Debit card users are increasing in
number as compared to credit card users. Use of debit card allows the
consumers to save money for future use as they know how much money they
have and how much money they have to spend. This trend leads to the
growth of merchant paid reward programs. Credit cards do not give
customers this privilege as they pay later for whatever they have
purchased.
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Merchant-paid programs persuade
customers to use their debit cards rather than credit cards or paper
coupons. Merchant paid programs are gaining popularity in the market as
it offers convenience to the customers and banks as well. This program
helps to reduce the cost incurred during the transactions in banks,
helps in revenue generation, builds customer loyalty, and reduces
dependability on interchange fees.
Consumers also love to get points and
rewards offered by using debit cards and they prefer to shop with debit
cards. Increasing needs leads to day to day purchasing and consumers
therefore prefer debit cards as a payment option. On every purchase they
get some points and rewards from the respective bank or financial
institution. Rewards have a positive effect on merchants, customers, and
the payment system collectively if set properly but, if not, it may
lead to adverse results.
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This research report analyzes
this market depending on its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report
also includes a review of micro and macro factors essential for the
existing market players and new entrants along with detailed value
chain analysis.
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Reasons for Buying this Report
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- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
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