PRINCETON, N.J. - UJB Financial Corp. reported a one-third increase in the use of its debit cards during the holiday shopping season.
The November 1994 transaction volume of $17.2 million was more than double the previous November's $7.4 million.
The December volume of $14.3 million as of Dec. 19 equaled that of the entire month in 1993.
The peak day in that period was Dec. 17, at $1.855 million, which exceeded the $1.627 million on the day after Thanksgiving. Based on an average ticket of $49, the transaction volumes on those two days were 38,000 and 32,000, respectively.
These figures are only for Visa Check cards, and do not include on-line transactions at MAC or NYCE point-of-sale locations. They are indicative of the rapid rise in debit card activity being reported by banks nationwide, and by the MasterCard and Visa associations.