PIN Debit News Quote of the Day

From the Wall Street Journal



Credit Transactions Decline 11.55%, PIN Debit up 9%



In the third quarter of 2009, credit transactions for Visa and MasterCard reached $313 billion, an 11.58% decline over the same quarter in 2008, according to TowerGroup. Debit transaction volume for Visa and MasterCard was $303 billion, a 5.21% increase over the third quarter in 2008.

"Consumers are preferring to use their PIN debit card as compared to credit or even cash," according to Silvio Tavares, senior vice president of industry relations for First Data Corp., a transaction processor for merchants.



PIN debit-card transactions, in which the consumer enters a numerical pass code, increased by 9% this Black Friday over last year, according to First Data, which processes transactions for sellers.

 Editor's Note:  Yeah...but I'll bet that won't be the case when Cyber Monday results kick in... 

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