Re:Visa and Mastercard agree to lower average credit card in...
by robertlagrant on Friday May 19, 2023 @06:00AM
(#35999735)
Seems crazy not to, just because of the risk of tapping a debit card that gets cloned. I only use a debit card to (occasionally) draw cash.
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Re:Visa and Mastercard agree to lower average credit card in...
by Symbiote on Friday May 19, 2023 @06:54AM
(#36000075)
Debit cards are 48% of all payments in the UK, and credit cards 8%.
Cash is 15%, the rest are various types of bank transfer. Note this is all transactions, online and in-person, including things like subscription renewals.
(How can a debit card be cloned, anyway? I'm not aware of any case of this, only a possible problem in the USA where data is 'cloned' onto a magstripe card.)
https://www.ukfinance.org.uk/system/files/2022-08/UKF%20Paym...
Re:Visa and Mastercard agree to lower average credit card in...
by robertlagrant on Friday May 19, 2023 @10:13AM
(#36002218)
Accordingly to ukfinance.org[0] 13% of card transactions are CC and the rest are debit. I'm surprised it's that high for CC, but still, I think it's reasonable to say a lot of people use them.
Er yes, you're right about debit card cloning I think. I'll retract that one :) However if purchase something that doesn't work your CC company is jointly liable (crazily enough) and if your card details leak you have protection against fake purchases. Neither is the case for debit card use.
[0] https://www.ukfinance.org.uk/data-and-research/data/card-spe...