News

NYCE touts Canadian-U.S. cross-border debit card volumes

September 11, 2005

SECAUCUS, N.J. - Ten months after the NYCE network enabled Canadian shoppers to use their PIN-debit cards at U.S. retailers, transaction totals indicate an increasing adoption by Canadian consumers and an incremental gain for U.S. retailers, network officials announced in a press release.

The average Canadian cross-border transaction amount still outpaces the average American PIN-debit transaction processed on the NYCE network. Six-month totals for cross-border PIN-debit indicate the average Canadian transaction in the United States exceeds $65, with the American totaling only about $47.

From the launch of cross-border debit in October 2004 through the end of April 2005, Canadian shoppers initiated more than 400,000 PIN-debit transactions in the U.S. for a total dollar value approaching $26.5 million.

Retailers in Florida, New York and California received the biggest boost during the spring from cross-border PIN-debit by NYCE. Florida alone originated more than 25 percent of all cross-border transactions. Still, Canadians have initiated transactions in all 50 states, with Washington, Arizona, Michigan, Texas, Maine, Nevada and South Carolina rounding out the top ten.