Debit Card Rewards: Taking a Focused Approach, 2019 Consumer Study

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Oct 18, 2019, 11:30 ET

DUBLIN, Oct. 18, 2019 /PRNewswire/ -- The "Debit Card Rewards: Taking a Focused Approach" report has been added to ResearchAndMarkets.com's offering.

Debit Card Rewards: Taking a Focused Approach, discusses new competition faced by debit card issuers and suggests how then can keep their programs motivating yet cost-effective.

Rewards offered with traditional debit cards are still available from large and small financial institutions but are on the decline as debit card issuers look to cut costs in the face of ever smaller product margins. Forty percent of U.S. consumers surveyed by the author indicate that they are receiving rewards with their debit card today.

"Consumers today may have a more difficult time finding debit cards rewards from traditional financial institutions, but digital-only or challenger banks and merchants are filling the void. Some consumers, particularly those in younger demographic segments, which financial institutions want as customers, appear motivated to spend more in the pursuit of rewards and are taking their transactions and balances to these alternative payment options," comments the author of the report.

Highlights of the report include:

Review of the types of rewards that financial intuitions are providing to their cardholders
Survey of debit card rewards programs of large financial institutions, institutions below $10 billion in assets, and digital-only banks.
Survey of merchant segments with merchant-provided rewards
A discussion of approaches that financial institutions can take to support rewards on debit cards through a narrower focus on customers most likely to benefit and be motivated by them.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Consumer Perceptions of Debit Rewards

4. The Motivated Debit Rewards User

5. Predominant Reward Types

Cash Back
Points Programs
Merchant Offers/Discounts

6. Survey of Debit Rewards Programs

Survey of Large Banks and Credit Unions Offering Debit Rewards
Survey of Smaller Banks and Credit Unions Offering Debit Rewards
Survey of Digital-Only Banks

7. New Competition for Debit Rewards Programs

8. Conclusions

9. References

Related Research
Endnotes

Companies Mentioned

American Express
Axos Bank
Bank of America
BB&T
Consumers Credit Union
Cumberland Farms
Discover
Farmer's State Bank
Fifth Third Bank
First United Bank and Trust
Green Dot Bank
JP Morgan Chase
Kroger
PNC Bank
Randolph Brooks FCU
Schools First FCU
Security Service FCU
Starbucks
SunCoast FCU
SunTrust Bank
Target

For more information about this report visit https://www.researchandmarkets.com/r/18hs2c

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SOURCE Research and Markets