Private label debit
Private label debit refers to a merchant-branded card or mobile payment app that utilizes an automated clearing house (ACH) to directly debit consumer checking accounts.[1][2] Used in a closed-loop environment, private label debit offers secure transactions through PIN protection or tokenization.[3][4]
Private label debit programs have become increasingly popular in the United States, totaling roughly $13 billion in payment value.[5] Such programs are offered by well-known brands, including Target, Kroger, and Circle K, as a consumer loyalty strategy.[6][7]
Companies such as ZipLine, First Data, and BIM Networks implement private label debit programs for such brands.[8][9][10]
References
[edit]- ^ "Card Rewards are Getting Creative". PaymentsJournal. 2019-03-14. Retrieved 2019-07-12.
- ^ "Fintech Startup Stash to Launch "Stock-Back" Debit Card Rewards". 2019-07-12. Retrieved 2019-07-12.
- ^ "The Nilson Report Current Issue – Featured Article, Statistics & Companies". nilsonreport.com. Retrieved 2019-07-12.
- ^ "The Private Label Debit-Loyalty Connection". CSP Daily News. June 18, 2018. Retrieved 2019-07-12.
- ^ "FRB: Recent Payment Trends in the United States". www.federalreserve.gov. Retrieved 2019-07-12.
- ^ "Walmart and Target Push the Fed on Faster Payments". PaymentsJournal. 2018-12-06. Retrieved 2019-07-12.
- ^ Wilke, John R. (2002-11-14). "Visa, MasterCard Campaigned To Undercut Rival Debit Cards". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-07-12.
- ^ Anderson, J. Craig (2019-07-08). "Portland customer loyalty rewards provider acquires Florida firm". Portland Press Herald. Retrieved 2019-07-12.
- ^ "Why First Data Surged 60.1% in the First Half of 2019". finance.yahoo.com. 12 July 2019. Retrieved 2019-07-12.
- ^ "An MCX vendor revives the multi-merchant wallet idea with a new focus". PaymentsSource. Retrieved 2019-07-12.
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