Keeping Debit Relevant
Director, Debit Advisory Service, Mercator
Debit is beginning to look like an archaic middleman between what the consumer wants to pay for and their funding source. The industry may be at a decision point where the determination is made if debit has outlived its usefulness, or if there is an opportunity to rally and make debit the centerpiece for consumers’ everyday payment transactions and their relationship with their financial institution. Debit cards are, after all, the payment type used most frequently after cash, plus they are a reminder to customers of the relationship that they have with their bank or credit union and the key to managing their day-to-day payment transactions.
In this discussion, attendees will learn how issuers are thinking about:
• Market forces currently detracting from debit cards
• Value added services to keep debit as a favored payment product
• How debit can be an integral payment type the pending mobile wallet era
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