InstaPay Systems Sees Growth in ATM Debit Market

Friday 16 April 2004 13:10 CET | News

InstaPay Systems is seeing strong indications that merchants are moving rapidly towards broader acceptance of ATM/Debit payments. According to analysts, more than 16 billion debit transactions were processed last year, nearly double the number from 2000.

According to the American Bankers Association, Debit card popularity is soaring in the US with 65 percent of consumers using a debit card at least once a week. Sams Club, the second-largest U.S. warehouse club chain, which is owned by WalMart, recently announced that it will end its pilot acceptance of Visa and MasterCard credit cards on April 21. However, Sams Club will continue accepting Visa debit cards. InstaPays Kryptosima subsidiary has developed the first patented production system for delivering encrypted transactions over the Internet. To the Companys knowledge, this is the only production system enabling Internet merchants to accept ATM card (PIN debit) payments.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce