The Debit Difference
Opportunities to Connect Increase with Debit
Why Consumers Are Moving to Debit
Customer touch-points include:
Green Dot BaaS for Your Debit Solution
Embrace the Debit Rewards Opportunity
to Increase your Revenue
What makes debit different?
Debit cards don’t issue credit, so applicants aren’t
dissuaded by credit checks or the potential to accrue debt and interest charges. This makes debit cards a great alternative offer for customers who have been denied or don’t want a credit card.
With a debit card, cardholders can deposit their pay, cash and checks directly into their account, giving brands access into new data and customer insights as to when, and how, funds arrive into accounts.
Debit accounts also offer features such as automated bill pay for regular monthly expenses, like rent and auto loans, which traditionally don’t accept credit card payments and shed new light into spending habits.
These differentiators make debit cards a great standalone top-of-wallet solution in addition to being complementary to credit cards. Together, they complete
a customer’s payment card assortment, further personalizing the consumer experience and enabling brands to be more customer centric.
Consumers typically use their debit cards to make many small purchases over the course of a day,
which presents an opportunity for businesses with a branded debit account to interact with their best customers multiple times each day, across multiple mediums.
With 20 years of innovation serving leading
brands like Intuit®, Stash and Uber,
Green Dot’s Banking as a Service (BaaS)
platform enables partners to utilize our integrated banking and technology to create, design, develop and distribute their own innovative banking and financial services. These products allow our partners to achieve their business goals while our dedicated teams help manage the complex regulatory issues of running a BaaS program.
No other partner can bring all of these benefits to the table:
91 million U.S. adults are credit-challenged, with subprime credit scores below 600 and a lack of sufficient credit history. This makes it difficult or impossible for them to obtain a credit card.
Each time a debit card is pulled from a wallet to make a purchase, a valuable brand impression is made, furthering brand loyalty.
Witnessing the Great Recession spurred a change in Millennials: Only 1 in 3 carries a credit card. What does this mean for your business?
How can your brand be seen by customers nearly every day? Get in their wallet!
Find out how.
Fuel your loyalty program by unlocking new revenues with a Green Dot BaaS debit card program.
• Expand your customer base
• Drive daily engagement
• Create a platform for
• Unlock deeper financial insights
• Engage your best customers in
Debit Account Services provided by Green Dot Bank and Debit card issued by Green Dot Bank, Member FDIC.
Loyalty Rewards To Debit Cards
Consumers want loyalty rewards for debit.
Make sure your loyalty program isn’t left behind.
Credit card loyalty programs are everywhere, and as consumers claim rewards, brands profit. But many brands’ rewards programs begin and end with credit, which has them missing out on two valuable segments:
The good news about this credit gap is that it offers an opportunity for businesses to expand the reach of their loyalty programs by offering branded debit cards that cater to their customers’ financial health and preferences.
Consumers without credit
Consumers that prefer debit
The Debit Card Loyalty Opportunity
Some people don’t have credit because they are too young or are recent immigrants without a credit history. Others have poor credit or simply prefer to use a debit card, rather than add new credit card debt to their list of bills. In the past, rewards programs typically haven’t offered debit cards.
Fortunately, few businesses currently offer such programs, so there is a wide opportunity for early adopters.
But this is changing.
Expand Your Pool of Successful Loyalty Program Applicants With Debit
The Great Recession spurred a change in Millennials. Only one-in-three Millennials carries a credit card.
Due to an inability to access credit and a reluctance to carry debt, debit cards are the preference for consumers making less than $75,000 a year.
When a customer signs in to track their spending, view their card balance or keep tabs on their rewards, they can be delivered branded content with messaging and offers that are personalized, educational or inspirational.
Emails and alerts regarding transactions, spending habits, account balances and more can drive cardholder brand engagement and purchasing behavior with each message on both desktop and mobile devices.
Mercator, U.S. Consumers and Debit: Fewer Use It for Purchases, January 2019
CFSI, 2017 Financially Underserved Market Size Study, December 2017
Bloomberg, “Debt-Conscious Millennials Are a Threat to Credit Cards,” February 27, 2018
TSYS, 2017 U.S. Consumer Payment Study, March 27, 2018
Comprehensive program management experience operating large, complex and highly regulated programs
Integrated bank charter and dedicated teams managing regulatory requirements while providing flexible and dynamic solutions
World-class technology with hardened APIs and award-winning user experience (UX)
Green Dot Cash Load Network that enables cash deposits at more than 90,000 retail locations nationwide with more physical locations and better hours than any bank
From Credit Applicants to Debit Loyalty Customers