top of page

Insight of the Day: From AI to Mobile Devices: Technology Reimagines Debit and Credit Cards

The article discusses the ongoing evolution of debit and credit cards, driven by technological advancements like AI and mobile devices. Here's a summary of the key points:

Evolution of Cards:

  • Historical Context: The traditional card system with multiple physical cards, closed-loop systems, and complex numbers seems outdated in the digital age.

  • Technological Transformation: Digital channels, mobile devices, and AI are reshaping how cards are created, distributed, personalized, and used.

  • Visa's Innovation: Visa's new "one card" concept allows a single card to function as debit, credit, pay-over-time, or cryptocurrency, simplifying financial management.

  • Digital Wallet Hub: The digital wallet is emerging as a central platform for storing cards, transferring money, and paying bills, with 80% of consumers expressing interest in using it for various functions.

  • Shift in Spending Patterns: Debit card usage in digital wallets has doubled for grocery purchases, while credit cards remain popular for retail purchases among older, high-income consumers.

  • National Bank Dominance: Cards issued by national banks still hold the majority (68%), even among customers of regional banks.

  • Demand for Digital Experiences: Consumers increasingly prefer digital experiences across channels, along with diverse payment options. AI-powered banking and personalized card-linked offers can enhance the use of cards digitally and on mobile devices.


The article highlights the ongoing transformation of the card industry, moving away from traditional methods towards digital and mobile-centric solutions. The integration of AI and personalized experiences is expected to further drive the adoption of digital cards and mobile payments.

0 views0 comments


bottom of page