Payment Card News

Fast Food & Cards

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Based on figures for the holiday season thus far, Americans may charge more than $37.0 billion worth of fast food to their credit and debit cards this year, compared to $22.5 billion one-year ago. The figures reflect growing consumer and merchant acceptance of carding small ticket purchases. VISA’s latest “SpendTrak” report shows consumers are charging about $430 million per week at quick service restaurants on its cards or about 62% higher than the same week last year. VISA says quick service restaurants (QSR) are experiencing tremendous growth in terms of revenue and efficiency as a result of accepting plastic. The average QSR credit card ticket, based on the most recent VISA data for the week ending December 4th, is $10.75. Americans spend about $150 billion per year in quick service restaurants.

QSR ON PLASTIC HISTORICAL 2000: $ 1.7 billion 2001: $ 3.7 billion 2002: $ 6.1 billion 2003: $12.9 billion 2004: $22.5 billion 2005: $37.0 billion Source: CardData (“www.carddata.com”:www.carddata.com)

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