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CONSUMERS NOW PAY FOR PURCHASES WITH VISA CHECK CARD AND INTERLINK ONE MILLION TIMES A DAY

 SAN FRANCISCO, Aug. 17 /PRNewswire/ -- U.S. consumers are using either Visa check card (formerly Visa Debit) or Interlink products for an average of one million times each day. This milestone signifies that banking/ATM card usage is changing the way Americans pay for goods and services. This milestone further reflects a doubling of daily check card usage within two years.
 These banking cards, to which Visa now refers as check cards, can be used to pay for purchases by accessing the customer's checking account. Check cards are banking/ATM cards enhanced with point-of-sale (POS) features and the Visa or Interlink logo, signifying acceptance at participating merchants. Consumers most often use check cards for purchases typically paid by cash and checks.
 Visa reports that two factors are driving consumer use of check cards, rather than cash or checks: convenience and financial management. A recent study conducted by Visa among 1,200 consumers found that interest is primarily linked to the card's capacity to make shopping more convenient, reduce the amount of cash that is carried, and replace checkbooks which many find a nuisance. Those surveyed said that check cards in general serve as financial management tools, helping them become better organized since all transactions appear on their bank account statement each month.
 "This is a significant milestone for Visa and Interlink, and it offers evidence that check cards have indeed captured the attention of American consumers," said Wesley C. Tallman, executive vice president of marketing and product development for Visa. "If the past few years are any indication, we expect check card usage to continue its upward climb at a rapid clip. Already, check cards account for nearly one-fourth of Visa's entire worldwide sales volume.
 "Currently, we have more than 32 million Visa check card and Interlink cardholders in the U.S., and we expect this number to more than triple to well over 100 million by the end of 1996," added Mr. Tallman.
 Visa check cards allow cardholders to use their cards at any of the locations that accept Visa, including the more than 10.4 million merchants worldwide. Interlink cards can be used at 20,000 POS locations which display the Interlink logo. Interlink, a subsidiary of Visa U.S.A., is the largest direct debit, POS network in the world and processes more than half of all direct deposit access POS transactions conducted in the U.S.
 Visa is the leading consumer payment system in the world with more than 10.4 million acceptance locations, the largest global ATM network and 309 million cards issued worldwide, including 152 million in the U.S.
 -0- 8/17/93
 /CONTACT: Roseann Clavelli of Visa U.S.A., 415-570-3439/


CO: Visa U.S.A. ST: California IN: FIN SU: PDT

TM -- NY009 -- 3414 08/17/93 09:04 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
Words:469
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