Do you like debit or credit with your card?

Visa and Mastercard transactions have traditionally only been available to people with a credit card account. Now almost anyone with a transaction account can get a Visa or Mastercard debit card as well as an Eftpos card.

Mike Ebstein of MWE Consulting said debit card transactions accounted for 65 per cent of the number of card payments in May 2015. That is trending up.

Over the last five years numbers of debit purchases per account has grown by 43.5 per cent. The number of credit card purchases per account has increased 29 per cent. Debit is becoming more popular in Australia.

Source: Banking Day

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