Monday, June 9, 2008

Study: Use of Debit, ATM Cards on the Rise

BAGHDAD, IRAQ - MARCH 11: An Iraqi employee of Warka Bank for Investment and Finance shows how to use a credit/debit card that is issued by the bank  on March 11, 2008 in Baghdad, Iraq. Warka Bank for Investment and Finance and other Iraqi banks have started issuing credit/debit cards in Baghdad, installing teller machines in selected places in the capital in a move to encourage Iraqis to accept the cards and surmount their repugnance to anything but cash.

GREENWOOD VILLAGE, Colo. — First Data Corp. has released its 2007/2008 Consumer Payment Usage and Segmentation Study, a research study based on data collected in a national survey.The study's findings indicate that:
  • ATM/debit card penetration rebounded in 2007 (up to 82 percent), with gains across all age and income groups.
  • Among consumers ages 18-42, penetration is almost universal, at 90 percent ownership of ATM/debit cards.
  • Resistance to using a debit card at the point of sale is eroding.
  • PIN debit continues to hold an edge over signature debit.

This edition marks the 21st year First Data's STAR Network has sponsored the study, aimed at gaining a deeper understanding of consumer payments, usage habits and attitudes.

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