Debit Card Usage By Women Doubled Since 2003

The research revealed that 77 percent of women surveyed under 55-years old have primary or shared fiscal decision-making responsibilities with 85 percent indicating that they are increasingly using their debit card to help manage personal finances. The results also show that women are more likely than men to feel the pressures of home, family and finances.

"We found that with their added responsibilities, women today are time starved and looking for financial management solutions that can simplify their lives and free up more time. In fact, the average woman is cramming 38 hours into a 24-hour day," said Patricia Preston, Group Head, Debit Product Management - Americas, MasterCard Worldwide. "And, women now represent 61 percent of the most frequent debit card users, relying on debit for the purchasing flexibility and management it affords. Debit MasterCard cards offer women a quick, easy payment solution that helps make a woman's day a bit easier."

Furthermore, a recent MasterCard lifestyle survey found that fewer women find time to treat themselves. A study of 1,000 women 24- to 45-years old found that 60 percent of women pamper themselves only once every three months or less. The study also found that 34 percent do not put money aside while 53 percent allocate less than $25 a month to treat themselves. Results showed that when women do treat themselves they use their debit card to pay nearly half of the time (47 percent).

The "Women in the Financial Marketplace" analysis is part of the Yankelovich MONITOR 2006/2007 report. The study was conducted in 2006 and included in-person, phone, web interviews with 4,110 adults of which 1,481 were women under 55.