Debit Cards vs Credit Cards – Chalk and Cheese?
Credit cards are hugely popular these days, but take a moment to consider whether debit might trump credit. Credit cards offer a convenient way to manage your cash flow and they are great for making payments. Over the past ten years banks have introduced new types of credit cards such as low rate and zero balance transfer offers, and the market has exploded with offers. The old ATM/eftpos card has also served many Australians perfectly well for doing basic banking tasks. But lately, CANSTAR CANNEX has seen a sharp rise in the popularity of debit cards amongst consumers. A debit card is a card branded just like a credit card scheme, and currently these cards are available on both VISA and MasterCard. The product will be familiar to many credit union members as credit unions have offered debit cards for more than a decade. Now it seems that debit cards are hitting the mainstream. Recent figures show that 56% percent of Visa’s global card sales volume was made on debit cards compared to 4
