2024 Annual U.S. Debit Card Market Data Review

Changes are afoot in the debit card market as higher prices drive more consumers toward credit for everyday payments and users increasingly demand digital payment technologies. This Javelin Strategy & Research report takes a comprehensive look at debit payments in the context of now and what is likely to be coming as consumers consider the economic landscape, adopt new technologies, and adjust their payment preferences accordingly. 

For debit card issuers and merchants, Generation Z—encompassing those born in 1997 and later—represents an opportunity to reach out to consumers who haven’t yet built up a strong credit profile and engage with issuers’ apps more strongly than older generations. This is a chance for debit issuers to build products that align with these consumers’ wants and needs and to build lasting relationships.

Key questions discussed in this report: 

• How are debit cards changing over time? 
• Who is most likely to use a debit card and why? 
• What changes are coming that will have an impact on the debit environment?

Companies Mentioned: 

ACCEL, AFFN, Amazon, ATH, Axos Bank, Bank of America, Bureau of Labor Statistics, Capital One, Chase, Credit Union National Association, Culiance, Discover, Federal Deposit Insurance Corporation, Federal Reserve Bank of San Francisco, Interlink, Jeanie, Maestro, Mastercard, NYCE, PULSE, SHAZAM, STAR, UnionPay, U.S. Bank, Visa Wells, Fargo