Internet Debit Card Use Overtakes Credit

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Visa debit card e-commerce transactions surpassed credit for the first part of 2005 -- 52 percent debit versus 48 percent credit -- showing a greater level of consumer comfort with using readily available funds for online purchases.


Second-quarter debit e-commerce transactions also jumped 38 percent over the year-ago period, while debit e-commerce sales volume grew 40.5 percent, according to Visa USA.


All told, online and offline debit transactions currently account for 46 percent of the dollar volume running through the Visa network in the United States.


Visa has reported success with its Verified by Visa product, which has seen its share of e-commerce transactions grow 230 percent in the past year versus 33 percent growth for Visa e-commerce transactions in the same period.


Verified by Visa is a cardholder authentication service that helps protect Visa debit and credit card numbers against unauthorized use. This product is claimed to have played a key role in driving payment card fraud to its lowest rate: less than 5 cents per $100.


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