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04/03/2010 -
Though the economic downturn may be coming to pass, some of its effects - such as the increasing shift away from credit card processing and toward debit card processing - may linger.Payment processing news magazine The Green Sheet recently reported that the growing popularity of debit cards will cause a change in the overall payment processing landscape, with card brands more aggressively promoting their debit offerings and shipments of debit card-enabled POS terminals expected to continue climbing.
David Fish, senior analyst at Mercator Advisory Group, told the magazine that although the shift started with consumers and their desire to have tighter control over their finances, it is now being felt by merchant acquirers and their business partners.
"Since acquirers' core business is still heavily credit-dependent, shifts in business models will need to catch up with consumer behavior," he told The Green Sheet.
A recent report from Mintel Comperemedia echoed these findings, forecasting that banks will be more aggressive in their debit card incentives in 2010 to capitalize on the payment processing method's growing popularity.
