News

Report finds debit card usage has quadrupled since '95

January 26, 2004

NEW YORK - U.S. consumers use debit cards for financial transactions four times more frequently than they did nine years ago, according to "The U.S. Market for Debit Cards," a Packaged Facts report.

The report found debit card use quadrupled from 1995 to 2000. Before 1995, fewer than 2 percent of consumers used any form of debit card.

Use of credit cards grew 9.5 percent in the same period, and electronic payments overall grew 14.6 percent.