Fraud and Purchase Protection: Card Benefits Worth Promoting

Understanding card enhancements and their value helps issuers determine which enhancements to offer and how to market them.

Boston, April 8, 2020 – Issuers and benefits providers in the U.S. and globally have created new credit and debit card benefits in recent years to meet changing cardholder preferences while improving the experience for customers making a benefits claim. But while these enhancements are available on most cards in the market, issuers rarely use them as a way to differentiate their card offerings. Could these card benefits help issuers’ card products stand out in a sea of options available for cardholders?

This report helps issuers understand fraud and purchase protection card enhancements, how they work, how they benefit cardholders and issuers, and how issuers promote them in marketing copy. It is based on interviews with 18 bank and credit union card executives, interviews with benefit providers, desk research conducted in Q1 2020, and the author’s experience managing card programs at financial institutions in the U.S.

This 39-page Impact Report contains 28 figures and two tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions 1st Advantage Federal Credit Union, American Express, Arvest Bank, Aspiration, Barclays, BB&T, CBSI, Chase, Citibank, Citizens Bank, Consumers Credit Union, Costco, cxLoyalty, Discover, Fifth Third, First Midwest Bank, GE Credit Union, M&T Bank, Magnate Bank, Mastercard, Navy Federal Credit Union, Ritz-Carlton, Scotiabank, Sift, Uber, United Bank, USAA, US Bank, UW Credit Union, and Visa.

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