Credit Card Landscape Update

26 Pages Posted: 11 Jan 2018 Last revised: 29 Apr 2020

See all articles by Susan Herbst-Murphy

Susan Herbst-Murphy

Federal Reserve Banks - Payment Cards Center

Date Written: 2018-01-09


This recap of a January 2017 Payment Cards Center workshop conducted by Frank Martien of First Annapolis Consulting, Inc. (since acquired by and now part of Accenture) adds to the literature on conditions in the markets for consumer and commercial credit cards, and credit and debit cards use by small businesses, at a point some years after the 2007–2009 recession. Some insights are provided as to how the supply and demand sides for these products are operating after this major economic disruption and the enactment of two pieces of legislation affecting payment cards. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) and the Durbin Amendment, which went into effect in 2010 and 2011, respectively, had implications for the market for payment cards used by consumers and small businesses. Commercial cards used by corporations and government were not affected by these regulations, but there have still been major developments in that product line. Readers will get a glimpse of some of the innovations occurring in commercial cards.

Keywords: credit and debit cards, small business credit and payments, commercial cards, virtual cards, CARD Act, Durbin Amendment

JEL Classification: D18, G2, G28

Suggested Citation

Herbst-Murphy, Susan, Credit Card Landscape Update (2018-01-09). FRB of Philadelphia Payment Cards Center Discussion Paper No. 18-1, Available at SSRN:

Susan Herbst-Murphy (Contact Author)

Federal Reserve Banks - Payment Cards Center ( email )

Ten Independence Mall
Philadelphia, PA 19106-1574
United States

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