"POS (point-of-sale) payments with ATM cards are the ultimate convenience for today's busy consumers," said Dennis F. Lynch, president and CEO of NYCE, the largest electronic funds transfer company serving the Northeast and New England. "Each year, we see rapid, widespread acceptance by new merchants and transaction volume going through the roof."

Here's an explanation from NYCE about why ATM cards are so popular as a method of payment:

• They're fast, easy to use and convenient: To pay with your ATM card, all you have to do is slip the card through a special card-reading device and enter your unique personal identification number (PIN). The transaction total is entered by the store clerk and the amount is automatically deducted from your checking account. It's faster than paying by check, easier to control your finances, and you don't have to worry about carrying around a lot of cash.

• They're secure: Even if your ATM card is stolen, it can't be used without your PIN. Carry your card safely, memorize your PIN and nobody can access your money except you.

• Transactions are processed immediately: As soon as your purchase is complete, it will be reflected in your account balance. There's no waiting for checks to clear, and no revolving credit with high interest rates.

• They're widely accepted: A growing number of merchants accept ATM cards for purchases. To find participating locations, simply look for signs at local grocery stores, gas stations, shopping centers, restaurants, mass transit authorities, even your doctor's office. It won't be long until ATM cards are accepted for purchases everywhere.

• They have multiple uses: Like over-writing a check, many merchants allow you to get cash back from your POS transaction by entering more on your ATM card than the total cost of your purchase. And, of course, the cards still work at ATMs.