News for hackers. Stuff that matters.

A comment on A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millions of Borrowers. Parent comment

Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by kalleboo on Monday December 09, 2019 @06:06AM (#21741711)
The statistics that I found on a quick google show pretty small differences in debit/credit split between the US and EU. EU just has more cash. (these numbers are self-reported through a survey though so may be unreliable)

US Cash/Debit/Credit: 30%/35%/30%

EU Cash/Debit/Credit: 38%/30%/26%

[ Parent | on HN ]
Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by ojilles on Monday December 09, 2019 @06:26AM (#21741793)
These are percentages of what, exactly?

(If it's 'type of payment method' owned: possible. But if it's volume of currency exchanging hands then it //really// mismatches with my experiences in US vs Northern EU)

[ Parent | on HN ]
Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by LeonidasXIV on Monday December 09, 2019 @07:12AM (#21741963)
That said, northern EU is the place where people don't remember exactly how cash looks like since everything is paid either with card or using an app. But northern EU is population-wise a rather small market.
[ Parent | on HN ]
Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by ojilles on Monday December 09, 2019 @07:52AM (#21742156)
Exactly, but most of those I would think of as "debit", albeit electronically. (RFID bank card, apple pay -- all do not route to a line of credit in Europe but to debit/checking accounts).
[ Parent | on HN ]
Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by kalleboo on Monday December 09, 2019 @09:46AM (#21743054)
The chart said percentage of transactions
[ Parent | on HN ]
Re:A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millio... by brnt on Monday December 09, 2019 @08:06AM (#21742223)
European CCs provided by banks are often direct debit. On top of that, having a CC as backup for travel is common too. Transaction volume will show a very different distribution.
[ Parent | on HN ]