The debit card has grown to be the preferred method of
payment in-store, driving revenue and relationships to financial
institutions. But at the TSYS
Payment Preference study just reported, for the first time debit preference
is falling. The reason is more advise,
as does Ann
Carrns in the New York Times today, against using a debit card for in-store
or online purchases. Where is a consumer
supposed to use a debit card?
“Experts
recommend using a credit card
instead of a debit card both online
and in stores.”
instead of a debit card both online
and in stores.”
NYT, November 26, 2014
Don’t just watch your debit
use, revenue and relationships fall and switch to credit cards, PapPal and
non-bank payments providers like Kash
where no card is present. A solution is
so simple with the PaySound® Checking Plan or Payment Card. The customer is in control with a companion
debit card that they “load” and unload with online banking. When not in use, no funds are at risk if the
card is compromised. Best of all, it is
just a checking account on your system.
It is time for you to review the PaySound.®
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