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STUDY: Surcharge-free ATMs, debit rewards on the rise in U.S.
August 17, 2008
HOUSTON — Surcharge-free ATM access is gaining in popularity among debit-card issuers, according to the 2008 Debit Issuer Study, commissioned by PULSE.
And, according to the study, financial institutions are increasingly offering debit rewards.
The 2008 Debit Issuer Study, conducted by Oliver Wyman, provides new data and comparisons to the results of the 2007 Debit Issuer Study, which was released in February 2007. This comprehensive survey offers a revealing look at debit-issuer performance, debit-card trends and the latest debit technologies and service offerings.
"Although growth in debit use remains strong, debit card issuers are broadening their electronic-payment services to include new payment devices, targeted cardholder perks, such as surcharge-free programs, and greater levels of service," said Cindy Ballard, PULSE's executive vice president. "Based on survey responses, we expect this trend to continue over the coming years."
Sixty-two FIs participated in the study, including large banks, community banks and credit unions. Collectively the group issues more than 74 million debit cards — 28 percent of U.S. debit cards. The institutions also hold 46,000 ATMs.
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