Revive and reengage customer swiping and deposit activity
Velocity Solutions Bank Recovery Series Part II
The COVID-19 pandemic has delivered a blow to our economy unlike anything we’ve seen before. Spending has plummeted across all payment methods and has impacted nearly every category. Most financial institutions are reporting a double-digit decline in payments revenue, and as much as 80% of that decline could come from a loss in interchange revenue.
This white paper examines how the crisis has negatively impacted debit card transactions and deposit activity, and how other financial institutions are successfully combating these challenges in their recovery strategies.