Credit cards continue to gain market share

Never has there been more choice for consumers in terms of how to pay. We have the good-old stalwart channels, such as paper checks, as well as newborn ones, like Apple Pay or Pay with Amazon. Yet, the credit card remains a fan favorite – one that continues to gobble up its share of the payments pie.

According to the Nilson Report’s most recent research, credit cards continued to gain share against all other forms of payment in the U.S. in 2015. It’s a remarkable feat, considering the growing number of payment vehicles available to today’s consumers and businesses alike.

Why the continued popularity? One reason may be the rapid-fire release of loyalty-inspiring rewards and perks for today’s credit cardholders. From the triple cash-back points offered by the Chase Sapphire Rewards Card to the 5-percent cash back offering on the newly released Amazon Prime Card, the competitive card rewards landscape has really ratcheted up in recent months.

continue reading »

More News