH hours to better serve the Pacific time zone, adding 3.25 hours daily for same-day submissions.
Overall, ACH volume rose 7.4 percent to 8.4 billion payments, valued at $21.5 trillion. Credit payments reached 3.7 billion, while debits, commonly used for bill payments, totaled 4.7 billion. Business-to-business and healthcare payments rose 12.6 percent and 7.8 percent, respectively, with consumer internet payments up 9 percent and person-to-person payments up 20 percent. Direct deposits, an ACH staple for payroll, also grew 3.9 percent to 2.1 billion.
Larimer highlighted Nacha’s ongoing enhancements to ACH, including higher limits and accelerated availability, aimed at meeting the payments community’s needs and further boosting same-day ACH usage.
A new ACI Worldwide report forecasts that real-time payments will add $285.8 billion to global GDP by 2028 and lift millions out of poverty by increasing financial inclusion. Real-time payments could bring over 167 million unbanked people into the financial system, especially benefiting developing countries in Asia and Africa. India’s Unified Payments Interface is highlighted as an example, with the U.S. also seeing gains; real-time payments are projected to help 4.9 million Americans gain bank access, reducing the unbanked population significantly, ACI noted.
The report, covering 40 countries, shows a clear link between instant payments, financial inclusion, and economic growth, with gains expected for banks and underserved groups like young people, women and low-income individuals. Top countries for financial inclusion uplift include Pakistan, the Philippines, Nigeria and China.
Real-time payments are also set to curb the “shadow economy,” cut transaction costs and generate substantial revenue opportunities for financial services.
For Cybersecurity Awareness Month, Tim Barnett, CIO at Bluefin, discussed key payment security issues with The Green Sheet, including common vulnerabilities, the evolution of data breaches and protection strategies. Barnett highlighted that payment systems are vulnerable due to inadequate encryption, lack of tokenization and unpatched software.
To combat this, he suggested businesses should implement PCI-validated point-to-point encryption and tokenization, particularly as data breaches become more frequent with the rise of digital wallets and alternative payment methods.
Data breaches can severely impact companies, partners and the broader payments ecosystem, eroding consumer trust and damaging reputations. Barnett emphasized the critical role of encryption and tokenization in protecting payment data, creating multiple security layers that prevent hackers from accessing sensitive information. For smaller businesses with limited cybersecurity budgets, Barnett recommends cost-effective measures like employee training, point-to-point encryption, and software updates to safeguard customer data.
With growing interest in digital wallets and cryptocurrencies, security strategies are adapting by incorporating end-to-end encryption, tokenization and biometric authentication, addressing potential vulnerabilities in alternative payment methods while ensuring consumer safety and confidence.
Walmart Business now offers Clover, Fiserv’s all-in-one POS solution, with a $500 rebate on select Clover devices and a $100 Walmart eGift card for new merchant service accounts through Fiserv. Walmart Business, launched in 2023, provides small businesses and nonprofits with a curated selection of over 100,000 items, now including Clover’s business management tools for payment processing, inventory and employee management. Fiserv reported strong Clover adoption with 700,000 merchants globally and plans for expansion in Brazil, Mexico, and Australia.
Walmart Business aims to simplify purchasing and lower costs for businesses by leveraging Walmart’s extensive U.S. footprint and ecommerce capabilities. The $98/year Business-plus membership provides additional benefits like free shipping and subscription discounts. Ashley Hubka, senior vice president at Walmart Business, emphasized Walmart’s commitment to listening to organizational customers and meeting their operational needs with tools like Clover.
Industry expert James Shepherd believes the collaboration may have minimal impact on ISOs and merchant level salespeople, as more businesses shift towards specialized software solutions tailored to specific industries, rather than broad POS offerings like Clover. 
This article contains excerpts from news stories recently posted under Breaking Industry News on our homepage. For links to these and other full news stories, please visit www.greensheet.com/breakingnews.php.
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