Visa Study: Majority of Baby Boomers and Echo Boomers See a Cashless Society

Food & Beverage Close-Up, August 29, 2007

Prior to the introduction of the Visa Check Card, less than two percent of Americans used a debit card. In 2006, Visa debit products generated more than $600 billion in consumer spending.

"Consumers' payment preferences have evolved. Recognizing this growing opportunity, our advertising campaign highlights the shortcomings of cash and checks," said Kevin Burke, head of marketing, Visa USA. "As consumers look for payment options that enhance their everyday life, we'll continue to use a variety of channels and techniques to reinforce the benefits of Visa payment options that empower cardholders."

How America Spends was conducted by The Segmentation Company (TSC), a division of Yankelovich, between February 22, - March 12. The study included 1,000 interviews (500 Echo Boomers; 500 Baby Boomers) via telephone using random digit dialing (RDD). Survey results are nationally representative, and the margin of error for each generation group is /- 4.5 percent.

"How America Spends" survey: www.visa.com.

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