Debit Cards and Fraud - ACRS White Paper
The ACRS Thought Leadership Series April 2009
The RBA’s monthly statistics on the use of payment cards in Australia, revealed in April 2009 for the first time, the split between EFTPOS and scheme (MasterCard and Visa) debit for the twelve months ending February 2009. They reveal that scheme debit is gaining share from EFTPO, moving from a share of value of purchases of 21.3% in March 2008 ,to 23.7% in February 2009 and that the average ticket size of a purchase made with a scheme debit card is approximately 50% greater than an EFTPOS purchase. This paper examines the implications of both the recent shift from credit to debit card spending and the move from EFTPOS to scheme debit, in the context of the implications for fraudulent transactions.