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Article: Debit cards flop first tests. (Retailing Technology and Operations supplement)
- Article from:
- WWD
- Article date:
- April 24, 1989
- Author:
CopyrightCOPYRIGHT 1989 Conde Nast Publications, 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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DEBIT CARDS FLOP FIRST TESTS
NEW YORK (FNS) -- While department stores are paying increasing attention to customer service, they have yet to be sold on the debit card.
Debit cards look like credit cards but, unlike their plastic cousins, debit cards typically allow a retailer to immediately transfer funds from a customer's checking account into the store's account. A card is swiped through a terminal, a customer enters a personal identification number and the cashier hands the customer a receipt -- all in a matter of seconds.
Lauren Lambert, financial services analyst with Drexel Burnham Lambert, suggested that, if accepted by department stores, ...