After a sluggish start, debit cards have begun to turn the corner of consumer and merchant acceptance, according to an article in the Federal Reserve Bank of Kansas City's Economic Review.

Gordon H. Sellon Jr., assistant vice president and economist at the Federal Reserve Bank, and John P. Caskey, a Swarthmore College economics professor and visiting scholar at the bank, concluded that only "competitive pricing" stands in the way of near-total acceptance of the new payment alternative.

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