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Article: Debit cards seem ready to claim place in the sun. (News Analysis)
- Article from:
- American Banker
- Article date:
- June 24, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After decades of fits and starts, the debit card is finally beginning to loom large on banks' strategic radar screens.
More merchants are accepting the cards, and consumers are gradually becoming more comfortable about drawing funds directly from their checking accounts to pay for purchases.
"We believe as a corporation that the time for debit cards has come," said Barbara Velte, vice president of electronic banking at Chase Manhattan Corp. Speaking of the New York market, she said, "There's not only more merchant acceptance, there's also a movement among consumers toward fiscal responsibility." And these consumers, she said, find the detailed monthly ...