TITLE

Credit, Debit or Gift Card?

AUTHOR(S)
Master, Melissa
PUB. DATE
August 2005
SOURCE
Convenience Store News;8/8/2005, Vol. 41 Issue 10, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on the STAR Consumer Payments Usage Study, conducted by an independent research firm on behalf of First Data Corp. According to the study, consumers use two to four payment types monthly. More than five out of every six ATM/debit cardholders had used their ATM/debit card at an ATM or at the POS at least once in the 30 days prior to the survey, and 29 percent of non-debit users report credit cards as their preferred means of payment. As an added incentive for retailers to accept debit cards, consumers spend more when they use their debit cards: Debit purchases are 32 percent higher compared to cash and 24 percent higher compared to checks. Forty percent of consumers surveyed indicated they had used a store-specific gift card to make a purchase in the past 12 months, and nearly 20 percent of consumers have used a prepaid cash card.
ACCESSION #
17950370

 

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