It has happened. Electronic payment transactions surpassed check transactions as the evolution of technology in payment systems changed consumer needs and behavior. More than half of these transactions are made up debit card payments. This would clearly indicate the consumer preference in swiping a card to pay for purchases rather than carrying cash for it.

Safety and convenience are the primary attractions for electronic payments as you need not go to the bank to withdraw cash and risk its loss while shopping around. Most banks offer debit and automated teller machines (ATM) cards as an alternative to consumers who wish to access their accounts to make payments.