|
|
|
|
|
Recent results of a national research project revealed that Ethnic minorities own and use of ATM cards more than other U.S. consumers. The project was commissioned by PULSE EFT association, with the study conducted by Rice University Markeing Professor Dr. Richard R. Batsell. Over 3,000 interviews with respondents in all 50 states were used to base the study.
The survey showed that 71% overall have an ATM card with a checking or savings account. The data also showed that ownership was a higher percentage amoung ethnic minorities: African American 76%, American Indian 75%, Asian 74%, Hispanic 82%, White 68%.
Dr. Batsell attributed the wide usage of ATM cards by minorities in part to age differences across ethnic populations. He noted that younger consumers typically are more likely to use ATM cards, and that proportionally there are more young people among the U.S. ethnic minority populations than among Whites. Research consistently documents that older people are less likely to use ATM cards.
Beyond the ethnic minority findings, the PULSE study documented widespread public awareness of the multiple utility of ATM cards and heavy and sustained utilization of electronic systems.
-- The cards have become such a widely known convenience that 74 percent of all respondents are aware that they can use their cards at just about any ATM and 61 percent know they can be used to purchase goods and services.
-- Almost 70 percent of all interviewed have used a card at an ATM and 40 percent have used a card to pay for purchases at a point-of-sale terminal at a merchant location.
-- Among all respondents interviewed, the most frequently used means of obtaining cash is through ATMs.
-- While an overwhelming majority of cardholders have used their ATM cards at their own financial institutions (86 percent), the ability to use the cards almost anywhere is evident in the survey results. Nearly 69 percent of respondents say they have used their cards elsewhere in their own state, 54 percent say they have used them in other states and more than 15 percent say they have used them in other countries.
-- When asked if they would be interested in using an ATM card for purchases of goods and services, 66 percent of all surveyed -- both cardholders and non-cardholders -- answered "yes" and even higher percentages of African Americans (77 percent) and Hispanics (79 percent) said they would use them if they had them.
-- Compared to Whites, several ethnic minorities are more likely to use their ATM cards at shopping malls with 43 percent of African Americans, 47 percent of Asians and 43 percent of Hispanics reporting usage at least once during the last month, compared to 34 percent of the total population sample and 30 percent of Whites.
-- Among the entire sample surveyed, Asians ranked first in ownership of a home computer and any use of the Internet with a percentage of 68 and 59 respectively, compared to 54 percent and 46 percent for the total U.S. population. Other comparable percentages for computer ownership/Internet use were African American, 40/39; American Indian, 43/39; Hispanic, 39/34; and Whites, 57/48.
-- Brand recognition remains a valuable component in helping consumers use their cards. Slightly more than 68 percent of cardholders cite signs, symbols and logos on the ATM or their card as a guide to where they can be used.
For addition information on PULSE EFT go to: www.pulse-eft.com.
