PYMNTS, Visa Report Urges Card Issuers to Focus on Customer Lifetime Value and Everyday Experience

The U.S. credit card market is gradually shifting from a race to issue more cards toward measuring customer lifetime value. PYMNTS Intelligence and Visa DPS said issuers can deepen customer relationships and build long-term profitability by making payments simple and reliable, encouraging customers to make their cards the default option for everyday spending.

The two organizations' newly released Customer Lifetime Value Report recommends that issuers invest in the everyday user experience instead of relying solely on expanding their customer base. Available information does not disclose the report's publication date, transaction values or quantified growth figures. Its central conclusion is that leading providers use consistent service to increase purchase frequency and customer retention.