Debit Cards News
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News : Topics : Debit Cards Debit cards have a short but successful history in the UK. Introduced to the country by Barclays in 1987, the following two decades saw their use mushroom until they overtook cash in popularity for the first time in 2005. Debit cards are a method of paying by plastic and can be used in most outlets which accept credit cards. Unlike credit cards, they are linked to your current account and the money you spend with your card leaves your account within a matter of days. It is not possible to build up a balance using a debit card, and retailers can check that your account has sufficient funds before the purchase is approved. The two most common kinds of debit card are the Delta, operated by Visa, and Maestro which is run by Mastercard, both of which can be used internationally. One of the most well known kinds of debit card, Switch, has been taken over by Mastercard and is now run under their Maestro brand after a period of being known as 'Switch Maestro'. News Stories on Debit Cards:Debit Card Use Overtakes Cash - UK debit card use was worth more than cash for the first time in 2005 (24/04/2006)£437bn Spent on Debit and Credit Cards - Research estimates how much is spent in the UK using plastic every year (12/10/2005) Plastic Finally Overtakes Cash - UK spending on credit and debit cards has overtaken cash for the first time (29/12/2004) Halifax Launches Cashback Debit Card - The Halifax introduces the first debit card to offer a cashback feature (15/12/2004) Halifax Card Switch Blocks Thousands from Online Shopping - Halifax Cardcash account holders moved to Visa Electron, which is rarely accepted online (16/05/2004) International Debit Card Use on the Rise - Debit card use on the rise internationally, while travellers cheques tail off (03/02/2004) Cash Still More Popular Than Cards - More people still use cash than credit or debit cards for day to day spending (01/02/2004) |
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