“Debit card growth resulted in part from consumers turning away from using credit cards for transactions as higher delinquencies and higher interest rates led many to use debit cards instead. Higher costs for everyday items often purchased using a debit card played a role in the growth of the value of debit transactions. Behind the good growth news, debit issuers are contending with near-term concerns including shifting fraud tactics and long term, debit’s role in digital channels and faster payment products as they evolve,” comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.
This report has 20 pages and 13 exhibits.
Companies mentioned in this report include: Accel, Early Warning, FICO, EMVCo, Exxon, GasBuddy, Mastercard, NYCE, Pulse, Shazam, Star, Target, The Clearinghouse and Visa.
One of the exhibits included in this report:
- Debit card’s standing in relationship with other payment vehicles in the U.S.
- Growth in the number of cards in market
- Transaction and transaction value growth
- The growth of debit card transactions in comparison to credit cards and what is influencing changes
- Discussion of five trends that will impact the debit card market in the near term
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