Debit Transactions And Volume Still Growing, Report Finds

Published June 26, 2008, 1:00 a.m. EDT

|

Updated June 26, 2008, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

Debit card transactions and dollar volume each grew roughly 15% between 2006 and 2007, according to a Packaged Facts report released last week. U.S. debit card transaction volume rose 14.4%, to $1.35 trillion in 2007 from $1.18 trillion the previous year. PIN- and signature-debit transactions rose 15.3%, to 28.7 billion from 24.9 billion, according to Rockville, Md.-based Packaged Facts. The market-research firm attributes the debit market's growth to increased use of debit cards for bill payment and for such everyday purchases as groceries, gasoline and drugstore merchandise. A Packaged Facts analyst was not available to comment by CardLine deadline.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Employment data

Economy added 115,000 jobs in April despite mixed signals

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

By Ebrima Santos Sanneh
Reporter

34m ago
Community banking

Georgia bank saw increase in problem SBA loans before it failed

Almost 60 SBA loans originated by Community Bank & Trust — West Georgia were classified as noncurrent, according to Small Business Administration records. Last week, Community became the second U.S. bank to fail in 2026.

By John Reosti
Reporter

3h ago
Tokenization

Fed's Cook: Tokenization won't replace traditional finance

Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.

By Maria Volkova
Reporter

3h ago
Nonbank

Treasury meets with life insurers to discuss private credit

The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.

By Kate Berry
Reporter

May 7
Artificial intelligence

US Bank, CoBank, Rocket share AI use cases at AWS event

The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.

By Penny Crosman
Executive Editor, Technology at Arizent

May 7
Regulation and compliance

Exclusive: Warren says OCC rule limits oversight to 5 banks

Sen. Elizabeth Warren, D-Mass., the ranking member of the Senate Banking Committee, warned in a letter to the Office of the Comptroller of the Currency Thursday that its proposed rollback leaves regional banks dangerously unsupervised.

By Claire Williams
Reporter

May 7

Load More