Debit rewards programs still alive

by: Tina Orem

Debit rewards programs are alive and kicking despite their predicted death via the Durbin Amendment, according to a new study by Mercator Advisory Group.

The Durbin Amendment, which took effect in 2011 as part of the Dodd-Frank Act, reduced debit interchange fees on card purchases, causing many to predict the demise of debit rewards programs in order to make up for lost revenue. But five years later, 50-60% of financial institutions in the U.S. offer debit rewards, Mercator found.

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