Consumer Payment Card News

Check Card Speeds Check Out

Americans spend an average of 22 minutes waiting in check-out lines to pay for purchases or services each day which adds up to over two and a half hours a week, or more than five days a year, according to a survey commissioned by Visa U.S.A. To add to the frustration of losing time to long lines, Americans are recognized that certain forms of payment slow down the line and actually make their wait longer. More than one-quarter (28.1%) of the 1,013 survey respondents report they become annoyed when the person ahead of them in line pays by check.

FULL STORY:
This weekend, Daylight Savings Time will steal another precious hour from American consumers.

Americans spend an average of 22 minutes waiting in check-out lines to pay for purchases or services each day which adds up to over two and a half hours a week, or more than five days a year, according to a survey commissioned by Visa U.S.A. To add to the frustration of losing time to long lines, Americans are recognizing that certain forms of payment slow down the line and actually make their wait longer. More than one-quarter (28.1%) of the 1,013 survey respondents report they become annoyed when the person ahead of them in line pays by check.

Visa commissioned the survey to highlight the time-saving advantages of the Visa check card, the company’s popular debit product that automatically deducts the amount of a transaction from a cardholder’s checking or savings account. A typical check card transaction takes less than half the time it does to process a check at the point of sale.

“Paying by check eats up your valuable personal time and the time of those behind you in line at the register. Check cards not only save about 30 seconds per transaction over the time it takes to pay by check — but they also allow you to avoid standing in line altogether,” said Robert Baker, senior vice president of deposit and cash products for Visa U.S.A. “Since debit cards can be used to make purchases over the phone and on the Internet, some purchases may be accomplished without even leaving home.”

There are many ways the Visa check card can save time and headaches for consumers by minimizing errands and ultimately reducing the hassle of waiting in line. For example, customers can buy groceries online by setting up a custom order and having it delivered at their convenience. Other time-saving tips for making purchases with the check card, either by phone or online, include buying movie and airline tickets and using catalogues to complete shopping.

In addition to convenience, the debit card offers consumers security and financial management options that cash and checks can’t match. “A debit card can be a very helpful tool,” said financial expert and author Terry Savage. “It allows consumers to control and track expenses immediately, with every transaction. Debit offers a safer, more convenient ‘pay-now’ tool to help consumers better manage personal finances.”

Debit cards are the fastest growing form of payment in the nation and the Visa check card is leading that growth with 58 million cardholders. Visa extends the same consumer protections to Visa check cardholders that their credit customers also enjoy. In August 1997, Visa introduced a zero liability provision which protects cardholders who experience loss due to theft or fraud. If the consumer reports fraudulent usage within two business days of discovery, his or her financial responsibility is zero. After two days, the consumer will never be held liable for more than $50.

A total of 1,013 men and women aged 18 or over were interviewed March 27-31, 1998 by International Communications Research of New York.

Visa is the preferred payment brand and the largest consumer payment system worldwide. It plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions, their cardholders, and the global economy. Visa is the only consumer payment system to facilitate $1 trillion worth of purchases of goods and services in a fiscal year. Visa’s 618 million cards are accepted at more than 14 million worldwide locations, including more than 400,000 ATMs in the Visa/PLUS Global ATM Network. Visa’s Internet address is http://www.visa.com.

Leave A Reply