Consumer Payment Card News

Biz Card USA

American Express has been the market leader in providing cards to small businesses, but VISA is moving up fast.
A 1999 survey by the PSI Global Commercial Services Research Program (CSRP) indicates that American Express has 22% of the small-business commercial card market, VISA has 20% and MasterCard has 13%. In 1998, VISA had only 11% of the market, and MasterCard only 10%.

The CSRP study is based on telephone interviews with 900 companies with sales between $500,000 and $10 million. A few of the results of the study were:

–Forty-nine percent of all small businesses in this category are using some type of business credit card, up from 37% in 1998.

–In spite of the fact that the number of companies using business cards has steadily increased, total card billing has remained relatively unchanged.

–The average small business spends about $10,000 each year on a business card.

–The average small business revolves about $2,000 monthly.

–Twenty percent of small businesses are making purchases online.

PSI provides a great deal of information on whats happening in business today on their Web site

VISA is aggressively promoting itself as the payment vehicle of choice on the Internet, so dont be surprised if those market share percentages change.

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