More than 174 billion non-cash payments—those made with debit card, credit card, ACH and checks—were made in the U.S. in 2018, totaling $97.04 trillion, the Federal Reserve reported today in its triennial payments study.
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Debit card use and market penetration continued to grow last year, while fraud losses declined, according to Pulse’s debit issuer survey released this morning.
Smaller debit card issuers—those covered by the Durbin amendment’s routing provision but not its interchange fee cap—continued to see a decline in debit interchange revenue, according to the Federal Reserve’s biennial survey of debit card issuers’ economics released today.
Noncash payments in the U.S. continued to see strong growth in the period between 2016 and 2017, according to an annual supplement to the Federal Reserve’s triennial payments study released today.
Payment fraud remains rare, representing small fractions of 1 percent of the total number and the total value of payments, according to the Federal Reserve Payments Study released today.
Debit card use and market penetration continued to grow in 2017, while fraud losses declined, according to Pulse’s debit issuer survey released today.
Banks should not expect relief from the courts when faced with losses caused by retailer negligence.
Credit cards and prepaid cards increased their share of payment instruments that households use in a typical month, according to results from the Federal Reserve Bank of Boston’s 2016 and 2017 Surveys of Consumer Payment Choice released today.
Retailers that have completed their EMV chip card technology upgrades have seen counterfeit fraud drop 76 percent from the end of 2015 to the end of 2017, according to new figures released today by Visa.