Alkami Telemetry Data – Large Coffee Retailer Reload Behavior

Source: 2023 Alkami Telemetry Data is sourced from a panel of more than 20 financial institutions with a range of asset sizes from $500M to $15B, with 2.16 billion transactions analyzed, representing the financial behaviors of 1.1 million account holders across 8 different age brackets.

What we’re seeing: A large coffee retailer created an interesting case study to research the spending habits of rewards members versus direct payers. Here are the findings:

• 23 percent of card reloaders spend 38 percent of the money.
• 38 percent of the dollars spent at this large coffee retailer are sitting in its reloader accounts.
• The card reloaders spent over twice as much at the coffee retailer in the sample month than those that just pay directly.

Takeaway & Call to action for FIs: Nearly 40 percent of dollars spent at this retailer are sitting in their company account instead of in your financial institution. This could mean missing out on interchange from retail swipes for consumers who reload their digital gift card or be a source of deposit displacement. Encourage account holders to use your institutions’ debit or credit card for their automatic reloads, to maximize your interchange revenue.

Interested in learning how customer insights can empower your financial institution to grow your business?