Debit Usage Collapses At Visa As Consumers Shift Back To Credit
(Flickr / orphanjones)
Visa offered some disappointing data on payment trends
this morning in a new 8-K filed with the SEC
.
The key takeaway: debit transactions collapsed as consumers shifted to credit.
From the release (emphasis added):
For the month of April 2012, U.S. aggregate payments volume growth was negative 3%versus U.S. aggregate payments volume for the prior year period. Further broken down, U.S. credit payments volume growth was positive 8%and debit payments volume growth was negative 12%. Cross border volume growth on a constant dollar basis was positive 13% globally over the prior year period. Processed transactions growth was negative 1% globally.
Through May 28, 2012, U.S. aggregate payments volume growth was 0%versus U.S. aggregate payments volume for the prior year period. Further broken down, U.S. credit payments volume growth was positive 10%and debit payments volume growth was negative 8%. Cross border volume growth on a constant dollar basis was positive 13% globally over the prior year period. Processed transactions growth was positive 1% globally.
Visa shares were nearly two percent lower in pre-market trading.
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