First Data: Consumers Becoming Credit Conscious?
The June edition of First Data’s SpendTrend analytics tool shows some cause for concern within the U.S. economy.
The June edition of First Data’s SpendTrend analytics tool shows some cause for concern within the U.S. economy.
Economic trends backed by a huge amount of data “” First Data analyzes nearly 50 percent of all card-based transactions in the U.S. “” suggest that consumers are cautious about the current environment, and are changing the way they spend as a result.
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In 2011, credit card spending was on the rise, says Silvio Tavares, a senior vice president at First Data. But lately, that trend is reversing, with debit transactions replacing much of credit’s growth from last year.
Learn more by listening in to our full conversation with Silvio “” then download First Data’s SpendTrend Macro Report for June to gain access to the same information used to build the most up-to-date report on consumer spending.
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Start a Conversation →The June edition of First Data’s SpendTrend analytics tool shows some cause for concern within the U.S. economy.
Economic trends backed by a huge amount of data — First Data analyzes nearly 50 percent of all card-based transactions in the U.S. — suggest that consumers are cautious about the current environment, and are changing the way they spend as a result.
In 2011, credit card spending was on the rise, says Silvio Tavares, a senior vice president at First Data. But lately, that trend is reversing, with debit transactions replacing much of credit’s growth from last year.
Learn more by listening in to our full conversation with Silvio — then download First Data’s SpendTrend Macro Report for June to gain access to the same information used to build the most up-to-date report on consumer spending.
Download the SpendTrend Macro Report for June here.
We’d love to be your preferred source for news.
Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!
Silvio Tavares
Senior Vice President, General Manager Global Information & Analytics Solutions
Silvio Tavares is senior vice president and general manager of First Data’s newest line of business, Global Information & Analytics Solutions, which delivers analytics, insights, consulting and data based on First Data’s proprietary payment network. First Data is one of the world’s largest electronic payments companies with over $10 billion in revenues, operations in 36 countries and over 24,000 employees. Global Information & Analytics Solutions includes First Data Analytics, which provides real-time trending and root cause analysis of consumer payments and First Data Advisors, which delivers customized payments consulting to clients including merchants, commercial banks, investment banks and digital media companies. The third leg of the division led by Tavares is First Data Reporting Solutions, which includes sophisticated and comprehensive reporting of all payment streams for merchants and issuers via web tools, mobile applications and configurable data files.
Before leading this line of business, Tavares was head of First Data’s Investor Relations, Industry Analyst Relations and Competitive Intelligence functions where he was responsible for leading the company’s daily outreach to the investment community, industry analysts and market intelligence activities. Prior to joining the company, Tavares was the general manager the CFO Executive Board and the Investor Relations Roundtable, strategy consulting business units of the Corporate Executive Board (NASDAQ: EXBD).
Prior to his general management roles, Tavares served as director of corporate finance and head of technology investment banking with ABN-AMRO’s Investment Bank in London. Before becoming an investment banker, Tavares practiced corporate finance law with Shearman & Sterling in New York and London, where he primarily represented financial and technology institutions involved in IPOs and other securities offerings.
Tavares is a frequent speaker on consumer spending trends and has been featured regularly in the Wall Street Journal, USA Today, Bloomberg News and CNN Money. Most recently he has appeared on national broadcast TV including the CNBC and Fox News networks. He has authored several patents in the areas of web based payments and payment analytics. Tavares is a member of the New York Bar and he previously served as a part- time adjunct professor at The George Washington University Graduate School of Business, where he taught the law of intellectual property.
Tavares has a bachelor’s degree in electrical and computer engineering from Tufts University, a master’s degree of business administration from Boston College and a joint juris doctor degree from Oxford University and Boston University. He speaks fluent English, French and Portuguese as well as basic Spanish and Korean.
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