Operational Excellence: The Best Debit Marketing Strategy, recommends that the best way to increase debit card usage and customer retention is to improve dispute handling and reduce the incidence of false positives in fraud detection.
Consumers are changing their buying habits and including more online and mobile purchases. Debit cards are less likely to be used in those channels than credit cards due in part to their concerns about the safety of their transactions and usability of their cards.
Highlights of the report include:
Decline in the use of debit cards compared to credit cards for retail purchases in the United States
Transaction types that consumers prefer in digital channels
Trends and best practices in handling debit card disputes
The rising risk of "friendly fraud"
Discussion regarding the use of data analytics to curtail false positives.
Key Topics Covered:
1. Executive Summary
3. The Reasons for the Decline in Debit Card Growth