Consumers might abandon credit cards and push $100 billion of spending onto debit cards every year because of coronavirus, a Visa executive says

Consumers might abandon credit cards and push $100 billion of spending onto debit cards every year because of coronavirus, a Visa executive says

Business Insider

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· *Consumers are using more debit cards compared to the other high-end option of credit as a result of the coronavirus pandemic, Visa has found.*
· *Visa's US credit-card volumes fell sharply in May year-on-year, while debit-card usage grew 12%, according to an SEC filing this week.*
· *The payment-card company's internal...

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