With holiday spending expected to top $470 billion, the National Retail Federation predicts more than 70 percent of shoppers will primarily use electronic payments for their holiday purchases. Whether using a debit or credit card this holiday season, electronic payments provide a safe, reliable and convenient form of payment that benefits both consumers and merchants.

In addition to the many benefits derived by consumers, merchants also enjoy significant advantages from accepting electronic payments, realizing increased sales at the register, faster payment, and greater fraud protections. In fact, merchants realize almost half of their annual profits and sales in November and December.

"In this hectic shopping season, as with purchases throughout the year, the benefits offered by electronic payments allow consumers to shop and merchants to sell with the confidence that they are protected," remarked Peter Madigan, Executive Director of the Electronic Payments Coalition (EPC).

The safety of electronic payment is one of the primary reasons cited by consumer groups and government agencies which continue to promote the use of debit and credit cards for both in-store and online purchases this holiday season, including the Federal Trade Commission and the American Automobile Association (AAA).

Due to the increasing popularity of online shopping, secure payment is of particular importance to both consumers and merchants who use the internet for their holiday shopping activities. According to Jupiter Research's U.S. Online Holiday Forecast for 2007, online retail sales are expected to increase 20% over the 2006 holiday season, with $39 billion in projected sales. Without electronic payments, this increasingly popular shopping avenue simply would not exist.

Concluded Mr. Madigan, "Merchants and consumers alike share the need for convenience and security during this busy shopping season. The use of debit and credit card payments offers tremendous benefit to everyone involved."