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Americans still prefer to pay with debit cards, but the number of such users is steadily declining, according to a new report from processing company TSYS.
43% of the 1,000 people surveyed who hold both debit and credit cards named a debit card as their preferred payment method. In 2021, their share was 49%. The share of users who prefer to pay with credit cards remained unchanged - 35%.
TSYS suggests that the decrease in active debit card consumers is related to security issues. “The preference for using credit cards is most likely associated with the risk of becoming a victim of fraud. 89% of respondents said they feel safe using their credit cards, while for debit cards their share has dropped to 83%, ”the study said.
Among online payments, the numbers are different. 48% of consumers prefer to shop online using credit cards, which is 7% more than last year. Only 30% use debit cards. PayPal has lost 10% of its popularity compared to last year's figures - only 12% of respondents prefer to use it to make payments on the Internet.
When it comes to mobile payments, the risk of fraud also plays the most important role. “When conducting a survey on the use of a mobile device to make payments, the majority of users were interested in protecting their accounts with mobile payment monitoring and tracking tools,” the study said.
Recall, according to a recent study, Europeans prefer to pay with plastic cards in online stores.
43% of the 1,000 people surveyed who hold both debit and credit cards named a debit card as their preferred payment method. In 2021, their share was 49%. The share of users who prefer to pay with credit cards remained unchanged - 35%.
TSYS suggests that the decrease in active debit card consumers is related to security issues. “The preference for using credit cards is most likely associated with the risk of becoming a victim of fraud. 89% of respondents said they feel safe using their credit cards, while for debit cards their share has dropped to 83%, ”the study said.
Among online payments, the numbers are different. 48% of consumers prefer to shop online using credit cards, which is 7% more than last year. Only 30% use debit cards. PayPal has lost 10% of its popularity compared to last year's figures - only 12% of respondents prefer to use it to make payments on the Internet.
When it comes to mobile payments, the risk of fraud also plays the most important role. “When conducting a survey on the use of a mobile device to make payments, the majority of users were interested in protecting their accounts with mobile payment monitoring and tracking tools,” the study said.
Recall, according to a recent study, Europeans prefer to pay with plastic cards in online stores.