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Prepaid Debit and Gift Cards 
According to the 2007 edition of the ATM & Debit News EFT Data Book, people are pulling out their debit cards more often. In 2006, debit card usage surpassed credit card usage for the first time. Cardholders are on mark to conduct 26.6 billion transactions at the point-of-sale this year while credit card transactions are projected to be 24.4 billion.
POS vs ATM
| 2006 | 2005 | Growth | |
|---|---|---|---|
| ATM | 842 |
877 |
-4.0% |
| Point of Sale | 840.2 |
684.2 |
22.80% |
| Total EFT | 1,682.3 |
1,553.2 |
7.40% |
Source: ATM&Debit News EFT Data Book Sept 2006 March data, in Millions, after eliminating duplication from gateway transactions
Debit card usage at point-of-sale locations grew nearly 23% between March 2005 and 2006 while pin-based transactions at ATMs, the traditional primary point-of-use, actually declined 4% during the same period, further emphasizing the trend that consumers are increasingly using debit to pay for their lattes as well as to get cash. “We see debit cards replacing cash and checks” says Timothy Keegan, EVP/CFO for Wings Financial.
The Growth of Prepaid Cards
** - Sources: Mercator Advisory Group; The Nilson Report
The total gift card market grew by 15% to $76.21 billion in 2008 from $66.22 billion in 2007, according to Tim Sloane, Director of Prepaid Services, Mercator Advisory Group.
Gift cards have established their place in the heart of the American retail market. Their style, convenience, and ease of purchase make them a mainstay of gift giving for generations to come.
The total amount loaded on prepaid debit cards is expected to exceed $100 billion by 2012**.
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