2025 PULSE^® Debit Issuer Study

20 Years of Growth, Transformation, and Opportunity

Study highlights debit’s steady rise and resilience in an ever-evolving payments landscape.

Explore the evolution of debit

An era of transformation

This year marks the 20^th edition of the Debit Issuer Study. Find out what key milestones over the last two decades have shaped debit’s trajectory.

Quotation Marks

Debit’s dramatic growth over the past 20 years positions the industry well as issuers face a shifting set of challenges.”

– Steve Sievert, Executive Vice President of Marketing and Brand Management, PULSE

Explore the findings

Watch a webinar presented by Steve Sievert for in-depth analysis of the results and answers to your debit-related questions.

Access the Webinar

The 2025 Debit Issuer Study report is shown on a laptop screen next to a smartphone showing study findings.

The 2025 Debit Issuer Study report provides a comprehensive view of the debit industry and issuer performance.

Download the Report

Check out the top trends impacting debit

Debit remains top-of-wallet for consumers

Debit continues to play a central role in consumers’ daily routines. Transactions increased 2.5% year-over-year, with active cardholders making 35.2 transactions monthly.

A hand pulls a payment card out of a wallet.

A payment card slides out of a wallet revealing an EMV chip, as a price tag with a dollar sign descends from above.

A mobile phone displays two alternating icons. A shopping cart slides in from the left of the screen before it is replaced by a checkmark that slides in from the right of the screen.

Digital acceleration is unlocking opportunities

Digital debit payments are surging, with nearly half of debit spend now card-not-present and 24% of all in-store contactless payments generated from smartphones and wearables. To keep pace, issuers cited enhancing their cardholders’ digital experience as their top priority.

A hand grips a mobile phone. A payment card slides down from the top of the screen, as a checkmark slides up from the bottom.

Issuers remain vigilant as new fraud schemes emerge

Stronger defenses have forced fraudsters to evolve. As third-party fraud loses ground, AI-driven scams and friendly fraud now represent the new battleground.