International Debit Card Use on the Rise
Debit card use on the rise internationally, while travellers cheques tail off
3rd February 2004
Use of international debit cards such as Switch/Maestro rose dramatically in 2003, with 17% more transactions at foreign cash machines by UK travellers.
The growth is expected to continue, with a predicted doubling over the next 3 years. Much of the growth has come at the expense of travellers cheques.
A Switch/Maestro spokesman said that the convenience of plastic was not the only reason for the rise, as a major factor was the "large growth in weekend short trips which people often taken out of their current spending, rather than the traditional holiday which people save for, and organise their currency."
Read More: The Scotsman
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