PSCU Releases Weekly Performance Data Trends

PSCU, the nation’s premier payments credit union service organization, has updated its weekly performance data trends from week ending June 21, 2020. Overall card payment volumes were very positive for the week, with debit continuing to lead the rebound. 

Debit card spend was up 21.4%, marking the tenth consecutive week of year-over-year growth, the best growth level of 2020 and one of the highest in recent years. Transactions were up 4.4% and are in positive territory for the first week since March 15. 
Credit card spend was down 2.7% year over year but showed a strong improvement over the previous week. Transactions were down 7.8% but have shown improvements for 11 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 49.6% for purchases and 48.7% for transactions in Week 25. This is the tenth consecutive week of growth above 40% for debit.  
Credit card CNP volumes were up 13.4% for purchases, with transactions up 25.3%.

Cash withdrawal transactions at the ATM have been down 20% or more for 13 straight weeks, indicating less of a preference and desire for cash. For the most recent week, the number of cash withdrawals is down 21%. 

WK25 trend infographic