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Article: Debit's on top: products and services growth trends. (debit cards)
- Article from:
- Credit Union Executive
- Article date:
- November 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Credit Union National Association, Inc. (CUNA). 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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Born before their time in the 1970s, debit cards have new life in the plastic-loving 1990s. Industry watchdogs marked the day two years ago when two national point-of-sale (POS) networks were introduced: MasterCard's Maestro and Visa's Interlink. Visa, which saw $4.1 billion in debit volume in 1990, projects $57.4 billion in sales by the year 2000. Both Visa and MasterCard expect debit accounts to match credit card accounts by the end of the decade.
Some credit unions are ahead of the game. They offered debit cards a decade before banks caught on. And Credit Union Executive's Credit Union Spending Plans Survey, 1994, shows debit cards top the list of services ...