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A New Business Model for Card Payments |
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Consumers are already seeing popular "cash back" and other reward programs being curtailed. Banks are fearful of losing a large fraction of their $19 billion in interchange fees that fund these programs. And if merchants successfully steer customers to competitive payment types, banks stand to lose a significant slice of the transaction volume that drives their card interest income, usually estimated as 70 percent of total credit card revenue.
http://www.diamondconsultants.com |
