Shoppers use debit cards more on ecommerce websites: Report

BENGALURU: Debit cards continued to be the most preferred payment instrument for shoppers on ecommerce websites, according to a report by payment technology and transaction processing company Financial Software and Systems (FSS).

There were 589 million debit card transactions reported on the FSS gateway compared with 201.4 million credit card transactions last year, according to the FSS Payments Trend Report 2018. In terms of value, credit cards were ahead at more than $10 billion compared with slightly less than $8 billion for debit cards.

“For the trend report, we have only calculated merchant payments done digitally that are being processed by our platform and not included peer-to-peer payments,” said Suresh Rajagopalan, president of software products business at FSS. “Overall transactions have also been growing, which is a healthy sign, driven by strong growth in debit card transactions.”