Synergistics just released some of the results of their most recent small business debit survey, and it unsurprisingly finds that its difficult for small business debit cards to compete with small business credit cards for any significant spend. As check-writing continues to decline, small business debit cards should see increased penetration rates, but between the impact of the Durbin Amendment on interchange (which includes business debit) and the aggressive marketing of small business credit cards, it’s a product that might not find its way to top of wallet.
Findings show that small business checking account providers have been successful in getting debit/check cards into the hands of a majority of their small business customers. Expanding the pool of users and encouraging increased frequency of usage remain challenges.
