Have you been hearing all of those people maintaining that the current economic crisis and pending reforms portend a decrease in credit card use and, perhaps, a major hit to the credit card industry? Don’t believe them. Plastic is still a favored method of payment and it isn’t going away any time soon.
However, it is showing up in some new places and becoming more prominent in others. Consider these new ways, places and inducements to use credit cards.
Arlington, VA Parking Meters: Folks will no longer be forced to contort themselves in an effort to find stray change under the driver’s seat in many parts of Arlington. The Virginia city has installed a number of parking meters that accept credit cards. Lovely Rita may not need to write as many parking tickets when people can pay with plastic.
Washington, DC Taxis: Barwood taxis are now taking plastic, too. They join the ranks of other cab companies in major cities like New York, Boston and Los Angeles. I can only imagine that cabbies feel a little safer making those late night runs when there’s less cash in their hacks. According to the Washington Business Journal, they’re planning on make this a fleet-wide strategy:
The Kensington-based company has installed credit card payment devices and television screens in 200 of its 435 cabs and hopes to outfit the entire fleet by the end of the year.
Whole Foods (Southwest USA): Many grocery stores are saying “no” to checks. That means more credit card use at the checkout counter. Famed health food/organic provider Whole Foods has joined the no-check club at several southwestern United States locations. That leaves folks with two choices: cash or card. Whole Foods claims it will make things run more efficiently and Mac Brown, a food industry consultant interviewd in the Los Angeles Times noted:
Supermarkets used to be a repository of checking, cashing payroll and personal checks, but in an age of direct deposit and debit cards, that’s not something that is relevant to their customers anymore.
Chicago, IL METRA Trains: In a measure the Sun-Times considers long overdue, Chicago’s METRA train system will finally start talking credit cards as means of payment. It’s been a long time coming, too:
The move to credit cards is a major — and long overdue — innovation. For more than 150 years, the only way to buy a commuter rail ticket in the Chicago area was by cash or check.
Oklahoma Aldi’s Grocery Stores: This is a fascinating development. Aldi’s grocery chain has long been a “cash or debit only” operation. The company leaders have been strongly opposed to allowing credit cards, as illustrated by this remark from Vice President Mark Bersted:
People not using credit cards would be paying for people who do want to use them. Because of the very high fees with credit cards, we would be unable to keep our prices as low as they are.
Now, however, Aldi is now experimenting with taking cards at some of its Oklahoma locations.
What does all of this prove? Not much, perhaps. Then again, it could be indicative of increased overall opportunities for convenient card use, some thing that’s sure to actually spur more overall credit card spending.
I wonder if those who have made predictions about the possible end of the credit card take all of that ingenuity and change into account when prognosticating. I’m guessing that the thought never crossed their minds.












