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Debit cards gain ground with U S consumers
The debit card, a new form of money used with Visa and MasterCard, moves funds directly from bank accounts to merchants. Growth rises as shoppers seek to avoid interest and carry less cash, with 1.4 million Visa cardholders from 193 banks and MasterCard expanding rapidly. Wilmington Savings Fund Society reports strong uptake and a 75 percent annual rise in transactions since 1975, though float loss and instant deductions pose caveats.
MENTIONED IN THIS ARTICLE
Visa
MasterCard
Cynthia Chaddick
Chaddick
Wilmington
Del
Savings Fund Society
William Robinson
Delaware
Robinson