Study shows that from December 2007 until March 2008, Canadian shoppers have spent an average of over USD 68 per Cross-Border Debit transactions, up 45 percent than the average US debit purchase within the same period. The Cross-Border Debit service is offered as a result of the partnership between US debit card payments network
NYCE Payments Network and payment services developer Acxsys. Since the service launch, the Canadian average has surpassed the US average by 33 percent.
The transaction number have jumped 94 percent in New York and Washington during November and December 2007, while for March 2008 the same states report 92 and 102 percent increases respectively in transactions alone over 2007.
NYCE is the first and only U.S. payments network to enable widespread PIN debit access at the point of sale for purchases initiated with debit cards issued by participating Canadian financial institutions.
ThoughtKey's President, Susan Kohl puts together a monthly bulletin designed to help understand the complex rules and programs surrounding PCI compliance with a focus on PIN Debit.
