New research shows 59% of gift cards are now offered electronically, up 18 percentage points from 2010. This is good news for millennials, since they’re more than twice as likely to lose traditional plastic gift cards than older adults.
Visa gained more U.S. market share in the third quarter than the other three networks, capturing 58.1% of the Gross Dollar Volume (GDV), compared to 57.9% one-year ago. The growth came at the expense of MasterCard who declined from 26.4% in Q3/13 to 26.1% in Q3/14.
The ShopRunner and Alibaba joint venture is underway this week. The JV enables the shipping of U.S. e-commerce orders directly to China. ShopRunner has also added Eddie Bauer, Bergdorf Goodman, Narciso Rodriguez, Neiman Marcus Last Call, and The Limited to its roster of retail partners.