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PSCU: Debit Card Spend Growth Above Historic Levels

PYMNTS

Credit union service organization (CUSO) PSCU compared the 19 th week of 2020, which concluded on May 10, to the same timeframe in 2019 to discover the impact of the pandemic on consumer spending and shopping trends. The average debit card purchase amount rose 19.9 percent year over year.

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PSCU Study Shows Overall Spending Down Amid Coronavirus Pandemic

PYMNTS

As the coronavirus pandemic continues to disrupt personal finances, a study by credit union service organization (CUSO) PSCU shows that overall credit card spending is down 29 percent for the week ending April 5, compared to the same period in 2019. Debit card spending is down 12 percent for the same period.

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NY Fed: Credit Applications, Acceptances Plunge During Pandemic

PYMNTS

Many people began to think long and hard about using credit when they were unsure if they'd have financial stability with the mass layoffs and virus shutdowns. Credit union service organization (CUSO) PSCU noted that there had been a 28.9 percent decrease of credit card spending in April as opposed to a year prior.

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PSCU Says CU Spending Up With Stimulus Funds Arriving

PYMNTS

Credit union service organization (CUSO) PSCU compared the week ending April 19, 2020, to the same time frame in 2019 to discover what impact the coronavirus is having on consumer spending and shopping trends. People spent more money on consumer goods, with a 20 percent increase in debit card transactions.

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PSCU: Consumers Choose Debit As Preferred Payment Amid Coronavirus

PYMNTS

Amid the coronavirus pandemic, PSCU compared transactions of its owner credit union members on a same-store basis between March 2019 and March 2020. percent year over year, with debit card incremental spend coming out ahead of credit cards by 3.5 percent drop. percent drop. Transaction dollars are higher 41.3

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How Music Retailers Keep Card-Not-Present Fraud From Sounding A Sour Note

PYMNTS

These two forces appear to be driving an increase in consumers’ use of touch-free debit payment options. Many shoppers are now loading their debit card details into mobile wallets and ordering apps, keying the information into online checkouts or waving contactless debit cards at POS terminals.

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PSCU: Owner CUs Saw Rising Debit, Credit Sales Volumes Over The Holidays

PYMNTS

Payments credit union service organization (CUSO) PSCU reported 11.4 percent year-over-year debit and credit overall same-store sales volume growth among its owner credit unions over the 2020 holiday season, according to a press release emailed to PYMNTS.

Volume 62