Consumer Payment Card News

Micropayments

Nearly 20 million Americans have purchased something online for less than $2 in the past year, up nearly 29% from 2004 and 350% since 2003. Also, an estimated 45 million Americans are willing to use credit or debit cards for purchases of $5 or less, up 23% from September 2004. The findings from Peppercoin and Ipsos Insight found that only seven percent of respondents who would not use credit or debit cards for small payments indicated they find it easier or prefer to use cash rather than a credit card. When asked about purchases for which they would be willing to use their cards, more than half of the respondents indicated they would use credit and debit cards at convenience stores if they could. The other top markets included fast-food (or quick-serve) restaurants/corporate cafeterias (47%), transportation (38%), coffee/beverages (35%) and parking (32%).

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