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Convincing consumers, issuers and merchants in emerging worldwide economies that rely heavily on cash for transactions to use debit cards is an ongoing challenge for Visa Inc., according to Stacey Pinkerd, Visa head of global debit products. "We focus on converting those cash payments to debit transactions at the point of sale in a number of ways," Pinkerd tells CardLine Global sister publication ATM&Debit News. Visa educates cardholders on the benefits of using a debit card versus cash and also works with issuers to expand debit card issuance, Pinkerd says. Visa also helps issuers expand debit use through promotions and cardholder incentives. "Think back to ATM cards in the U.S. years ago. We're seeing the same trends in countries where payments are still emerging—essentially, debit cards are primarily used at ATMs for cash," Pinkerd says. Visa believes mobile phones will help it deliver more credit, debit and prepaid products to developing nations like Brazil, India and China. "Visa views the mobile device as a potential leapfrog technology, enabling us to deliver electronic payments and money-transfer solutions," Pinkerd says.
