NYCE Payments Network LLCSecaucus, NJ, United States

Plastic King in Flight - In September 2008 Southwest Airlines joined a slew of other domestic carriers that no longer accept cash for onboard purchases. Passengers flying Southwest, AirTran, Alaska Air, Frontier, JetBlue, Midwest, Spirit, and Virgin America, must now use plastic to buy beer, wine, cocktails, meals, and movies. American, Delta, United, and other major carriers still take cash, though industry experts predict they will stop within the year. This shift to a "cashless cabin" will, by default, increase in-flight credit card use and subsequent card processing activities.

Interchange Fees Debated on Capitol Hill - Retailers are encouraging Congress to pass The Credit Card Fair Fee Act of 2008, which requires banks that issue credit cards to negotiate with merchants regarding interchange fees (the fees merchants pay lenders to cover card processing transaction costs). Currently, interchange fees are dictated by lenders; the bill intends to allow merchants to jointly determine these costs. Consumers are largely unaware of interchange fees, as charges are folded into the total cost of items and aren't disclosed on receipts. The average American family will pay $427 in interchange fees in 2008, according to National Retail Federation.

Cell Phones may Render Wallets Obsolete - Purchases made with mobile devices will total more than $600 billion globally by 2013, according to Juniper Research. While today's mobile market is dominated by digital goods purchases like music, games, and ring tones, Juniper says this is just the beginning. Three high-potential markets offer major new opportunities, including near-field communications ("contactless" technology that enables data exchange between devices over about a 4-inch distance, sometimes called "wave-and-pay); mobile money transfer; and physical goods purchases. This cell-phone-as-wallet future has credit card companies like Visa and processors, including First Data, developing new products.