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US Debit Card Usage Soars as Consumers Embrace Convenient Payments

The Fintech Times

US consumers are increasingly turning to debit cards for their everyday transactions, driving a significant surge in the number of transactions and overall spending. On average, active debit cardholders completed 34.6 transactions per month, including 30.7 ATM transactions.

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An Overview of Debit Cards, P2P Payments, and Digital Cash in 2024

Clearly Payments

Summary of Statistics in this Article In the United States, contactless payments accounted for 34% of all debit card transactions in 2023, a significant increase from 19% in 2020. According to Visa, tokenized transactions accounted for 85% of all mobile debit transactions in North America in 2023.

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How Radius Bank Is Tapping Mobile, Digital Card Issuance To Keep Debit Transactions Secure

PYMNTS

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

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How to Accept Online Payments for Free in 2024

Payment Savvy

Online payments’ convenience and speed can boost customer satisfaction and streamline operations. Accepting online payments without incurring fees may sound appealing, but it’s not feasible. Payment processing is how a merchant services provider handles credit card transactions. Why Free Payment Processing?

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Deep Dive: Assessing And Tackling Debit Card Fraud

PYMNTS

Fraudsters have grown adept at finding debit cards’ weak points, and merchants are struggling to keep up. Losses due to false credit and debit card declines — in which merchants reject legitimate orders on the mistaken belief that they are fraudulent — grew to $118 billion last year and are projected to reach $443 billion by 2021.

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Radius Bank: Virtual Debit, Mobile Tools Help Banks Fight Debit Fraud

PYMNTS

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions.

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What is ACH Credit and ACH Debit and How Do They Work?

Stax

Understanding ACH credit payments means understanding the way in which different types of ACH payments are processed in the US banking system. ACH credit payments differ from ACH debit payments and both are distinct from credit and debit card payments. What are ACH Debit Payments?

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