Consumer Payment Card News

Fast Food & Cards

Americans will charge more than $30 billion worth of fast food to their credit and debit cards over the next twelve months, compared to $14.9 billion one-year ago. For the the full year of 2004, credit card sales for fast food will hit about $22.5 billion. The figures reflect growing consumer and merchant acceptance of carding small ticket purchases. According to VISA’s “SpendTrak,” quick service restaurant volume was $312 million last week, with total volume since November 1st of more than $1.9 billion. The level of VISA QSR activity is up 60% over 2003. VISA says its average QSR ticket is $11.70. Americans spend about $140 billion per year in quick service restaurants.

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