Expenses aside, American Express was lifted by an 8 percent increase in cardholder spending during the quarter, which coincided with the holiday season, regularly a period of heightened spending by consumers.
The chief executive, Kenneth I. Chenault, said the decline in cardholder spending had moderated somewhat in June, but that it was too early to say whether that indicated a recovery was under way.
"That statute requires that finance charges and transaction charges have to be disclosed in solicitations and in cardholder billing statements," said Mr. Stewart, who works for the law firm Milberg Weiss in San Diego.
But Rosetta Jones, a spokeswoman for Visa, said: "If there is marketplace demand and our partners are interested in expanding the merchant descriptor, Visa has the capability to enhance what it provides financial institutions with expanded details and character length for use in cardholder statements".
Dow component American Express stands to fare well too after reporting Friday that its quarterly profits more than doubled thanks to a 16% increase in cardholder spending.
Even if a company is 100percentt PCI-compliant and validated, "a breach in cardholder data may still occur," according to the Focus On PCI website.
In the past year of using Ondot, the bank has experienced a reduction in fraud costs by 60percentt, increase in card usage by 54percentt, increase in card spend by 48percentt, and an increase in cardholder base by over 15percentt.
In 2006, cardholders were offered a 1 percent rebate in cash or points on all purchases, and 3 percent on items bought at grocery stores, gas stations and fast-food restaurants.
In return, cardholders can get discounts from doctors and hospitals in the preferred provider network.
