Incentivizing Consumers Toward Debit Payments with Rewards
- Date:December 15, 2023
- Author(s):
- Elisa Tavilla
- Sophia Gonzalez
- Report Details: 28 pages, 18 graphics
- Research Topic(s):
- Debit
- PAID CONTENT
Overview
Consumers increasingly use debit cards for various payments. Most consumers regularly pay for everyday purchases and bills with debit cards across physical and online channels. Rewards can help expand debit card spending to other categories. Always cost-conscious, consumers seek rewards that can lower their overall cost. Cashback is the most appealing incentive.
Many issuers have shifted their focus from debit card rewards to value-added features. Most large issuers do not offer debit card rewards but provide other checking account benefits. And with consumers buying more on mobile devices, issuers and retailers are collaborating to target e-commerce shoppers and drive transaction volumes. The opportunity is large.
Key questions discussed in this report:
- What factors motivate consumers to use debit cards more often?
- What types of debit rewards are issuers offering?
- How are merchants incentivizing customers to use debit payments?
Companies Mentioned:
Adyen, American Express, Apple Pay, AT&T, Bank of America, Banked, Bankify, BNY Mellon, Capital One, Cardlytics, Cartera, Cash App, Catch, Chase, Chevron-Texaco, Circle K, Citi, Cumberland Farms, Delta, Discover, Disney, Exxon Mobil, Federal Reserve, FedNow, Fiserv, FutureCard, Google Pay, Green Dot, H&M, H-E-B, Mastercard, PayPal, PayPal Honey, Plaid, Regions Bank, Reserve Bar, RTP Network, Samsung Pay, Shell, Square, Sun Trust, Target, Tillo, T-Mobile, Toast, Truist, Trustly, U.S. Bank, Valero, Venmo, Visa, Wells Fargo, Zelle
Learn More About This Report & Javelin
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