Credit card usage predictions in 2015
Till end of 2014, it was clear that it is the right time to move towards future and introduce some new predictions regarding credit card usage in 2015. Making predictions regarding credit card is really a complicated task but not an impossible one. Check out some interesting predictions regarding credit card usage below –
Wide level NFC communication
Introducing a big battle into payment options, year 2015 will add bonuses for addition of cards. Apple Pay and Softcard are doing these things for offering bonuses to their customers. Regarding new payment options, this year is awesome. Following type of offers can be seen this time –
- $10 to $30 for addition of credit card to a contact less solution
- 10 percent cash back on every NFC shopping
Merchants can prefer entering the payment game unsuccessfully
Gaining some credit card market shares thorough smart applications, merchants will try to avoid certain percentage of processing fees. But consumers will probably not like to enter in this program for reasons like below –
- Lack of hundred percent fraud liability
- Technology is far advanced than the facilities offered by credit cards
- In general, customers get about 2 percent cash back through credit card usage.
Hike in rate of online payments
Conventionally, merchants are submitted with card information of every customer when they shop something online. This fact is not comfortable for every customer despite of getting zero liability protection. This thing can lead towards the popularity of online payments in comparison to payment through credit cards.
Sign up bonuses will remain same
Sing up bonuses can face hike this year according to our expectations but in real, devaluation with the programs like credit card offers loyalty points has been seen. This is how; the status of sing up bonuses will remain same.
Anniversary bonuses will become popular
This year, one thing to be experienced to happen for higher acquisition cost is hike in anniversary bonuses. Companies issuing cards want to be sure about getting good value back from the cardholders. Moreover, they also prefer charging annual fees. Anniversary bonus is something to balance this situation.
Continuity in bank card breaches
Card issuers are planning to replace old bank cards with new EMV cards this year. New readers to handle the cards are being installed for this purpose. This is how, the fraudulent transactions that are probable after the card theft can be controlled. But in case the readers will not be installed somewhere, the card issuing company will be responsible for the fraudulent activity. For this reason, retailers will try to adopt new technology and the numbers stolen from old DNV cards will be used still for fraud online shopping where PIN is not necessary.
Changes will occur in relationship bonuses
During 2014, credit card companies removed their 10 percent bonus on every point earned and banks prefer introducing certain reward plans for this purpose. According to predictions, relationship bonus will face hike but the main objective will be the amount of money you deposit with the card issuer company.
Hackers will focus on medical records
Health care information collected by doctors during treatment of patients worth the weight in gold for hackers. Lots of criminals focus on medical records where personal and financial records are saved often and also this kind of data is not protected like the data saved in bank computers.
Email will remain the source of cyber-attacks
Email is still the simplest way for criminals to attack on your bank account. That’s why, keeping a sharp eye on phish mails and spam is important. Clicking links within mails and downloading unexpected attachments is not safe.
This is all about credit card usage predictions in 2015.
Do you all agree with my credit card usage predictions of 2015? What are the else points I have missed out to cover in this article? Any suggestions out there for me? Please share your thoughts on our G+ or FB page.