Card issuing — once the province of big banks — is changing, as issuers move beyond basic transaction services to stay competitive. In the process, they face growing demands for digital-first experiences, seamless integrations and data-driven personalization.
What sets best-in-class card issuers apart? One metric makes all the difference: customer lifetime value (CLTV). PYMNTS Intelligence’s latest research finds that high-CLTV issuers outperform their peers in revenue, customer engagement and long-term success. While 3 in 10 issuers report an average CLTV of just $1,000, 21% achieve $2,500 or more — unlocking a significant competitive edge.
What’s driving this success? Diverse monetization strategies, embedded financial services, and a strong focus on data-driven personalization. In fact, 31% of issuers cite advanced customization as crucial to a best-in-class platform. High-CLTV issuers also lead the way by integrating flex credentials, personalized financial products and seamless digital experiences. With 75% of top issuers planning platform upgrades within the next two years, the race for innovation is on.
“The Best-In-Class Modern Card Issuer: Driving Customer Lifetime Value Through Innovation,” a PYMNTS Intelligence and Visa DPS collaboration, examines the critical factors that drive high CLTV, drawing on insights from a survey of 451 executives who hold heads of payment roles at U.S.-based bank and non-bank card issuers. Comprised of information from the survey, held from Dec. 13, 2024, to Jan. 17, 2025, the report provides a roadmap for card issuers looking to increase revenue, enhance customer relationships and achieve a competitive edge.
The ability to increase revenue from multiple sources — beyond basic transaction fees — distinguishes best-in-class issuers, as does embedded financial services and a data-driven approach to personalization. This report includes crucial insights shaping tomorrow’s most successful card-issuing strategies.
