Sovereign Bank has invested hundreds of thousands of dollars in debit rewards, despite the fact that revenues from debit have been sharply curtailed following the passage of the Durbin Amendment.
Sovereign’s Eduardo Tobon says robust debit rewards programs can help motivate cash-favoring customers to switch over to card-based payments, according to American Banker — to the point where these programs represent important growth opportunities, despite their increasing cost post-Durbin.
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