But in card payments, there are significant pressures going the other way – a rise in the interchange fees charged to acquirers can allow issuers to increase their reward points to cardholders, thereby encouraging use of the card. 1 In other words, a rise in price can lead to an increase, rather than a decrease, in the effective demand for the service.
This has helped to keep inflation and its expectations well-behaved, despite the large and persistent depreciation that the peso has registered in the past couple of years.