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Debit and Credit Card Use Will Boost Retail Sales This Mothers Day
added: 2007-05-14

Pointing to a recent survey that found 21 million Americans will purchase more on Mother's Day because they pay with a debit or credit card, the Electronic Payments Coalition reaffirmed its core message that payment card options are increasingly preferred by consumers and an important part of retailer sales.

"The results of this survey underscore how the current system benefits both consumers and retailers," said Peter Madigan, Executive Director of the Electronic Payments Coalition. "Consumers enjoy the speed, convenience, and reliability that plastic provides, and retailers enjoy increased sales and faster payment. It's a win for everyone."

The survey found that 52 million Americans plan to use a credit or debit card to buy a gift this Mother's Day. Among the chief reasons consumers choose to pay with plastic: 97 percent of people indicated convenience is a key factor; two-thirds said the ability to make online purchases is a valuable feature; more than half cited the payment protections is important; and 45 percent said that assistance in budgeting expenses is a key feature.

"Payment cards are a revolutionary tool," continued Madigan. "From the small e-business that survives or dies based on its ability to reach an online customer base to the corner florist who depends on filling last minute orders - retailers receive a much needed boost to sales on Mother's Day when they offer payment card options."

The Mother's Day Shopping Forecast, conducted by KRC Research, was a national survey of 1,042 Americans aged 18 and older in April 2007.


Source: PR Newswire

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