CardWeb.com’s CardPixes database of more than 7,000 images today features the Ritz Carlton Rewards Visa Signature. The card is issued by JPM Chase.
Forty percent of Americans plan to use credit cards for most of their gift purchases, and among those, 87% will use different credit cards depending on preferred rewards offers, up from 76% in 2013.
More than six out of ten Americans or 62% of the U.S. adult population – would forgo presents for the gift of travel this holiday season. About one-third of the U.S. adult population will celebrate the holidays with a trip away from home.
Cybercriminals follow the flow of money, and this Thanksgiving, a very high number of transactions will take place through mobile channels which may set the stage for more risk.
The number of prepaid card transactions in the U.S. is expected to top 12 billion this year, growing at a compound annual growth rate (CAGR) of 15.8% since 2009, according to CardData and the Federal Reserve.
Approximately 17% of American shoppers plan to open a store credit card to purchase a holiday gift this year. Overall shoppers anticipate spending $757.57 this year on holiday shopping, up from $721.96 last year.
While consumers globally are concerned about the financial loss due to payment fraud, their chief concern is the time required to fix the problems created by fraud. This was the top concern for 68% of respondents in the US, 60% percent in Canada and 51% in the UK.
US federal proposals released tighten regulation of the prepaid card market may spur a consolidation of small, high-fee prepaid issuers who may be less transparent or uncompetitive, while boosting low-cost, more transparent providers, according to Fitch Ratings. The new consumer-friendly rules should further bolster growth in prepaid card usage by enabling consumers to more easily make informed decisions on card fees and features. Among the many prepaid issuers in the US, fee structures can vary widely and standardized disclosures may push consumers toward lower cost, greater feature providers. We do not believe the new rules pose a serious threat to major card issuing banks, given underlying prepaid customer demographics and actions taken by banks to offer their own prepaid cards. Prepaid card account consumers are gaining new protections that move the cards nearer to having the same disclosure and reporting protections that credit card users enjoy. The total fees paid for prepaid credit products would not be allowed to exceed 25% of the credit limit. In an effort led by the Consumer Finance Protection Bureau, the protections would be promulgated under US Electronic Fund Transfer Act and The Truth in Lending Act of 2009.
Kenyan payment cards (including debit, credit and charge cards) recorded a compound annual growth rate (CAGR) of 26.32% between 2009 and 2013. The total Cards-in-Force (CIF) rose from 3.8 million in 2009 to 9.7 million at the end of 2013.
When asked to select all the payment methods they will use this holiday season, credit cards emerged as “King”, not cash. Cash took second place and was preferred two-to-one over checks, debit cards, mobile payments or other means of payment.
Nearly eight out of ten consumers would like to hear from retailers as to how those retailers plan to protect personal and credit card information – before the holiday shopping starts.
Nearly one out of five consumers say that last year’s holiday shopping put them in debt. About half took more than six months to pay the debt off and 35% maxed out one or more credit cards.