Business Services Industry
The Atlanta Journal-Constitution Retailing Column.
Knight Ridder/Tribune Business News, May, 2004
By Renee DeGross, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News
May 1--DEBIT CARDS INCREASE IN POPULARITY: The cashless society is gaining ground. Visa reports that use of its debit cards worldwide outpaced credit cards for the first time last year.
Visa International reported that its global debit card volume reached $1.48 trillion at the end of 2003, up 17 percent from the year earlier, when it was $1.27 trillion.
By comparison, Visa credit card use last year was $1.45 trillion, according to the company.
Paul Cohen, spokesman at Visa International, said 84 percent of consumers spend with "ready" funds, or money available to them immediately.
Consumers like debit cards because they're convenient...
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