2023 PULSE® Debit Issuer Study

Issuers adapt to consumer demand for digital payments

Study reveals how issuers are prioritizing initiatives to create a streamlined digital cardholder experience.

Three key trends defining the debit industry in 2023

Learn which digital payment options resonate with consumers and how issuers stay at the forefront of service offerings and fraud mitigation.

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Quotation Marks

The pandemic has definitely shifted the payment behavior of our customers. E-commerce and in-app purchases have really increased. We’re seeing our customers use a lot more digital payment capabilities."

 

–Large Bank Executive

Consumers continue to embrace digital payments

Increased mobile-wallet use is being fueled by greater consumer awareness and merchant adoption of wallet-enabled payment terminals. A2A transactions, which include P2P and gig-economy wage payments, increased at a more moderate rate.

Icon illustrates that 78% of issuers reported increased use of mobile wallets.
Icon illustrates that 78% of issuers reported increased use of mobile wallets.
Icon illustrates that 35% of issuers accelerated the rollout of new mobile capabilities.

Issuers meet the moment by enhancing mobile capabilities

With consumers favoring seamless digital experiences, issuers are keeping pace by investing in mobile self-service capabilities that enable consumers to help themselves by ordering, activating or freezing or unfreezing a debit card.

Icon illustrates that 35% of issuers accelerated the rollout of new mobile capabilities.

Strengthening fraud models is issuers’ top priority

As issuers continue to confront new and varying types of fraud, fraud management has emerged as their top concern. Nearly all issuers reported enhancing their fraud models in 2022 to lessen its financial burden and customer impact.

Icon illustrates that 90% of issuers enhanced their fraud models.
Icon illustrates that 90% of issuers enhanced their fraud models.

Our latest insights on debit trends

Take a look back at debit’s recent history

Icon of a graph with YoY growth

2022

Debit numbers were strong as transactions, spending volume and average purchase value all rose.

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2021

Debit spend surpassed credit for the first time as consumers made fewer – but larger – purchases.

Icon of a laptop and mobile device

2020

The pandemic created uncertainty, but also sparked an increase in card-not-present transactions.

Start getting more from debit

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