PSCU Releases Weekly Performance Data Trends

PSCU, the nation’s premier payments credit union service organization, has updated its weekly transaction analysis to identify the impact of COVID-19 on consumer spending and shopping trends for week ending June 14, 2020.

Debit card spend was up 12.9%, marking the ninth consecutive week of year-over-year growth and continuing a growth level not seen since the pandemic buying spree in early March. Transactions were down 1.2%, but have shown weekly improvements for 11 consecutive weeks. 

Credit card spend was down 6.7% year over year, an improvement over the previous week. Transactions were down 11.4%, but have shown improvements for 10 consecutive weeks. Consumers continue strong usage of card-not-present (CNP) alternatives and appear to be using less cash. 

Debit card CNP volumes continue to show strong year-over-year growth, up 41.6% for purchases and 42.2% for transactions in Week 24. This is the ninth consecutive week of growth above 40% for debit.  

Credit card CNP volumes were up 11.3% for purchases, with transactions up 23.3%.

Overall U.S. spend was up 13% for debit and down 6.6% for credit.

WK24 trend infographic