View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Industry news
May 6, 2014

Three quarters of American adult consumers own debit cards – Packaged Facts

Around three quarters of American adult consumers now have a debit card, an increase of 14% in five years, according to a report from Packaged Facts.

By Verdict Staff

Around three quarters of American adult consumers now have a debit card, an increase of 14% in five years, according to a report from Packaged Facts.

The figure equated to more than 170m adult users with a debit card in the US.

Packaged Facts ‘Debit Cards in the US’ report revealed that approximately 52% of US adults are engaged debit card users, defined as those who have used a branded debit card within the prior 30 days.

This was an increase of 17% during 2010-2013, making debit card engagement at an all-time high in the US.

Between 2008-2010 debit card usage increased 8%, which Packaged Facts attributed to credit tightening alongside an increased importance in saving money and cutting spending making debit cards a more attractive solution.

The increase in debit card usage seen over recent years points to a healthier economy and successful debit card marketing strategies, according to Packaged Facts.

The report noted that the growth has continued despite programs that reward debit card use becoming increasingly rare.

Packaged Facts suggested debit card usage has become integrated in to consumers spending habits, so incentives for use are not needed as much.

Packaged Facts are a division of MarketResearch.com, offering custom research services and publishing market reports on consumer market topics.

Related to:

Debit card growth in UK not reflected in US

Card payments accounts for over two thirds of all non-cash payments in US-Fed study

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International