Debit card growth will impact prepaid market

Debit card growth will impact prepaid market
Tags: Card Readers, Retail Self-Service
November 6, 2005

ePaynews.com: Debit cards are now used for 33 percent of retail in-store purchases in the United States, up from 21 percent in 1999, according to a survey by the American Bankers' Association and Dove Consulting. E-payments now account for a larger share of the 58 payment choices consumers make each month, with cash and checks falling to 45 percent of the mix.

In 2005, 32 percent of consumers used gift or prepaid cards for at least one in-store purchase per month, up from 12 percent in 2003, and gift cards now facilitate 4 percent of all in-store purchases, up from 2 percent in 2003.