Return of the Debit Card

Following the financial crisis many financial institutions scaled back on their debit card rewards programs; for some fintechs though this is how they can bring in revenue from interchange fees; many of the benefits to users center around receiving cash back on purchases and these benefits just might be getting better with competition; apps like Acorns have more unique offerings with cash back being invested in ETFs or in the case of Stash, cash back being invested in companies that the user shops at; there is also growing demand from younger users who prefer debit to credit cards; Tearsheet shares some of the current trends in debit cards and why it is an area to keep an eye on. Tearsheet