Carbó-Valverde, Santiago; Liñares-Zegarra, José M. - European Central Bank - 2009
Card issuers have mainly relied on rewards programs as their main strategic driver to increase electronic payments …. However, there is scarce evidence on the effectiveness of rewards programs. This paper offers novel evidence on two key issues …: i) it measures the impact of rewards programs on the use of payment cards; and ii) it quantifies their economic impact …