Launching a debit card program is an attractive proposition for many organizations, whether as a standalone offering, an extension of existing services, or a means of achieving other product goals. While debit cards are ubiquitous in our daily lives, the inner workings of these programs are intricate, particularly during a period of heightened regulatory scrutiny. Beyond being a simple payment tool, debit cards serve as gateways to funds, platforms for financial management, and vehicles for brand engagement. As with any card program though, creating a debit card program from scratch presents significant hurdles in terms of operational requirements and financial sustainability.
The need to partner with traditional banks for co-branded programs (a card program with a company brand in addition to the bank and network brand) or invest heavily in building proprietary technology and financial infrastructure has changed significantly over the last ten years. Presently, several companies offer program management solutions for debit cards. These PMPs can swiftly (typically within 3-9 months) help organizations deliver a tailored debit card program that aligns with an organization's brand and unique requirements. PMP solutions are being adopted across a wide range of industries and use cases, including expense management, corporate disbursements, payroll, and consumer loyalty programs, among other use cases. This diversity highlights the flexibility and adaptability of PMPs.
This guide was created to provide insights into the process of developing a debit card program that caters to your specific needs and to help you, as a company (and potential PMP customer), make the best decisions for your business as you build a card program. It delves into the decision-making process of determining which elements to manage or develop internally and where to leverage a PMP. The aim is to provide you with a clear and unbiased understanding of the key players in the industry, their respective roles, and the most suitable approach for your organization. Using this market analysis, you'll acquire the knowledge necessary to expedite your program launch, maximize resources, and make informed, long-term strategic decisions with confidence.
Table of Contents
- Objective and Scope of the Report
- Who We Are and Why We Wrote This
- Introduction
- The Rise of the Neobank
- Considerations for Building a Debit Program
- Program Management Platforms vs. Issuer Processors
- Key Differences
- Roles and Responsibilities
- Economics of a Debit Program
- Debit Program Pricing
- Program Management Platforms
- High-Level Program Features
- Program Configuration
- Program Setup
- Funding and Money Movement Features
- Card Features
- Origination and Issuing Features
- Compliance and Security Features
- Program Management Features
- Program Management Platform Customer Profiles and Resources
- Future Outlook
- Acknowledgements
Executive Summary
Get the full picture of launching and managing a debit card program with this comprehensive guide. Whether you’re a large corporation or a startup that’s looking to launch a debit card or trying to get an overview of the debit card program management landscape, this report empowers you to make well-informed decisions. We go beyond the basics and explore the range of features and considerations so that you can launch your product with confidence. Learn who the key industry players are, what roles they play, and how to evaluate different approaches. The goal? Give you the tools and knowledge needed to launch a program smoothly and manage it with confidence in the long term. This report contains an in-depth analysis of Alviere, Galileo, Green Dot, Highnote, Lithic, Marqeta, Qolo, Stripe, Synctera, and Unit.
Companies Mentioned
- Alviere
- Galileo
- Green Dot
- Highnote
- Lithic
- Marqeta
- Qolo
- Stripe
- Synctera
- Unit
