Study: Consumer Debit Card Use Declines As Prepaid Grows

Instead of debit card usage, Mercator’s researchers found that consumers are relying on what have often been considered fringe financial services. For instance, largely forsaking the services provided by banks and credit unions, half of consumers surveyed said they were using check cashing, bill payment, money transfers, short-term loans and rent-to-own arrangements to take care of their financial needs.

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