The debit card likely will not go the way of the paper check, its role is rapidly transforming, and its days as a single-purpose product are looking increasingly numbered.

Banks are increasingly enticed by projects such as one Fifth Third Bancorp has undergone to marry debit and credit cards. In doing so, they might replace revenue lost because of new limits on what they can collect for debit card transactions.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.