Discover the Top 7 Mind-Blowing Fun Facts About Debit Cards You Never Knew

1. The Tinder of Finances

Before swiping right on Tinder became the norm, people were swiping left and right with debit cards: The first debit card was introduced in 1966 by the Bank of Delaware, and by 2009, there were an astonishing 37.6 billion transactions made using prepaid and regular debit cards.
Source => marketplace.org

2. Magic Money Trees

Whoever said money doesn't grow on trees clearly hasn't tapped into the financial forest that is debit cards: These nifty plastic magicians can not only grant access to your checking account funds, but also unlock the treasure troves of your savings and investment accounts, making your money ready to branch out at your command while electronically leaf-ing through your financial tree with ease.
Source => reviso.com

Did you know the world's first multi-purpose charge card was introduced in the 1950s by Diners Club? It allowed elite New York members to enjoy 28 classy eateries and two swanky hotels, while also paving the way for travel insurance perks and corporate card options. Discover more fascinating credit card history!

=> Fun Facts about Credit-Cards

3. Debit's Hollywood Takeover

In a plot twist worthy of a Hollywood blockbuster, the humble debit card has stolen the spotlight from its flashy cousin, the credit card, and is now basking in the warm embrace of consumer preference: According to S&P Global Market Intelligence, as of Q2 2022, 56.2% of consumers prefer using debit cards as their primary payment card, while 39.5% still cling to credit cards—a stark contrast to last year's numbers when only 40.2% championed debit cards compared to 54.6% for credit.
Source => digitaltransactions.net

4. CIA Fashionista

Who would've thought that Forrest Parry, an IBM engineer in the '60s, moonlighted as an accessory designer for the CIA's fanciest soirées? Let's just say he magnetized the fashion scene: Turns out, Parry invented the magnetic stripe technology found on debit cards today, initially for CIA officials' identification purposes. Soon after, IBM embraced this tech and worked with banking and airline industries to make it a staple on ID cards, drivers' licenses, and ATM cards as we know them today.
Source => ibm.com

5. Whiskerstein's Debit Debut

If you've dreamt of paying for groceries with a picture of your cat "Whiskerstein" gracing the front of your debit card: your dreams could be a reality! With Card Design Studio services, you can customize your debit card by uploading personal photos or choosing from an online library, receiving your masterpiece within 5 to 7 calendar days after approval.
Source => wellsfargo.com

6. Kevin James of Payments

Debit cards, the Kevin James of payment methods, finally getting their due recognition and rising to stardom, while the flashy credit cards take the back seat: In Q2 2022, 56.2% of consumers preferred using their debit cards as their primary payment card, compared to 39.5% choosing credit cards – a significant leap from the previous year's 40.2% for debit and 54.6% for credit.
Source => fool.com

7. Wallflower to Must-Have

Before debit cards swiped right to become the modern bachelor's best friend at the grocery store, they were once just a wallflower at the Bank of Delaware's 1966 party: The first-ever debit card was introduced by the Bank of Delaware in 1966, but it took a couple of decades and an ATM-boom for debit cards to truly find their groove, skyrocketing from 300 million transactions in 1990 to 37.6 billion in 2009. And although fees have always followed them like a bad breakup, recent regulations have put some major banks, like Wells Fargo, into a financial heartache, with up to $250 million losses per quarter.
Source => marketplace.org