The May 2023 report highlights the growing global debit card market, projected to exceed 18 billion cards by 2027. Legacy banks and credit unions dominate issuance, but ownership of debit card programs is now more accessible to other companies. Competitive programs increasingly require digital features like instant card issuance and mobile wallet integration. Visa and Mastercard remain the most supported networks. Intense competition drives high R\&D investment, with many providers allocating over 15% of revenue. Provider selection depends on technology, global reach, product breadth, speed to market, configurability, and support services.

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