Debit, Credit Card Use Will Boost Retail Sales This Mothers Day, Survey Says

"The results of this survey underscore how the current system benefits both consumers and retailers," said Peter Madigan, Executive Director of the Electronic Payments Coalition. "Consumers enjoy the speed, convenience, and reliability that plastic provides, and retailers enjoy increased sales and faster payment. It's a win for everyone."

The survey found that 52 million Americans plan to use a credit or debit card to buy a gift this Mother's Day. Among the chief reasons consumers choose to pay with plastic: 97 percent of people indicated convenience is a key factor; two-thirds said the ability to make online purchases is a valuable feature; more than half cited the payment protections is important; and 45 percent said that assistance in budgeting expenses is a key feature.

"Payment cards are a revolutionary tool," continued Madigan. "From the small e-business that survives or dies based on its ability to reach an online customer base to the corner florist who depends on filling last minute orders -- retailers receive a much needed boost to sales on Mother's Day when they offer payment card options."

The Mother's Day Shopping Forecast, conducted by KRC Research, was a national survey of 1,042 Americans aged 18 and older in April 2007.

The Electronic Payments Coalition is a broad-based group of 55 community banks, trade associations, financial services institutions, and payment card networks dedicated to protecting consumer choice and competition. Its mission is to educate policy-makers and the public about the value of payment systems and the many benefits provided by these systems to consumers and merchants -- including convenience, speed, reliability, security, and fraud protection.