PULSE® Study Finds Debit Issuers Focused on Digital Payments, Mobile Self-Service, Fraud Mitigation
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Greater Consumer Awareness and Merchant Acceptance Sparked a Rise of Over
“After two years of historic disruption in payments, 2022 was a year for the industry to catch its collective breath and ensure investments are truly meeting the needs of consumers,” said Steve Sievert, executive vice president of Marketing and Brand Management with PULSE. “This year’s study found consumers further embraced contactless cards and mobile payments, while many issuers are focused on securing top-of-digital-wallet position for their debit cards.”
Payment Trends that Surged have Endured
Nearly
Meeting Consumer Demand for Mobile Capabilities
With consumers favoring seamless digital experiences and mobile capabilities, issuers are seeking to keep pace by prioritizing customer experience. More than one-third of respondents (
Fraud Management is Top Concern
When asked about trends impacting their debit programs, key focus areas and priority investments, fraud management emerged as issuers’ top concern in 2022. Nearly
Steady Year-Over-Year Performance
The 2023 Debit Issuer Study found modest improvement in debit key performance indicators from 2021 to 2022. Debit usage per active card remained flat YoY, at more than 29 transactions per month. Debit penetration rates rose marginally to
For more information, visit the PULSE Debit Issuer Study resource center.
About the Study
The 2023 Debit Issuer Study is the 18th installment in the study series, commissioned by PULSE and conducted by West Monroe, a digital services firm. The study provides an objective fact base on debit issuer performance and financial institutions’ outlook for the debit business. Study respondents included large banks, credit unions and community banks. The sample is representative of the
About PULSE
PULSE is a leader in debit payments, cash access and account transfers, and we deliver exceptional value, choice and convenience to clients across the payments ecosystem. We enable reliable and secure digital money movement for a wide variety of debit card programs by leveraging our PULSE Network, the Discover® Debit program, an advanced fraud-detection platform and partner-support services. Our commitment to continuous improvement, innovation and prioritizing the unique business needs of our clients empowers payment solutions that meet the evolving demands of consumers. PULSE is a Discover (NYSE: DFS) company and part of the Discover Global Network. For more information, visit PULSEnetwork.com.
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Anne Uwabor, 832-214-0234
PULSE
anneuwabor@pulsenetwork.com
Dan Keeney, 832-467-2904
DPK Public Relations
dan@dpkpr.com
Source: PULSE
FAQ
What is the key finding of the 2023 PULSE Debit Issuer Study?
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What are issuers focusing on for their debit cards?
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