Debit Cards Online (12/8/00)


FULL STORY:

Overall debit card use is growing 35% annually but, when it comes to paying for stuff over the Internet, debit card use is growing more than 100%. VISA reported today that its cardholders used their check card to purchase more than $196 million on the Internet between Friday, November 24 through Sunday, December 3, 2000, representing a 123% increase versus e-commerce spending with check cards over the same ten-day period last year. VISA says credit card use over the same period showed a strong increase of 89%. VISA reports that total e-commerce spending on both credit card and check cards for the ten-day period amounted to an estimated $846 million, nearly double last year’s total of $432 million. VISA cards account for more than half of all e-commerce spending volume. For additional information please visit VISA at www.visa.com