Each year, credit cards capture an increasing larger share of payment methods. According to CreditCards.com, US consumers used their credit cards 14.5 billion times. That accounted for $1.4 trillion in purchases. With an expected volume of $4 trillion, consumers in the United States will use their credit cards for more sales than the GDP of Germany.
If you are not accepting credit cards or are paying to much for credit card processing, please contact us today.
– In the 3 years from 2009 to 2012, credit card transactions increases by over 3 billion.
– Credit cards represent over 26% of all non-cash transactions.
– Americans owe nearly $1 trillion in credit card debt as of mid-2016.
The most important place where credit cards are essential is online. Over 50% of all transactions online use credit cards.
Into the future, using mobile phone apps and online payment processing, will likely grow consistently.