Card Controls: A Service in Search of a Strategy

Although most top banks offer consumers the ability to turn their debit cards off and on, many fewer offer additional control over spending limits, categories, individual merchants, or geography. Those that do have seen limited adoption of these more advanced controls. Even simple on/off controls suffer from low awareness and use. 

What can banks do to encourage greater adoption and use of these security controls? This Javelin Strategy & Research report will highlight the importance of clear use cases, prominent positioning, and simple interfaces to demonstrate the value of these controls in protecting customers’ accounts. 

Key questions discussed in this report:

• Which card controls have seen the greatest consumer adoption?
• Where are the card controls most often found in mobile apps?
• What controls beyond on/off have the greatest support among banks?
• Do consumers understand the value of more granular controls?
   

Companies Mentioned:

Bank of America, BMO, Banner Bank, Capital One, Chase, Citibank, KeyBank, Monzo, Regions Bank, Simmons Bank, TD Bank, Truist, Wells Fargo