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Credit and debit card spending up sharply among TMG members


The Members Group reported that its card-issuing financial institution members increased their credit and debit card portfolios by an average 15 percent in 2015. Additionally, overall spending on all credit and debit cards processed by TMG was up 32 percent year-over-year, the Clive-based payment processor said in a release. TMG’s CEO, Shazia Manus, attributes her clients’ success to the processor’s own growth and evolution, as well as its focus on collaboration with forward-thinking credit unions and community banks. In 2016, TMG expects to more than double the number of new or current partners it converts from other card programs compared with 2015. In 2015, the company improved revenue by more than 20 percent, positioning it for investment in future technology.

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