Airlines For America study shows: Nearly 1 in 4 households has airline affiliated credit card; Loyalty points account for 15 million trips annually, and $23 Billion in economic activity
WASHINGTON, DC — Today, the Electronics Payments Coalition (EPC) released the following statement on Airlines For America’s new study highlighting the consumer and economic harm caused by legislation introduced by Senators Richard Durbin (D-IL) and Roger Marshall (R-KS) to impose government mandates on credit card routing:
“The more we learn about Durbin 2.0 the more the true costs to consumers becomes clear.
“Not only will it jeopardize American’s data security and rewards points, which are used for everything from gas and groceries to family vacations and trips home during the Holidays, it will leave a more than $20 billion hole in our nation’s economy and result in the potential loss of thousands of jobs.” – EPC Executive Chairman Richard Hunt
NOTE: The Airlines For America study released today examined cobranded airline cards, which are held by approximately 30 million Americans and generate $23 billion in economic activity due to loyalty points.