Programs that reward consumers when they use their debit cards have been largely considered one of the important casualties of the Durbin amendment's cap on debit interchange.
But a recent study conducted by business research firm Mintel Compermedia found that 47% of consumers surveyed who participate in a debit rewards program have never actually redeemed their rewards points.
"Obviously, a couple different types of people fall into the group who never redeem debit rewards points–some are saving up for something bigger, while others simply haven't accumulated enough points," said Susan Wolfe, vice president of financial services at Mintel. "However, a number of people participate in a debit rewards program because it's so easy to sign up but never use the program again. If so, it indicates that the rewards program isn't working as a way to instill loyalty."
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