SAN FRANCISCO – VISA USA saw its debit transactions that cardholders validate with a personal identification number increase by almost 100% in the second quarter of 2004 over the same quarter in 2003. According to the brand’s second quarter figures, VISA cardholders made $15 billion in purchases in the second quarter of 2004, 95% over PIN debit purchases in the second quarter of 2003. At the same time the brand saw the number of its debit cards eligible for PIN use grow by 24% over the same quarter of last year and the number of merchants accepting the cards increase by 19%. In credit cards, the brand saw its sales and cash advance volume increase 13% over the same quarter last year to come in at $156 billion. The number of credit card accounts grew by 10% or 111 million and the number of cards increase by 11% or 147 million.
The disruption could introduce new risks into the system by compelling banks to loosen lending standards and take on greater risk.
The CDFI awards support to developers, renters and buyers.
Without email authentication standards, hackers don’t need to compromise accounts to send emails that impersonate FIs.
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