PORTLAND, Maine—The market for combined private label debit payment options and rewards is on the upswing, according to a new research brief from Mercator Advisory Group shared by ZipLine. The report outlines how merchants can grow loyalty by attaching branded debit payment with rewards and also previews the new technologies driving the adoption of branded debit and rewards.
The Mercator report describes the five attributes of private label debit and provides insights into some of the largest private label debit programs across verticals, including Target, Kroger and Circle K. Mercator predicts that volumes will reach $28 billion by 2025, fueled by the growth in mobile payments and consumer desires for immediate, exclusive rewards. The report also explains how new technologies, such as faster ACH and real-time payments, will increase the adoption of private label debit.
“This report is incredibly helpful for any merchant considering private label debit and rewards to cut costs, attract new guests and retain their most loyal customers,” said Kristen Bailey, ZipLine’s chief marketing officer, in a press release. “Mercator provides an in-depth look at market trends, opportunities for growth, and competitive approaches that will help merchants who are ready to leverage branded debit payment and rewards.”