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How to Increase Debit Card Profitability

South State Correspondent

While there are many overlooked products in banking, the debit card is perhaps the greatest. The product generates significant fees and helps drive deposit balances, yet debit cards rarely get a mention in strategy, marketing, or customer profitability circles. Banks over $10B in asset size make closer to $0.23 per transaction.

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Synchrony, Wells Fargo, Bread Financial lead medical credit card market: CFPB

Payments Dive

The medical credit card industry has expanded in recent years as healthcare providers promoted the cards to patients, the agency said in a report.

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US leads global commercial card market: report

Payments Dive

accounted for 58% of global commercial card spend last year, but also for 78% of total value lost to card fraud, according to a report by Euromonitor International.

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Report: Strategic Payment Investments Give FIs, FinTechs Innovative Payment Options

PYMNTS

Safety-minded consumers the world over can now be seen tapping contactless cards, scanning QR codes or utilizing voice ordering technologies to make purchases without potentially putting themselves or others at risk of contracting the virus. The Beyond The Card: Toward The Cardless And Contactless Future report, a PYMNTS and i2c Inc.

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Wells Fargo Seeks Bidders For Private-Label Credit Card Unit

PYMNTS

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Selling the private-label credit card unit would be a business reversal for the financial services group. Wells Fargo also reported heightened debit card usage.

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Gift Cards Poised For Big Role In Post-Pandemic Purchasing

PYMNTS

Mao, whose company provides solutions for payments, prepaid cards and gift cards, said the only way for merchants to go is forward, because going back isn’t an option. Digital Gift Cards ’ Growth. For instance, people are simply directing more spend at gift cards this holiday season. Not All ‘Gift’ Cards Are Gifts .

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Why JPMorgan Wants A Piece Of The SMB POS Market

PYMNTS

For SMBs, what’s in the cards … are more card readers. As reported this week, J.P. Those latter two firms have been in the in-store POS market for quite some time (Square, for example, since 2009). Chase has also said that its new SMB offering will enable firms to take card payments within minutes.

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