Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the restrict-user-access domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /nas/content/live/epc1/wp-includes/functions.php on line 6121
EPC Statement on Phoenix Marketing International’s Rewards Credit Cards Report - Electronic Payments Coalition
Skip to content
Back

EPC Statement on Phoenix Marketing International’s Rewards Credit Cards Report

| Electronic Payments Coalition

Statement from Jeff Tassey, chairman of the board of the Electronic Payments Coalition, on Phoenix Marketing International’s Rewards Credit Cards Report

“Phoenix Marketing International’s report on rewards credit cards underscores the critical importance that contactless payments played amidst the COVID-19 pandemic and the essential role they will play in the years ahead for consumers of all income levels. As noted in the study, even among households earning less than $20,000 per year, 82 percent own a rewards card, and 90 percent of their spending dollars are charged to these cards. Although retailers continuously criticize rewards programs for higher interchange fees, in reality, the benefits outweigh the costs through increased sales, faster transactions, and efficient and guaranteed payments. This report confirms what we’ve been saying since the Durbin Amendment was signed into law. The vast majority of consumers across all income levels use credit cards and prefer to use cards with rewards programs because of the value they provide.”

Get the Latest Updates Delivered to Your Inbox

By submitting you agree to our Terms & Conditions