From the June 2009 issue of Treasury & Risk magazine

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Not only is the use of debit cards overtaking credit cards, but other forces are reshaping the U.S. payment landscape, David Stewart, senior expert at McKinsey & Co., told the Association for Financial Professionals' Retail Treasury Forum recently in New York City.

To cope with these converging trends, companies will need to anticipate and adapt to ongoing liquidity constraints, as well as to the impact on customers of reduced access to credit. Companies will need to seek efficiencies, streamline and integrate systems and renegotiate payment terms, he said.

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