NEW YORK—Credit usage continues to dominate online spending, while debit is king in retail stores, new data show.
According to an October 2023survey by PYMNTS of more than 2,100 U.S. consumers, 44% had paid for their most recent retail purchase in stores via debit card, while 28% paid with a credit card.
Conversely, 41% of consumers surveyed had paid for their most recent online retail purchase using a credit card, a greater share than said the same of any other payment method, while 36% used a debit card, PYMNTS said.
PYMNTS noted that fraud concerns likely are the reason for heavy credit usage online.
“For online purchases, credit cards may be preferred because they often offer better fraud protection compared to debit cards,” the report stated. “Many credit card issuers have sophisticated fraud detection systems and provide zero-liability policies for unauthorized transactions. Additionally, credit card users can dispute charges and initiate chargebacks for fraudulent or undelivered goods, providing an added layer of consumer protection.”
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