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Article: Interest Worth Checking: The Debit Card, Whose Acceptance Has Lagged Expectations, Is Suddenly Poised To Surpass Credit Cards-At Least In Usage.(debit cards forecast to pass credit cards in number of transactions)(Brief Article)(Statistical Data Included)
- Article from:
- Credit Union Journal
- Article date:
- April 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 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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How much is debit card usage growing? Debit cards are poised to surpass the almighty credit card in number of transactions (debit still trails in dollar volume), and are rapidly displacing checks and other payment systems while heralding an end to the humble ATM card, according to industry observers.
Why is that important to credit unions? Debit cards, analysts stressed to The Credit Union Journal, can become a viable source of income.
"I really think debit is clearly replacing cash and checks for purchases at places like grocery stores and gas stations, but it's not replacing credit," said Michelle Thornton, president of Liberty Card Services. "It ...