SAN FRANCISCO - VISA USA processed more debit transactions than credit transactions in the first six months of 2002, a first for the San Francisco based credit card association which has recently become a firm. The payment card association processed 3.04 billion purchases made on Visa check cards, its signature-based debit product, and 2.96 billion made on Visa credit cards in the six months. According to The Nilson Report, the number of Visa debit card purchases rose 23% from the first half of 2001. Credit card purchases rose 0.8%. "Visa has been tracking these numbers for quite some time," said Stacey Pinkerd, the company's senior vice president for debit and prepaid products. "We've seen debit card usage outpacing credit for quite some time. We knew it would catch up.
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the top of any article.
From the September-25, 2002 issue of Credit Union Times Magazine • Subscribe!
VISA debit processing tops credit for the first time
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!
Comments
Resource Center
View All »
Measure and Monitor the Risks and Opportunities in Loan Portfolios
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
