INTERAC PAYMENT GROWING
By Adnews Staff
More and more Canadians are using their debit cards to pay for items, according to the Interac Association. The payment option has grown by 362% in two years with transactions exceeding 670 million in 1996. In 1994 there were 185 million. In December 1995, 5.5 million debit cards were in use. This compares to 1996, when there were 10.8 million cards being used. Dollar value has also grown. In December 1996, the total value of payments using debit cards grew to $30 billion. In 1994, this figure was $9.4 million.
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