Card issuers have mainly relied on rewards programs as their main strategic driver to increase debit and credit card payments. However, there is scarce evidence on the effectiveness of rewards programs. This working paper offers novel evidence on two key issues in this area using unique data...

This article provides a descriptive overview of the payment card industry in Europe and compares the various forms of organization of payment card systems in European countries. This synthesis helps to understand the paradoxes and the challenges entailed in the creation of the Single Euro...