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You are here: Home / News & Views / Debit Card Usage Soars! / Debit Card use Surpasses Credit Cards

Debit Card use Surpasses Credit Cards

By Merchant Services
Sep 2
Jon Perry

Jon Perry

For the first time in Visa’s history debit card use surpassed Credit Cards in the fourth quarter 2008.  On page 14 of Visa’s Form 8-K, filed on April 29, 2009, U.S. debit card volume was $206 billion, versus a credit card volume of $203 billion.  The growth of debit cards was up 5.5%, while credit cards were down 6.9%.

Also interesting is the usage by the rest of the world in the fourth quarter, which had a debit volume of $38 billion and a credit volume of $228 billion.  In this situation, debit card volume was up 5.9% and credit card volume down 1.6%.

For the entire year of 2008, debit card volume in the U.S. was $818 billion, up 12.6%.  Credit card volume was $824 billion, up 2.1%.  Almost an even split of debit and credit card usage.

Check with your merchant services company to ensure you are getting competitive rates.

For more information, please contact us toll free at 877.577.3779 or in the DFW Metroplex 817.857.3557.


Tags: Credit Card Machine, Credit Card Merchant, Credit Card Merchant Services, Credit Card Services, debit card, how does visa make money, merchant account, Merchant Accounts, Merchant Services, PCI Compliance, PCI Compliance Fees, visa, visa mastercard interchange Categories: Debit Card Usage Soars!, News & Views
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