Thursday, October 8, 2009

A Historical Consumer Behavior Change - Debit Purchases Surpass Credit Purchases for Visa and MasterCard

From the Washington Post, October 7, 2009:

For Gun-Shy Consumers, Debit is Replacing Credit

This article gives new statistics on consumer spending in terms of debit purchases. For the first time, debit purchases exceed purchases on credit on Visa and Mastercards. The article also gives an eye opening historical overview on the emergence of the credit card and how consumers have used credit across the generations.