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
Why is a #creditunion a good fit for you? http://t.co/i4pGT98mkT via @MONEY
8 hours ago
The numbers are in: Home Depot data breach impact on #creditunions = $57.4 million, 7.2 million credit/debit cards http://t.co/jorYSOYuxj
9 hours ago
.@Nussle : We'll back off when retailers accept their breach responsibility #NewsNow http://t.co/7WxDXicb6j
12 hours ago
RT @asmarterchoice: RT @daily_finance: Top 5 money management tips for 30-somethings http://t.co/mWRfDRSTE7
12 hours ago
Operational efficiencies focus of new @CUNA program #NewsNow http://t.co/qBYHKVYeQN
12 hours ago