Custom Search:

Debit Card Growth Continues at a Record Double-Digit Pace

Mercator Advisory Group releases new research tracking the strong debit card volume growth and provides a near-term forecast for the U.S. market.

Image of Sarah Bendorf By Sarah Bendorf.
Updated Jul 15, 2021

BOSTON (PRWEB) July 15, 2021 - Dollar volume spent on debit cards in the U.S. rose by 14% as a result of generous government benefits and a change in consumers payment preferences that shifted away from checks, cash, and credit cards. This and other aspects of the current market for debit cards are reviewed in Mercator Advisory Groups report, 2021 Annual U.S. Debit Card Market Data Review: Unprecedented Double-Digit Growth.

This past year the market experienced a unique environment where consumers sharply shifted their payments towards the use of debit cards and because some of this shift came at the expense of credit cards, this was positive for debit issuers and, at the same time, positive for merchants as credit card transactions are nearly always more expensive to process than debit cards. Issuers are interested in encouraging the continued top-of-wallet position that debit cards have achieved, but competition from fintechs plus likely regulatory changes will make this an uphill battle, comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.

Highlights of the report include:

This report has 16 pages and 8 exhibits.

Companies mentioned in this report include: Mastercard, Pulse, Star, Visa

Members of Mercator Advisory Groups Debit Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.

For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send e-mail to info@mercatoradvisorygroup.com.

For free industry news, opinions, research, company information and more visit us at http://www.PaymentsJournal.com.

About Mercator Advisory Group Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.