No Doubt About Debit, This Plastic is Popular-and Growing

US Banker, April, 2004 by Matthew de Paula

If Wal-Mart intended to quash the debit card revolution, the court's decision in its favor isn't helping to spur an exodus of merchants from the scene. Bank One's Dave Cohen, product director of retail marketing, doesn't foresee that happening. Debit cards are the only point-of-sale payment method on the rise, up 10 percent since 1999, according to the ABA. As the largest Visa card issuer, Bank One stands to benefit from the momentum.USB: What kind of increase have you seen in debit card issuance? What's driving it?

Cohen: Pretty substantial. We have 5.2 million cards outstanding. We're up 18 percent over the last couple of years, and about 33 percent over four years ago.

First, we have more customers. Second, customer demographics are changing, and there's more...

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