The number of credit cards in use, and the banks and companies that issue them, can influence the amount of activity that POS card processors see, and drive up their necessity as a tool of commerce even more. One story from American Banker highlights this as a sign of growth for this industry and suggests that this trend has the potential to continue.
Citing data originally from the Federal Department of Insurance and C, the article asserted that out of the 42 banks classified as "midsize," roughly 38 percent maintain credit cards, and five banks have started offering cards over the past two years. The article also mentions an FDIC report that presents several items that could signify beneficial trends for banks, noting that losses appear to be down, as are numbers of "problem banks."
Both of these could mean a safer base for consumers to grow their own spending habits from and, in turn, increase POS business. Frank Martien, author of that AB article, mentions that more cards may be on the way as well.
"Looking forward, we anticipate several additional midsize bank entrants to the market while the likelihood of banks' exiting credit cards remains low," he writes.
Keeping up with the rate of card adoption among users can be difficult for businesses who have yet to become full converts to POS payment processing. While it's difficult to predict with accuracy what the trends of the future might be, businesses can put some stock in the knowledge that for now, credit cards don't seem to be going anywhere, and the ability to accept them is as important as ever.