Consumer Payment Card News

King Cash

With a lack of confidence emerging about gift cards issued by shaky retailers, a new survey shows that most Americans would prefer to receive $100 in cash this holiday season. About two-thirds of consumers indicated that cold hard cash may be the hot Xmas gift this year. According to two surveys by Western Union 53% of those who would prefer cash would use that money on basic living expenses such as gas, groceries and bills. Seventy-nine percent of Americans believe cash is a good gift because people can use it to get what they really want. Additional findings: 62% of those with household incomes of less than $50,000 are likely to give cash; 53% of those with more than $50,000 in household income are likely to give cash; and 65% of Americans said they often end up spending more on gifts than they had planned to spend. Western Union notes that there has been a dramatic drop in the number of respondents who plan to give gift cards for services such as a manicure or a pre-paid phone card. Two months ago that figure was 40%, but now the number is 30%. For more information visit: “http://www.westernunion.com”:http://www.westernunion.com

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