Card payment processing firm The Members Group (TMG) found that debit spending among its 3.5 million account holders increased on Black Friday and Cyber Monday 2013 when compared to 2012’s figures, a press release revealed on December 26.
Overall, debit spending among its user base increased 12 percent over the last two years, the company reported. The average transaction size during Thanksgiving week was found to be $134, up from the $131.66 in spending reported last year.
“Even as more payment tools emerge, consumers continue to love their credit and debit cards. The numbers seem to indicate a trend in consumer comfort using their debit cards for larger transactions,” Georgann Smith, TMG’s vice president of marketing, said in a December 26 statement.
The average size of credit card purchases was also found to be on the rise. For our latest data on consumer credit card use, click here.
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