Home News 2004 March Debit Backlash

Debit Backlash Thu, Mar 18, 2004

AddThis Social Bookmark Button By Jennifer Dewalt, CardTrak.com

Americans love their debit cards and are unhappy when merchants refuse to take them. Nearly 90% of consumers say they would you take their business elsewhere if a merchant refused to accept their VISA or MasterCard-branded debit card. However, Wal-Mart decided this year to stop accepting MasterCard signature debit cards, instead forcing customers to use their PINs to complete a transaction. In an informal poll conducted on CardWeb.com's homepage during February, 88% of the 1,111 respondents said they would switch to a merchant that accepted their VISA or MasterCard-branded debit cards. A December survey, conducted by Harris Interactive for MasterCard, found that nearly two-thirds of respondents said their feelings toward a store would be negatively impacted if a merchant stopped accepting debit cards. The survey included a nationwide sample of 2,465 adults. Last year, Americans spent $576.4 billion on VISA and MasterCard signature debit cards, a 16% jump over 2002.

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