Roswell, GA -- (SBWIRE) -- 06/27/2016 -- Every day that passes, reward cards become more and more common in the U.S. In fact, recent research has stated that 93% of all the credit card spending is done through some sort of a reward credit card. In general, people seem to enjoy this kind of payment method and will likely stick with it for a long time. And, although they can be considered helpful for card issuers and card holders, it is not always the case with merchants. Here´s why.
It´s worth to mention that people with reward credit cards spend more money on average than those who have regular credit cards. To be more specific, those who regularly use reward credit cards spend $6,300 yearly while those that use regular credit cards spend on average of only $4029. (These numbers are approximate). In general, the card issuers are indeed getting a profit from these reward credit cards. However, merchants are jeopardized by this innovative payment method, for they have to pay higher interchange fees if they want to accept these cards in their business.
As expected, merchants cannot say no to these cards, for that would drastically reduce the preference of their customers. So, merchants have no other choice but to pay these higher fees to be able to accept this method. Not only that, but if they deny the access to these cards, they will be even more surpassed by companies like Amazon or eBay, who provide customers with the online transactions they so much love and cherish.
All in all, reward cards bring a lot of controversy with them. However, they are immensely appreciated by customers and will remain in the market for a long time. All there´s left to do for merchants is find a way to make these customers fall in love again with their business. However, that´s not going to be easy.
About Netcom PaySystem
To learn more about Netcom PaySystem payment processing solutions, simply fill out this quick online application to get started and a representative will be in contact within 24-48 hours or for faster service please feel free to contact us at 800-875-6680.
Netcom PaySystem prides itself on being eager to practice good, old-fashioned customer care as it is to pioneer new products. Netcom PaySystem is proud to provide the most up to date and innovative products such as m-Commerce Mobile Solutions, and Virtual Terminal solutions. In addition, the company offers the merchant access to POS Systems, ACH Check Services, Check Guarantee, Recurring Billing, Check21, BOC, Credit and Debit Card Processing, Gift and Loyalty Cards, and Merchant Working Capital. Netcom PaySystem's attrition rate is one of the lowest, if not the lowest in the industry. Netcom PaySystem can proudly boast that that only two to four percent of its clients ever leave the company, and out of that; close to 50 percent return within the first year.
For more information, please visit http://netcompaysystem.com.
Media Contact:
Company Name: Netcom PaySystem
Contact Person: Media Relations
Email: sales@netcompaysystem.net
Phone: 800-875-6680
Country: United States
Website: http://netcompaysystem.com/