Consumer Payment Card News

Fast Cash

U.S. consumers racked-up a revised $72 billion worth of fast food on their personal credit and debit cards this year, compared to $63 billion one-year ago. The 11% year-on-year increase in quick service restaurant volume is driven by expanded merchant acceptance, promotion of card usage and new contactless payment options, according to CardData (www.carddata.com). The current economic turmoil has given new energy to “dollar” menus which has been driving payment card growth. Americans spend about $190 billion per year at 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: $33.2 billion
             2006: $51.3 billion
             2007: $62.8 billion
             2008: $70.4 billion
        Source: CardData (www.carddata.com)

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