Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Filene New payment mix about market share
MADISON, Wis. (7/16/10)--The new payment mix, or the different ways consumers choose to pay for goods, is more about market share than about which payment dominates or will dominate, according to the Filene Research Institute. Credit unions need to recognize that a complex mix of payments--from debit cards to credit cards, each attuned to the context and convenience of the purchase--is here to stay, Filene said. Debit cards have been used by more than half of U.S. households for barely a decade, and there is no evidence that a peak in debit use is imminent--although changes to interchange rules could affect those trends, Filene said. Filene also noted:
* Intensive credit card users have higher incomes and higher debt levels than those with neither card and those with only debit cards. Intensive users also have higher household net worth and a higher net worth to income ratio; * Intensive debit card users are generally younger. Debit-only users decrease by age, from 29% of 18- to 29-year-olds to just 7% of those over 70. Conversely, credit-only users increase by age, from 29% of 18- to 29-year-olds to 49% of those over 70; and * The fraction of households using electronic billing has grown much faster than those for earlier technological innovations.
Other Resources

RSS





print
News Now LiveWire
About 1 in 5 #CUs offer credit-building loans,@SchenkMike @CUNA vice president of economics and statistics, told @CreditCardsCom
14 hours ago
RT @CUNA: DDoS attacks shorter, intense, more expensive: @VERISIGN HT @newsnowlivewire http://t.co/QiQKIEjK5v
14 hours ago
RT @CUNA: .@CUNACouncils launches new website. Offering site tours to current members. Check it out! http://t.co/YFJA1tKIxn
14 hours ago
.@Discover to support #ApplePay by fall http://t.co/3wDjkOVU7P HT @Forbes
16 hours ago
.@HUDgov requires investors to delay foreclosure for a year and offers a non-profit only pool sale http://t.co/WYzQrTL3QA
18 hours ago