Credit Card Landscape Update

Susan Herbst-Murphy

No 18-1, Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia

Abstract: This recap of a January 2017 Payment Cards Center workshop conducted by Frank Martien of First Annapolis Consulting, Inc. (since acquired by and now part of Accenture) adds to the literature on conditions in the markets for consumer and commercial credit cards, and credit and debit cards use by small businesses, at a point some years after the 2007?2009 recession. Some insights are provided as to how the supply and demand sides for these products are operating after this major economic disruption and the enactment of two pieces of legislation affecting payment cards. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) and the Durbin Amendment, which went into effect in 2010 and 2011, respectively, had implications for the market for payment cards used by consumers and small businesses. Commercial cards used by corporations and government were not affected by these regulations, but there have still been major developments in that product line. Readers will get a glimpse of some of the innovations occurring in commercial cards.

Keywords: credit and debit cards; small business credit and payments; commercial cards; virtual cards; CARD Act; Durbin Amendment (search for similar items in EconPapers)
JEL-codes: D18 G2 G28 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2018-01-09
New Economics Papers: this item is included in nep-ban and nep-pay
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