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
.@VACUL breaks ground for new HQ in Richmond #NewsNow http://t.co/cOC0rqqJ9o
38 minutes ago
White House honors N.M. #creditunion employee for Hispanic fin. lit. #NewsNow http://t.co/22uAEd6ZJ9
42 minutes ago
.@Community1stCU makes art (from hay) while the sun shines (pic 7) via @KCCINews http://t.co/7E2lg09Djw
1 hours ago
#NewsNow: @WOCCU believes Basel 'weak bank' guidelines could work against co-ops. http://t.co/wrEAORJqhN
1 hours ago
#NewsNow: @usgao wary of @CFPB data collection controls. http://t.co/nupXOVVL8V
1 hours ago