Americans Spent 5% More Using Credit and Debit Cards Last Year

While a recent comScore report shows that consumer awareness and usage of digital wallets remains low, there are no such issues in the general purpose card market, per the latest figures from The Nilson Report. Americans used credit, debit and prepaid cards to make almost $3.8 trillion in purchases at merchants last year, representing a 5% increase from 2011. Almost 60% of that spending was made using credit cards, with Visa cards accounting for about 44% share of that total, or $981 billion. (more…)