Card Issuers Prepare for Online Onslaught
NEW YORK(TheStreet) -- Banks and credit card companies have pumped up rewards programs as more consumers shop online and mobile devices for this Cyber Monday and holiday season.
More than 78 percent of consumers say the Internet will play a role in their holiday gift shopping, according to a report by American Express. A large set of those consumers will be paying for gifts with debit cards due to the uncertainty in the economy and unemployment. In fact, 43 percent of shoppers plan to use debit cards , 26 percent plan to use cash and 28 percent plan to use credit cards, according to a report conducted by the National Retail Federation.
Several banks such as JP Morgan Chase and Wells Fargo are promoting their reward programs for consumers this holiday season to take advantage of Cyber Monday buying .
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