Eye-Popping PIN Debit

Here’s a data point that deserves notice: PIN debit volume in the US spiked 6.7% last month.

Yes, you read that right, 6.7%. With growth rates like that, PIN debit could finally hit the big time in this nation sooner rather than later.

That growth rate was October was healthy “as shoppers became less pessimistic about the economy,” according to First Data, which published the statistics today. “Improved consumer sentiment and a pullback in savings continued to support spend.”

Overall electronic payments transaction growth, however, slipped to 5.9% in October compared to 6.3% in September. That is still a strong number for overall electronic payments growth, though.

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