Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
TMG: Card Use Inches Up During Holiday Shopping
DES MOINES, Iowa (12/30/13)--Credit and debit holders who carry cards issued by The Members Group spent only slightly more on average during Black Friday and Cyber Monday in 2013 than they did in 2012, according to figures released by the card processing and payment solutions provider.
 
The average transaction amount for debit cardholders was $134 during Thanksgiving week, compared with $131.66 in 2012, the processor said. In 2011, the average debit transaction amount was $121.87, creating a 12% increase over two years.
 
"The numbers seem to indicate a trend in consumer comfort using their debit cards for larger transactions," said Georgann Smith, TMG vice president of marketing. "Financial institution issuers bracing for the impact of debit interchange regulation may be able to leverage this preference for larger production from their debit portfolios."
 
The average credit card transaction increased to $222.98 in 2013 from $222.16 a year earlier, TMG said. In 2011, the average was $208.14.


RSS print
News Now LiveWire
.@CUNA's Pierce: "Without meaningful relief, consolidation in CU sector will continue."
4 minutes ago
..."higher for smaller-sized credit unions than these behemoth institutions." (3of3)
6 minutes ago
"...of with the same rules as J.P. Morgan, Bank of America and Citibank, because the cost of compliance is proportionately..." (2of3)
6 minutes ago
Pierce: "Congress and regulators ask a lot of small, not-for-profit, financial institutions when they tell them to comply..."(1of3)
7 minutes ago
Incoming @CUNA President/CEO Jim @Nussle greets @SenJohnsonSD before the @SenateBanking hearing http://t.co/HX0j2WY5Ji
15 minutes ago