On at least one network, debit card payments have recently surpassed credit card payments, reflecting the rapid growth in debit card use that has been evident for a number of years. Given this changing environment, the Federal Reserve is planning to repeat its triennial retail payments survey next year to help quantify recent trends. The check-processing system is also evolving rapidly.
The changing character of the payments business is challenging long-held assumptions about the payments infrastructure, as well as business relationships in the payments industry.