Co-branded debit cards are emerging as an innovative payment solution, offering brands a new opportunity to engage loyal customers. The launch of the first co-branded debit card in the US by Wyndham Rewards illustrates this trend. A significant percentage, 30%, of consumers are using debit cards for purchases at major brands despite lacking rewards. Younger generations demonstrate a preference for debit over credit as they seek to manage financial risk more effectively. These shifts in consumer behavior and technological advancements open possibilities for brands to monetize these relationships effectively.
The opportunity is huge here, where we have customers that have a deep loyalty with the brand.
30% of customers are pulling out debit cards when making purchases at major travel and entertainment brands, even though they're not getting rewards associated with it.
The younger generations are preferring to use debit more than we've seen in the past, and not wanting to build up a credit balance.
Co-branded debit cards are creating new monetization opportunities for brands, driven by consumer behaviors and technological advancements.
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