Despite intensified payment competition and rocky economic factors, private label credit cards will maintain their importance in the payments industry in 2023. Retailers should not discount the value they can bring in terms of revenues and loyalty.
While its slow growth suggests that private label credit cards are ceding ground to alternatives like buy now, pay later (BNPL), these cards remain a payments cornerstone. Their rewards programs and ability to expand credit access solidify their place in the ecosystem—and make them a powerful asset for retailers.
Key Question: What are the opportunities for retailers to grow their private label credit card programs?
Executive Vice President, Chief Strategy Officer and Corporate Development Leader
Interviewed October 24, 2023
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