Debit transactions were nearly 70% of U.S. transactions for the same period, representing an increasingly larger portion of Visa's U.S. transactions.
"In 2002, U.S. Visa debit transactions surpassed credit transactions for the first time, and now payments volume has also exceeded [image-nocss] credit. This marks an important achievement for Visa, as we continue to advance migration to electronic payments from cash and checks," said Bill Sheedy, president for North America at Visa.
Consumers are increasingly turning to debit cards for nondiscretionary purchases or everyday spending, the company said. As of March 2009, approximately 52% of U.S. debit volume was for nondiscretionary items like food and clothing.
The top categories for Visa debit usage include bill payment, gasoline, groceries and quick-service restaurants. Additionally, Visa research shows consumers have a growing preference for using debit in new merchant categories where cash and check were once the preferred way to pay, such as gas stations, convenience stores, dry cleaners and movie theaters.
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands.
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