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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
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ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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.


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